- 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 the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-11-07
Previous report by UOB:
2024-08-06 Frasers Logistics & Commercial Trust - Strong Positive Rental Reversion From Australia In 3QFY24.
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:
Frasers Logistics & Commercial Trust Share Price History,
Frasers Logistics & Commercial Trust Announcements,
Frasers Logistics & Commercial Trust Dividends & Corporate Actions,
Frasers Logistics & Commercial Trust News Articles
