- 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 the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Darren Chan Phillip Securities Research | http://www.poems.com.sg/ 2024-10-28
Previous report by Phillip:
2024-07-26 Frasers Centrepoint Trust - Low Occupancy Cost To Drive Rental Reversion.
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
