CMT's Q3 net property income slips; DPU up 9.6%

Singapore

SLOWING rental reversions and a recent minor run-up in price for CapitaLand Mall Trust (CMT) may have been on investors' minds on Thursday even as the trust posted a higher third-quarter distribution per unit (DPU).

After having climbed steadily over the past few weeks from around S$1.90 at the end of September to S$2.05 on Wednesday, CMT units slipped two Singapore cents to S$2.03 on Thursday after reporting its results before the market's opening bell. DPU for the three months ended Sept 30 jumped 9.6 per cent year-on-year to 2.98 Singapore cents, the mall landlord said in its Singapore Exchange filing. This translated to an annualised distribution yield of 5.77 per cent based on Wednesday's unit closing price.