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o wow bounced straight up haha. Hmm break thru tomorrow?
broke support at $1.99. This baby's going down!
JPMorgan downgrades CapitaCommercial Trust to Neutral from Overweight, cuts target price to $2.10 from $2.30. Broker says Singapore REITs, or S-REITs, facing rising capital costs, funding needs likely to cap stock's performance; "the risk and return profile of CCT no longer looks attractive when compared to the S-REITs sector." Estimates trust needs about $1.3 billion in debt capital in next 12 months to finance acquisition of One George Street, refinance expiring loans.
it doesn't look too good for a start of the day whereby the region and market sentiments in the green...and this is in the red
| Time | Last | Volume | Buy/Sell |
| 09:15:49 | 2.250 | 139,000 | Sell Down |
| 09:15:43 | 2.260 | 123,000 | Sell Down |
| 09:15:03 | 2.270 | 10,000 | Buy Up |
| 09:13:24 | 2.270 | 5,000 | Buy Up |
| 09:12:41 | 2.270 | 4,000 | Sell Down |
| 09:12:23 | 2.280 | 65,000 | Sell Down |
hopefully this will be a gd re-start:
| Time | Last | Volume | Buy/Sell |
| 12:12:01 | 2.310 | 30,000 | Buy Up |
| 12:10:36 | 2.300 | 114,000 | Buy Up |
DJ MARKET TALK: CS Ups CapitaCommercial Trust Target To S$2.33
0102 GMT [Dow Jones] STOCK CALL: Credit Suisse raises CapitaCommercial Trust (C61U.SG) target price to S$2.33 from S$2.20; reiterates Outperform rating. Broker says in note, target price upgrade reflects increased retail rental forecasts, "to reflect our positive outlook for the retail sector." Says new central retail supply can be readily absorbed as demand is growing, driven by rapid tourism growth. Expects higher retail rental forecast to boost trust's FY08 DPU by 1.4%.
Yield is now at 4.55%
Office rent is now at the peak?
And more office space in the pipeline?
Then the only way for e rent to do is down.
Then CCT will inch lower to reach a reasonable yield of 5-6% ,
Looks like there are still some downside to go. Will be watching.
CCT price has dropped a fair bit. Is this a good time to accumulate ???
SJ members, any views on this counter?? Thanks.
CapitaCommercial Trust (CCT) released its 2Q07 results on Friday. Revenue came in at S$59.4m (+2.5% QoQ) with distributable income at S$29.3m (+0.1% QoQ) and distributable income per unit (DPU) at 2.12 cents (+0.5% QoQ). We were expecting a DPU of 2.17 cents. In the results, CCT also announced the proposed acquisition of Wilkie Edge, a mixed development (retail, service residential and office) from its sponsor CapitaLand for S$262m. With this acquisition, CCT appears to be changing its strategy by going for pre-completed and untenanted assets. This raises the risk profile and reflects the difficulty in acquiring accretively. Completion of the acquisition is expected by end 2008. The outlook for the office sector remains good for the next two years due to limited supply. CCT is the key beneficiary of this macro trend. Hence, we anticipate strong organic earnings growth. However, at present trading level, we see limited upside potential. We thus maintain our HOLD rating with a fair value estimate of S$2.62, based on a target asset size of S$5.5bn. From OCBC.
QUOTES:
Singapore office landlord CapitaCommercial Trust (CCT) said Friday its distributable income in the first half to June was up 87.3 percent year-on-year at 58.5 million Singapore dollars on the back of rising rental income and contributions from its stake in Raffles City acquired last September The distribution per unit for the period is 4.23 cents, beating its own forecast of 3.78 cents, CCT said.
"For first half 2007, rental rates registered robust growth as the weighted average rent increase achieved was 66.0 percent against preceding rent and 24.9 pecent against forecast rent for both new leases and renewals," CCT said.
Going forward, the trust said growth will be aided with over 50 percent of its office leases up for renewal in 2008 and 2009. Meanwhile, CCT announced it will buy a mixed 29,812 square meters development property, Wilkie Edge, here for 262 million Singapore dollars.
The 12-storey property, with retail, office, and serviced apartments, is expected to be completed in the fourth quarter of next year. "With the acquisition of Wilkie Edge, our total assets will grow to approximately 4.8 billion Singapore dollars," Richard Hale, chairman of CCT's manager said.
"To maintain future growth, besides buying completed buildings, our core strategy will include acquiring buildings under development on a pre-commitment basis and taking direct stakes in development projects, both in Singapore and abroad," he said. CCT has nine properties here, a 30 percent stake in Malaysian office landlord Quill Capital Trust, and a 7.4 percent stake in CapitaLand's private Malaysian real estate fund, The Malaysia Commercial Development Fund.
"As the prospects of office market rentals in Asia remain positive, CCT will look at acquiring commercial assets in Asia including Vietnam," it said.
Good, Today CapitaComm up 6 cents to 2.97.
Hi, SingaporeGal, Any trend reversal in sight???
Hi mirage,
The TA charts show mixed signals... hard to tell for this counter. If I were to guess, I would say its slightly more on the bearish side.
Hi SingaporeGal, Any views on CapitaComm, is 2.90 a good entry price? TA / FA gurus, SJ members, any views on this counter????? Thanks.