New York-based investment management firm BlackRock Inc. ceased to be a substantial unit holder in Singapore-listed Retail REIT CapitaMall Trust (CMT)(SGX:C38U) effective 30 January.

A substantial unit holder is defined as a person or entity holding on to more than 5 per cent stake in the REIT.

Units of CapitaMall Trust have fallen 22% since May 2013.

The asset management firm, through its various subsidiaries, previously had a holding of 176.37 million units in CMT translating to a stake of 5.1 per cent. The company disposed off 7.09 million units as change in collateral last Thursday. This effectively reduces its stake in the REIT to 169.2 million units - a stake of 4.9 per cent.

Further disposals of units in the REIT by BlackRock now need not be reported to the Singapore Exchange (SGX) until it resumes to be a substantial unit holder.

Units of CMT are trading close to its 52-week low of SGD1.81, closing at SGD1.85 on the SGX on 4 February. This is unchanged from its close in the previous day. The REIt has fallen some 22 per cent since May 2013 to date.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.