Frasers Centrepoint Trust - Phillip Securities 2024-10-28: Upside From Tampines 1 AEI Completion

• Frasers Centrepoint Trust's 2HFY24/FY24 DPU of 6.02/12.04 Singapore cents was unchanged/0.9% lower y-o-y, in line with our expectations and formed 50%/99% of our FY24e forecast.
• - Read this at SGinvestors.io -
• Retail portfolio occupancy remains high at 99.7%. Rental reversions for FY24 were robust at +7.7% (FY23: +4.7%). In FY24, shopper traffic and tenants’ sales were up 4.2% and 1.2% y-o-y, respectively. Tenants’ sales are now at 20% above pre-COVID 2019 levels.
• The AEI at Tampines 1 was completed on schedule with a return on investment exceeding the 8% initial target. Portfolio valuation rose 1.2% y-o-y to S$7bn with unchanged cap rates.
• - Read this at SGinvestors.io -

The Positives

Stable portfolio occupancy at 99.7% (unchanged q-o-q).

• Read more at SGinvestors.io.

Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Read also Phillip's most recent report:
2025-01-24 Frasers Centrepoint Trust - Key Metrics Remain Healthy.

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 Dividend Payout Dates & Corporate Actions,
Frasers Centrepoint Trust News