Frasers Centrepoint Trust - UOB Kay Hian 2024-07-26: 3QFY24 Resilient Growth In Consumption At Suburban Malls

• 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%.
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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.

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• According to management, the positive momentum was maintained in 3QFY24.

Buoyant retail scene at suburban malls.

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

Read also UOB's most recent report:
2024-10-28 Frasers Centrepoint Trust 2HFY24 - Generating Organic Growth Through AEIs.

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 Dividend Payout Dates & Corporate Actions,
Frasers Centrepoint Trust News