CapLand IntCom T    Last:2.28   -

CapitaLand Integrated Commercial Trust s(SGX:C38U)

I waiting for Christmas to come first

 

Waiting fr 1.91/1.93....

 

Congrats. That is the lowest you can get

vicloo      ( Date: 21-Dec-2021 16:28) Posted: Back in the game @ 1.96. Huat at all!!

 

Don' t be too happy yet......

vested. Pdyohwadfmb 

vicloo      ( Date: 21-Dec-2021 16:28) Posted: Back in the game @ 1.96. Huat at all!!

 

Back in the game @ 1.96. Huat at all!!

 

Now 1.98. Does not seem good?

Ling9345      ( Date: 15-Dec-2021 16:42) Posted: I add 10 lots for $2

 

DBS seems to be ramping FCT, CICT, down every retailer throat ... do remember what' s the coffee shops uncles said about CICT' s TP. I m heavily into it though. Below is another version from EDGE....nothing new, just post for fun

Time to ' bask in the sun' as recovery trends continue for these S-REITs: DBS

While the emergence of Omicron viral strain is a setback for Singapore&rsquo s reopening plans, DBS Group Research analysts Derek Tan, Rachel Tan, Dale Lai and Geraldine Wong  do not see domestic clampdown as a base case scenario for now.

" With the Singapore economy still strong, we see stronger domestic retail sales driving an approximately 5-6% rise in distribution per unit (DPUs) for retail and selected commercial S-REITs," write the analysts. 

It is now " time to bask in the sun" with S-REITs, write the analysts in a Dec 14 note, highlighting  Frasers Centrepoint Trust  (FCT),  Lendlease Global Commercial REIT(LREIT),  CapitaLand Integrated Commercial Trust  (CICT) and  Suntec REIT  (SUN).

Construction delays are pushing back office supply completions to 2023 or 2024, implying that rentals are likely to remain firm, say the analysts. " We like plays such as  Ascott Residence Trust  (ART) for its globally diversifed portfolio which will lead peers in a recovery."

DBS analysts project two-year DPU CAGR of some 8.0%. " The income disruption due to the Covid-19 pandemic in 2020 was unprecedented and some of its after-effects dragged our 2021 estimates down, especially in retail and hospitality sectors."
But portfolio net operating income (NOI) should gradually recover towards pre-Covid-19 levels, add the analysts. " As such, we project a robust 8.0% CAGR in DPUs over FY2022-2023F for the overall S-REITs sector, led by hospitality subsector and most of the subsectors achieving pre-Covid-19 levels in 2022."

" While the recent emergence of the Omicron variant has injected some uncertainty to the outlook in the near term, we believe that it will delay but not derail the current recovery trends," they add.

Retail and office S-REITs will  see strong rebound in earnings, say the analysts,  but DPUs will be marginally ahead of pre-Covid  levels. " The retail S-REITs were hit in 2020-2021 due to rental rebates which we believe to be a one-off. Additional rebates to tenants should be minimal in 2022 as recovery in consumer sentiment brings retail sales close to pre-Covid-19 levels,  while the arrival of tourists may push malls focused on discretionary shopping higher in 2022."

The focus in 2022 will be on the recovery in ancillary income sources such as improved foot traffic, eased restrictions on mall advertisements and promotions  and restart of atrium sales, they add.

Office S-REITs are projected to deliver better performance brought about by acquisitions and tapering of rental rebates, say DBS analysts.  " That said, with more companies adopting flexible working arrangements given improved productivity aided by technology, we see potential shadow space returning to the market in search of tenants."

Hotel S-REITs should mount a return of the &ldquo dark horse&rdquo in 2022, say analysts. " Hospitality-focused S-REITs should deliver strong growth in distributions as domestic travel momentum dials up with a boost from leisure travel given the establishment of vaccinated travel lanes (VTL). As such, we project a robust approximately 30% CAGR in DPUs over FY2022-2023F for this sub-sector."

