Capitaland Mall Trust: Nomura reiterates its Buy rating for Capitaland Mall Trust with TP of $2.20, citing that the reit provides a potential total return of 19% for FY16.
The upside is attributable to DPU growth, expected to accelerate to 3.8% in FY16, largely on account of the maiden full-year income contribution from recently-acquired Bedok Mall. The reit manager also guides that the lower supply of new retail space in 2016-17F is also likely to provide some support for retail rents.
The reit is currently trading at an undemanding yield of 5.9%.
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