Dividend Yield | 5.64% |
P/B Ratio | 0.93 |
Aggregate Leverage Ratio | 38.5 |
Occupancy Rate | 96.7% |
WALE | 3.3 year(s) |
Interest Coverage Ratio | 3.1 times |
Fixed Rate Debt | 81% |
Ex-dividend Date | 12 Feb 2025 |
Record Date | 13 Feb 2025 |
Payout Date | 21 Mar 2025 |
Type | Retail & Office |
Remarks
Despite the challenging, high interest rate environment, CICT still managed to grow its revenue (+1.2%) and NPI (+1.3%) year over year.
CICT's debt profile remained stable in 2H 2024. The aggregate leverage ratio strengthened from 39.4% to 38.5%, and the ICR increased from 3.0x to 3.1x. Overall, the debt profile remains stable and healthy.
CICT's portfolio occupancy rate, at 96.7%, is healthy. The REIT also achieved favorable FY 2024 rental reversion rates of 8.8% for its retail and 11.1% for its office portfolios.
CICT's debt maturity distribution is well-staggered over the next several years, with 10% due in 2025, 12% in 2026, and the rest for 2027 and beyond. Should the higher interest rate environment persist throughout 2025, only about 10% is due for refinancing with higher rates.
The tenant mix is diversified across many industries. The largest contributes 4.9% of CICT's gross rental income, and the second largest contributes 1.7%. The rest contribute less than 1.7% each.
Geographical Exposure
Singapore | 94.5% |
Australia | 2.9% |
Germany | 2.6% |
Sectoral Exposure
Retail | 65.3% |
Office | 34.7% |
Dividend Distribution History (DPU)
Debt Maturity Profile
In $ millions
Show debt maturity profile details
Fiscal Year | Debt (in $ millions) | Percentage |
---|---|---|
FY25 | 1,022 | 10% |
FY26 | 1,215 | 12% |
FY27 | 1,941 | 19% |
FY28 | 1,921 | 18% |
FY29 | 1,498 | 15% |
FY30 | 1,111 | 11% |
FY31 | 305 | 3% |
FY32 | 250 | 2% |
FY33 | 258 | 3% |
FY34 | 475 | 5% |
FY35 | 200 | 2% |
Disclaimer: We do not guarantee the data above is accurate. The information presented here is for general information only. It is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice or recommendation of any sort. Please do your own research before investing.