Meanwhile, industrial S-REITs are a new economy play, say the analysts. " The industrial sector will remain in an oversupply situation in 2022 but we see the warehouse and business park space still remaining in a sweet spot. While organic growth prospects remain stable, acquisitions and development opportunities present upside to distributions as we expect acquisitions to continue."

" We believe that investors should take a balanced approach in their S-REIT picks for 2022, with a focus on growth and ability to deliver pre-pandemic DPUs. We also prefer S-REITs with pipelines which give them the ability to drive earnings surprises either through acquisitions or redevelopments."

 

 

 

If you just have enough money to invest in 2 office REITs LONG TERM. just take MCT, CICT......

Singapore office REIT sector still ' attractive' mixed commercial S-REITs preferred: DBS

DBS Group Research analysts Rachel Tan and Derek Tan remain positive on the Singapore office REITs sector as they see that the reopening of the country& rsquo s economy will continue to be a key theme in 2022. The Singapore government, which is looking at having more employees return to the office in 2022, is also another plus for the sector. 

The Singapore office REITs sector, which is currently trading at 0.9 times price-to-net asset value (P/NAV) on the whole, is deemed & ldquo attractive& rdquo to the analysts. 

Despite the work from home (WFH) default for the most of 2021, Singapore office rents registered a stronger recovery. This is seen in vacancy spaces at key buildings & ndash namely Asia Square Tower and CapitaSpring & ndash close to being fully committed, note the analysts. 

In addition, further delays in the completion of large new incoming supply such as Guoco Midtown and Central Boulevard Tower have provided a longer runway for office rents to recover, they add. 

Guoco Midtown is slated to be completed in FY2023, while Central Boulevard Tower is pegged to be completed in FY2024.
& ldquo The increasing & lsquo flight to quality& rsquo trend shows that good quality prime office buildings are still desired and will likely lead the recovery come 2022,& rdquo write the analysts from DBS. 

As 2022 marks the third year since the Covid-19 pandemic began, the analysts foresee that the adoption of hybrid working arrangements could increase, as companies increasingly adopt a more core, as well as flexible approach. This approach could lend more agility during times of uncertainty, say the analysts. 

& ldquo With limited new supply completions, based on leases coming due for the overall sector in 2022& ndash 2024, we estimate that up to 20% of potential downsizing from expiring leases in FY2022-FY2024 of up to 800,000 sq ft of shadow space is still manageable, in line with historical demand trends,& rdquo they write in a Dec 13 report. 

Within the sector, the analysts have expressed their preference for mixed commercial Singapore REITs (S-REITs) as they offer a stronger growth trajectory of 8% to 20% in FY2022. 

Mixed commercial S-REITs are likely to ride on the retail recovery following the low base in FY2021. They will also be a beneficiary from the return-to-office exodus. 

Of these S-REITs, Suntec REIT, CapitaLand Integrated Commercial Trust (CICT) and Mapletree Commercial Trust (MCT), are the analysts& rsquo top picks as they offer the strongest distribution per unit (DPU) growth in the FY2022 compared to their peers.

 

Retail S-REITs on the rise for FY2022

DBS Group Research analysts Geraldine Wong and Derek Tan say that Singapore' s retail sector is at an inflection point, with more positives in 2022 as consumer confidence remains high and tourists return, with top picks Frasers Centrepoint Trust (FCT), CapitaLand Integrated Commercial Trust (CICT), Lendlease Global Comm REIT (LREIT) and CapitaLand China Trust (CLCT) for overseas retail maintained. 

According to Wong and Tan, retail value (ex-F& B) has recovered to approximately 92% of normalised levels despite periodic " lockdowns" as local spending continued to outweigh the " lost tourist dollar" . 

" We believe that the pivot to more online spending will not be a significant disruptor in Singapore, as we have seen landlords and tenants embark on an omni-channel strategy with brick-and-mortar stores complementing online offerings," say the analysts. " With brighter economic prospects driving wage increases coupled with tourists returning into our shores, we see the retail sector on a stronger footing come 2022."  

