OCBC recommends ‘Hold’ on CapitaLand Retail China Trust following 4Q results

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CapitaLand Retail China Trust has reported a distribution per unit (DPU) of 2.37 Singapore cents for its 4Q 2017, unchanged from what was reported in the corresponding period of 2016.

The REIT’s gross revenue and net property income (NPI) for the quarter fell by 4.6% and 5.2% year-on-year to SGD54.1 million (USD41.3 million) and SGD33.0 million respectively, but distributable income increased by 6.8% to SGD22.0 million including gains from the divestment of Anzhen SPV.

Subsequently, the REIT’s DPU for FY 2017 came in 0.5% higher at 10.10 cents.

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