On Tuesday, CapitaLand Retail China Trust (SGX: AU8U), or CRCT, released its 2018 third quarter earnings update. As a quick introduction, CRCT is a Singapore-based real estate investment trust (REIT) which owns shopping malls in China, Hong Kong and Macau.
Here are 9 things investors should know about CRCT’s latest results:
1. Gross revenue for the reporting quarter declined by 1.1% to S$55.4 million, but net property income increased by 2.2% to S$36.7 million.
2. Distribution per unit (DPU) grew 1.7% year-on-year to 2.41 cents.
3. Based on CRCT’s annualised DPU of 10.43 cents and its unit price of S$1.37 (as of time of writing), the REIT has a trailing distribution yield of 7.6%.
4. As of 30 September 2018, the REIT’s gearing stood at 35.9%, which is a safe distance from the regulatory ceiling of 45%.
5. The REIT’s portfolio had a committed occupancy rate of 97.7% at the end of the quarter.
6. The weighted average lease expiry (by gross rental income) was at 2.9 years as of 30 September 2018.
7. In the latest quarter, the average rental reversion rate was up 12.1% as compared to last year.
8. Shopper traffic was up 19.6% year-on-year for the latest quarter.
9. Portfolio tenants’ sales per square meter was up by 4.0% in this quarter as compared to the same period last year.
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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 Lawrence Nga doesn’t own shares in any companies mentioned. Motley Fool Singapore has a recommendation for Capitaretail China Trust.