Additionally, Wong and Tan foresee more catalysts ahead, with stronger traffic at malls to drive further upward trajectory in tenant sales, and retail S-REITs to post an approximate 5.6% jump in distributions. 

" With Singapore' s ' endemic approach' towards the COVID-19 pandemic, we believe that the risk from the Omnicron virus is unlikely to lead to a fullblown domestic lockdown. We believe that it is only a matter of time that border reopening and further domestic relaxation will restart sometime in 1QFY2022," say the analysts. 

Vaccinated travel lanes with partner countries encompass approximately 57% of historical inbound markets and will be a lift to tourist retail sales in FY2022 as well. In addition, the potential relaxation of restrictions on " atrium sales" will be a positive earnings surprise for selected landlords&ndash FCT, MCT, and CICT, which contribute between 3-5% of revenues, which have been " lost" since 2020.

Sector valuations are currently trading below book at 0.97 times close to its five-year historical mean of 1.01 times, where forward FY2022 yields are compelling at 5.6% for defensive big cap names FCT and CICT, according to the analysts. 

" We see lower downside risk of rental rebates in 2022 and conservatively priced in 0.5 months in our view, from 1-1.5 months this year," say Wong and Tan. 

Wong and Tan maintain top sector picks FCT on resilient tenant sales, CICT, and LREIT on border reopening and domestic relaxation play. " We also pick CLCT amongst foreign retail plays for attractive valuations at a 0.8x book and a rare 8% forward yield," the analysts added. 

 

 

I add 10 lots for $2

 

As explained earlier, those who got the private placements at $1.96
Do you think they will be rushing to sell at $1.96?
If yes, why would they even want to invest?
So who else will want to sell at $1.96 or even lower?
Will you?

Anyway, good luck waiting for that price range
Personally I feel, those who managed to get it at $1.99 are already very lucky
 

john_ric      ( Date: 15-Dec-2021 11:28) Posted: 1.93 _. 1.96 a good price to enter??

 

Usually very weak after fund raising. 1.90 below to be safe. 🤐

 

1.93 _. 1.96 a good price to enter??

 

Currently, it is exactly as per I had anticipated earlier
Or at least for now....

Maybe it is a good time to enter 
DYODD though
 

PhillipTan      ( Date: 08-Dec-2021 11:41) Posted: It is $1.96 Just the dip caused by the PP will not cause the price to fall to $1.96 or below, rightfully speaking Because if you are the new investor who bought at a discount at $1.96, will you be in a hurry to sell at $1.96 or lower? If you are an existing shareholder who is looking to exit, will you also sell at $1.96 or lower just because the PP is $1.96? Not likely to fall below $1.96 on xd too, at most $1.98-$1.99 My guess is $1.99-$2.00 DYODD though  louise_tieh      ( Date: 08-Dec-2021 10:23) Posted: Hi - just to check, based on the statement below - if i want to start invest in this counter, i should wait for somewhere around 1.93-1.98? thanks! CAPITALAND Integrated Commercial Trust' s (CICT) manager on Tuesday (Dec 7) proposed a private placement of about 103.6 million new units at an issue price of between S$1.930 and S$1.981 per new unit to raise at least S$200 million in gross proceeds.

 

Don' t know if this the tau lau sai, coffee shop uncles are referring to.... inspite of two days down, most REITS are quite resilient..... could be market responding to report of Omicron deaths, and US crossing the 800 k Covid deaths... keep watching la.

Lobster      ( Date: 08-Dec-2021 16:07) Posted: Not so crude la.... coffee shops uncles although uneducated are actually very gentle.. anyway I am not the originator of this phase...it actually can mean don' t follow (black) market blindly or don' t follow me blindly since I am the kapo mouthpiece of coffee shops gossips... Talking of which, according to the black market uncles, there could another big round of lau sai (for most REITs) before the diarrhoea subsides.... I also don' t why they speculate this, and also why one round only... pdyohwadfmb..... please! Superwhite      ( Date: 08-Dec-2021 14:10) Posted: P lease D o Y our O wn H omework A nd D on' t F ollow M y B utt    ???

