Frasers Logistics & Commercial Trust 2HFY24 - UOB Kay Hian 2024-11-07: Logistics Properties Propel Growth & Rental Reversion

• Frasers Logistics & Commercial Trust reported DPU of 3.32 cents for 2HFY24 (- 5.7% y-o-y), marginally below our expectation.

Growth from development project and acquisitions.

• - Read this at SGinvestors.io -
• NPI margin narrowed 3.2ppt y-o-y to 69.9% due to higher non-recoverable land taxes in Australia. Finance costs increased 45.6% y-o-y.

Logistics drove strong positive reversions.

• Frasers Logistics & Commercial Trust achieved strong positive rental reversion of 36.4% on an average incoming vs average outgoing basis for logistics properties in 4QFY24.
  • - Read this at SGinvestors.io -
  • Logistics properties at Nuremburg & Leipzig in Germany provided positive rental reversion of 7.9%.

Logistics properties maintained full occupancy.

• Read more at SGinvestors.io.

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:
2025-05-16 Frasers Logistics & Commercial Trust 1HFY25 - Decent Yield Even After Stripping Out Capital Distribution.

Previous report by UOB:
2025-02-10 Frasers Logistics & Commercial Trust - Resiliency & Growth From Focus On Logistics Properties.

Price targets by 2 other brokers at Frasers Logistics & Commercial Trust Target Prices.

Listing of research reports at Frasers Logistics & Commercial Trust Analyst Reports.

Relevant links:
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Frasers Logistics & Commercial Trust Dividend Payout Dates & Corporate Actions,
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