CapitaComm Trust: CS maintains at O/p with TP $1.70. Cite that CCT offers the most attractive growth story. Note that CCT emerged as the 2nd best overall MegaOffice REIT due to its strong macro outlook, growth potential and balance sheet strength, attractive valuations, particularly vs local interest rates….
Believe a charged economic growth rate and easy comparables (3yr leases signed during the 2009 recession roll by 2012) will keep upward pressure on rental rev. Add that CCT has lagged its MegaOffice peers, underperforming the STI by 1% YTD. Tip CCT, as the most liquid proxy to the office rental upcycle, CCT trades at 0.93x P/B, 5.3% FY12 yield.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment