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CRCT Q3 DPU at 2.37 cents, rental reversions at 7.5%
CHINA mall owner CapitaLand Retail China Trust reported distribution per unit (DPU) of 2.37 cents for its third quarter ended Sept 30, 2017, almost unchanged from 2.36 cents from a year ago.
Based on annualised year-to-date DPU of 10.33 Singapore cents, the real estate investment trust (Reit) is trading at a yield of 6.1 per cent based on its closing price of S$1.685.
Net asset value at end-September was S$1.63, down from S$1.65 at end-2016.
Gross revenue for the third quarter was up 10.6 per cent to S$56 million mainly due to contributions from Chengdu's CapitaMall Xinnan, acquired at end-September 2016.
Net property income was correspondingly up 9.7 per cent to S$36 million.
Rental reversions - rent increases based on new leases signed for the multi-tenanted malls the Reit is managing - were 7.5 per cent higher in the third quarter.
CRCT closed at S$1.685, up a cent, before results were out.