Frasers Centrepoint Trust - UOB Kay Hian 2024-02-06: Pivoting Towards Dominant Suburban Malls

Frasers Centrepoint Trust - Pivoting Towards Dominant Suburban Malls

Published:
Frasers Centrepoint Trust (SGX:J69U) | SGinvestors.ioFrasers Centrepoint Trust (SGX:J69U)
  • The acquisition of an additional 24.5% stake in NEX is accretive to Frasers Centrepoint Trust's pro forma 2023 DPU by 0.4%. We expect the acquisition to be completed in end-2QFY24 and contributions to kick in starting 3QFY24.
  • - Read this at SGinvestors.io -
  • rightsizing its tenant mix to reduce the reliance on anchor tenants.
  • Frasers Centrepoint Trust provides defensive FY25 distribution yield of 5.3%. Maintain BUY.

Rebalancing towards dominant suburban malls.

  • Frasers Centrepoint Trust (SGX:J69U) has entered into a share purchase agreement to acquire an additional 24.5% effective interest in suburban mall NEX from sponsor Frasers Property (SGX:TQ5) for S$523.1m, bringing its effective interest to 50.0%. The agreed value for NEX is S$2,127.0m or S$3,352psf.
  • - Read this at SGinvestors.io -

Benefitting from demographic tailwind due to strategic location.

  • Read more at SGinvestors.io.




Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.




Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-02-06



Previous report by UOB:
2024-01-24 Frasers Centrepoint Trust 1QFY24 - Upside From Enhancing Tampines 1 & NEX.

Price targets by 3 other brokers at Frasers Centrepoint Trust Target Prices.

Listing of research reports at Frasers Centrepoint Trust Analyst Reports.

Relevant links:
Frasers Centrepoint Trust Share Price History,
Frasers Centrepoint Trust Announcements,
Frasers Centrepoint Trust Dividends & Corporate Actions,
Frasers Centrepoint Trust News Articles





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