FTSE Russell announces that there will be one change to the constituents of the Straits Times Index, following the March quarterly review. CapitaLand Commercial Trust will be added to the Index, while Noble Group will be removed.
CCT is now a Blue Chip~!!!!!!!
full details at
Over the last 12 months CCT’s stock price is down 20%, valuations wise the book value is around 1.70 and its current yield is 6% which is pretty decent.
In the previous STI 30 review, SATS/YZJ/UOL were added into the index and they when on a strong uptrend following the announcement, so I expect CCT to rally strongly in the short term with 1.50-1.60 being a good possibility.
In the longer term I expect CCT to trade at at least book value of 1.70 or higher as both CMT and AREIT are trading above book value…