2024-02-12 17:05:16 ET
Summary
- CPAMF's latest results were good, taking into account its distribution per unit and gross revenue growth in the latter half of 2023.
- The REIT's mid-term outlook is positive, as it is expected to achieve a +3.8% distribution per unit CAGR for FY 2024-2026 which is better than what it did pre-COVID.
- A Buy rating for CapitaLand Integrated Commercial Trust is warranted, as the REIT deserves to be valued at a lower yield considering its distribution per unit growth prospects.
Elevator Pitch
I rate CapitaLand Integrated Commercial Trust ( CPAMF ) [C38U:SP] as a Buy. I previously wrote about CPAMF's value creation levers in my July 9, 2021 update for this commercial REIT....
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For further details see:
CapitaLand Integrated Commercial Trust: Favorable Medium-Term Prospects