 

DBS reinstates coverage on CICT with " buy" , TP of $2.50

DBS Group Research has reinstated coverage on CapitaLand Integrated Commercial Trust with a " buy" call and target price of $2.50.

In a Dec 10 research note, analysts Rachel Tan and Derek Tan state that CICT is a key proxy and beneficiary of the reopening play. " We estimate CICT could deliver c.12% of DPU growth in FY2022 and a 9% two-year compound annual growth rate, one of the stronger growth rates among peers," they say.

Despite concerns surrounding the Omicron variant dampening reopening optimism, the analysts believe that quicker recovery is around the corner, underpinned by faster response from pharmaceutical companies and higher levels of vaccination rates.

To that end, the analysts anticipate CICT to benefit as tourists and employees gradually return to the CBD malls, which make up 50% of its portfolio.

In terms of office space, Rachel and Derek highlight that office vacancy concerns are a transitioning to a thing of the past for CICT given that CapitaSpring and Asia Square Tower 2 have achieved almost full committed occupancy. In addition, they note that newly completed and refurbished buildings will begin contributions in FY2022, including 21 Collyer Quay and Six Battery Road.

The analysts are also bullish on CICT' s access to good-quality office assets in Singapore from its sponsor. " CICT is one of the few commercial Singapore REITs that has the opportunity to acquire two newly completed prime Singapore office assets (79 Robinson and the remaining 50% stake in CapitaSpring) from its sponsor," they point out.

" As CICT had decided to upsize its latest private placement to $250m, we estimate that CICT has remaining cash (post divestment of One George St and acquisition of Australia assets) of [around] $250m, which gives them some firepower to acquire its next asset," they add.

On the whole, Rachel and Derek view CICT, as the largest Singapore REIT, is too big to ignore. " The company' s integrated commercial assets drive synergistic value and its size offers a bigger platform to grow with acquisitions of integrated development led by the rising global trend of live-work-play," they conclude.

Their target price of $2.50 implies a P/NAV ratio of 1.25 times, which is below one standard deviation of its historical range.

 

 

current price about the same as before announcement of placement at 196. considering the dilution effect and 4.8c dividend to be paid. leaving little bit of profit for the big banks effort of subscribing and distributing. if tonight us core inflation rate is as forcast 4.9% yoy, think the market will continue as normal.

 

thanks for the advice, will monitor the price and buy some.

PhillipTan      ( Date: 08-Dec-2021 11:41) Posted: It is $1.96 Just the dip caused by the PP will not cause the price to fall to $1.96 or below, rightfully speaking Because if you are the new investor who bought at a discount at $1.96, will you be in a hurry to sell at $1.96 or lower? If you are an existing shareholder who is looking to exit, will you also sell at $1.96 or lower just because the PP is $1.96? Not likely to fall below $1.96 on xd too, at most $1.98-$1.99 My guess is $1.99-$2.00 DYODD though  louise_tieh      ( Date: 08-Dec-2021 10:23) Posted: Hi - just to check, based on the statement below - if i want to start invest in this counter, i should wait for somewhere around 1.93-1.98? thanks! CAPITALAND Integrated Commercial Trust' s (CICT) manager on Tuesday (Dec 7) proposed a private placement of about 103.6 million new units at an issue price of between S$1.930 and S$1.981 per new unit to raise at least S$200 million in gross proceeds.

 

Just like the idiot who say CapitaLand will drop below $3?

RazorRizal      ( Date: 08-Dec-2021 16:06) Posted: Good time to sell and then re-enter when is is less than 2. vicloo      ( Date: 08-Dec-2021 15:21) Posted: Better sell now above 2, buy back again at 1.93... 👆 👍