1. A solid financial report accompanied by a higher portfolio valuation
CICT reported a healthy increase in revenue and net property income (NPI) for the second half of 2023 (2H 2023). Gross revenue rose 4.1% year on year to S$785.2 million while NPI increased by 4% year on year to S$563.6 million because of broad-based rental income growth across the REIT’s portfolio. 2H 2023’s DPU came in at S$0.0545, 1.7% higher than the S$0.0536 paid out a year ago. For 2023, gross revenue climbed 8.2% year on year to S$1.56 billion with NPI improving by 7% year on year to S$1.12 billion....CapitaLand Integrated Commercial Trust (SGX: C38U), or CICT, is the next in line to report its full-year 2023 earnings.
The retail and commercial REIT did not disappoint.
Not only did it report a higher distribution per unit (DPU) than in 2022, but it also sported robust operating and debt metrics.
Here are five highlights from the diversified REIT’s latest earnings that investors should pay attention to.
