- Shopper traffic and tenant sales at Frasers Centrepoint Trust (SGX:J69U)’s suburban malls increased 4.1% and 0.7% y-o-y respectively in 3QFY24. Portfolio occupancy was maintained at 99.7%.
- - Read this at SGinvestors.io -
Frasers Centrepoint Trust (FCT) reported its business update for 3QFY24:
Strong demand drives occupancies higher.
- Portfolio occupancy for retail properties improved 1.0ppt y-o-y but eased marginally by 0.2ppt q-o-q to 99.7% in 3QFY24. NEX, Waterway Point, Northpoint City North Wing and Tiong Bahru Plaza were fully occupied.
- Occupancies for all Frasers Centrepoint Trust's suburban malls were above 99.0%.
Achieved higher positive rental reversion.
- - Read this at SGinvestors.io -
- According to management, the positive momentum was maintained in 3QFY24.
Buoyant retail scene at suburban malls.
- 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/ 2024-07-26
Previous report by UOB:
2024-04-26 Frasers Centrepoint Trust - 1HFY24 resilient Growth In Consumption At Suburban Malls.
Price targets by 4 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
