Jul 21, 2010

CapitaCommercial Trust flat; Accumulate on weakness: DMG

CapitaCommercial Trust (C61U.SG) flat $1.33, off 52-week peak of $1.35 set in early trade, with higher 2Q10 DPU, management’s upbeat outlook sustaining interest, says Dow Jones.

2Q10 DPU at 1.97 cents vs 1.71 cents year earlier, 1.93 cents in 1Q10. But as REIT +16.7% since beginning June, incentives to chase are few, with investors awaiting next acquisition move following strengthened balance sheet post-sale of Starhub Centre.