Frasers Centrepoint Trust - RHB Invest 2024-07-26: Stable & Steady

Frasers Centrepoint Trust - Stable & Steady

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Frasers Centrepoint Trust (SGX:J69U) | SGinvestors.ioFrasers Centrepoint Trust (SGX:J69U)
  • Frasers Centrepoint Trust (SGX:J69U)’s 3QFY24 business update showed stable operational numbers across its malls, with no major surprises. Tenant sales growth is starting to plateau, which could result in softer rent reversions ahead.
  • - Read this at SGinvestors.io -
  • The risk-reward profile is finely balanced, and investors should accumulate on dips.

Stable occupancy and mid-single-digit rent reversions.

  • Its retail portfolio’s committed occupancy rate dipped by 0.2ppt to 99.7%, and management attributed this mainly to transitional vacancies.
  • On retail rent reversions, Frasers Centrepoint Trust guided that these are similar levels to that of 1HFY24’s +7.5%. Tenant sales growth for the quarter, however, softened to +0.7% y-o-y (2QFY24: +4.3% y-o-y) – a sign of sales normalising from the post-pandemic spurt last year.
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Tampines 1 has achieved a full committed occupancy rate

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Vijay Natarajan RHB Securities Research | https://www.rhbgroup.com/ 2024-07-26



Read also RHB's most recent report:
2024-10-28 Frasers Centrepoint Trust - Strengthening Its Suburban Mall Positioning.

Price targets by 5 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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