CapitaLand Commercial Trust’s 2015 Annual Report: 10 Numbers Investors Should Know

CapitaLand Commercial Trust  (SGX: C38U) is one of the many companies and real estate investment trusts (REITs) that have released their latest annual reports over the past few weeks.

The annual report is a great place to learn more about a stock. CapitaLand Commercial Trust’s latest 2015 annual report had a chockful of interesting numbers. Here are 10 that may be worth knowing for investors:

  1. CapitaLand Commercial Trust is the largest commercial REIT in Singapore’s stock market. Recently, the REIT was also included into the local market barometer, the Straits Times Index (SGX: ^STI). At the end of 2015, the REIT’s total deposited property had a value of S$7.7 billion. CapitaLand Commercial Trust boasts a portfolio of 10 prime commercial properties in Singapore, including joint ventures.
  2. Prime locations has its benefits. CapitaLand Commercial Trust had a portfolio occupancy rate of 97.1% as of the end of 2015. The REIT also had 634 tenants and a tenant retention rate of 83% in 2015.
  3. CapitaLand Commercial Trust ended the year with an aggregate leverage 29.5%. This could leave some space for acquisitions in the future. Notably, CapitaLand Commercial Trust said that it has a debt headroom of $1.3 billion, assuming its aggregate leverage is pushed up to 40%.
  4. But wait, there’s more. With the completion of CapitaGreen, the REIT is able to again undertake new development projects worth up to 10% of its deposited properties. This headroom amounts to around $772.1 million as at 31 December 2015. (The REIT’s deposited properties, as mentioned earlier, have a collection value of S$7.7 billion.)
  5. The REIT also had an interest cover of 7.4 times. This is a marked improvement from five years ago when the interest cover was just 4.3 times. Furthermore, CapitaLand Commercial Trust said that 84% of its total borrowings at end-2015 are on fixed interest rates.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Chin Hui Leong doesn’t own shares in any companies mentioned.