Frasers Logistics & Commercial Trust - CGS-CIMB Research 2022-02-08: Tailwinds For Inorganic Growth

Frasers Logistics & Commercial Trust - Tailwinds For Inorganic Growth

FRASERS LOGISTICS & COMMERCIAL TRUST (SGX:BUOU) | SGinvestors.ioFRASERS LOGISTICS & COMMERCIAL TRUST (SGX:BUOU)
  • Frasers Logistics & Commercial Trust (SGX:BUOU)’s portfolio occupancy improved in 1QFY22 (Oct 2021 to Dec 2021), moderated by negative reversions.
  • Frasers Logistics & Commercial Trust recently announced the sale of 2-24 Douglas Street, Port Melbourne for A$42.5m and divestment of Cross Street Exchange. Gearing stood at a healthy 34.3% at end-1Q and management expects this ratio to trend down to 29.8%. This puts Frasers Logistics & Commercial Trust in a strong position to tap inorganic growth including new acquisitions.
  • We cut our FY22-24F DPU estimates for Frasers Logistics & Commercial Trust by 1.7-5.2% to bake in income vacuum from the two asset divestments, to be completed by 1H22F, partly offset by interest cost savings from utilising divestment proceeds to pare down debt in the near term. We have not assumed recycling of divestment proceeds into new acquisitions.



Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.



LOCK Mun Yee CGS-CIMB Research | EING Kar Mei CFA CGS-CIMB Research | https://www.cgs-cimb.com 2022-02-08
SGX Stock Analyst Report ADD MAINTAIN ADD 1.56 DOWN 1.620




Read also CGS-CIMB's most recent report:
2022-05-06 Frasers Logistics & Commercial Trust - Stable Performance

Check out the most recent target prices at Frasers Logistics & Commercial Trust Target Prices. Listing of analyst research reports at Frasers Logistics & Commercial Trust Analyst Report.

Relevant links:
Frasers Logistics & Commercial Trust Share Price History,
Frasers Logistics & Commercial Trust Announcements,
Frasers Logistics & Commercial Trust Dividends & Corp Actions,
Frasers Logistics & Commercial Trust News Articles





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