CapitaLand Commercial Trust net property income inches up by 1.5%

Higher rentals drove the growth.

The property firm neither surprised nor disappointed this quarter, as its key properties delivered across its portfolio with the exception of Golden Shoe Car Park.

According to OCBC, including the newly completed CapitaGreen, the trust’s overall occupancy rate reached 96.4%.

“We judge this set of results to be within expectations, as distributable income and net property income from the quarter formed 77.8% and 74.9% of our full year forecast, respectively,” OCBC said.

“Distribution per unit (DPU) for the quarter is announced to be an estimated 2.14 S-cents (9M15: 6.45 S-cents), and based on the last closing price of S$1.435, CCT’s distribution yield is 6.0%,” they added.