CapitaLand Mall Trust remains DBS’s mall owner of choice

SINGAPORE (July 27): DBS Vickers Securities is keeping its “hold” call on CapitaLand Mall Trust (CMT) with a higher target price of $2.23 from $2.20 previously.

CMT last Friday reported a 1.1% higher 2.74-cent distribution per unit (DPU) in 2Q from 2.71 cents last year, which is in line with the research house’s expectations.

In a Monday report, analysts Derek Tan and Mervin Song note that the trust’s share price has done well in recent times, benefiting from increased flows from “yield-hungry investors” given expectations of extension of the current low-rate environment looks.

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