Frasers Centrepoint Trust - DBS Research 2024-10-28: 4 Reasons To Give 3 Cheers

• Frasers Centrepoint Trust reported full-year FY24 gross revenue of S$351.73mil (-4.9% y-o-y) and NPI of S$253.4mil (-4.6% y-o-y). This reflects both the divestment of Changi City Point (CCP) and asset enhancement initiative (AEI) at Tampines 1, which concluded in August this year. FY24 results above expectations.
• - Read this at SGinvestors.io -

Distributable income rose 3.2% y-o-y

• Distributable income rose 3.2% y-o-y to S$214.3mil, from higher management fees paid in units for the period (68% fees paid in units in this financial year to shelter from AEI impact), alongside a turn in both average interest cost (-1.0ppt q-o-q) and financing cost in 2H24 (-6.2% y-o-y).
• Frasers Centrepoint Trust's DPU for FY24 declined marginally by 0.9% y-o-y to 12.042 cents to account for additional equity fund raising (EFR) units, and came in ahead of our estimates.
• - Read this at SGinvestors.io -

Reversions of +7.7% for this FY ahead of estimates.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Previous report by DBS:
2024-04-26 Frasers Centrepoint Trust - Maintaining An A+ Scorecard.

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