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Analysts positive on FLCT upon completion of Cross Street Exchange divestment

Chloe Lim
Chloe Lim5/10/2022 01:32 PM GMT+08  • 4 min read
Analysts positive on FLCT upon completion of Cross Street Exchange divestment
The analysts also like the REIT’s ‘stable’ 1HFY2022 results
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Analysts are positive on Frasers Logistics Commercial Trust (FLCT) as they expect potentially higher capital distribution from the Cross Street Exchange (CSE) divestment to be helpful for FY2022.

For the 1HFY2022 ended March, FLCT’s revenue and adjusted net property income (NPI) grew 1.7% and 3.6% y-o-y to $235.7 million and $180.1 million respectively.

In addition, ​​FLCT’s overall portfolio rental reversions came in at 2.6% up in 2QFY2022 ended March, which can be split into 2.1% up for its logistics and industrial (L&I) portfolio, and 2.6% up for its commercial assets.

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