SINGAPORE (Jan 22): Maybank Kim Eng is maintaining its “buy” call on Frasers Centrepoint Trust (FCT) with an unchanged target price of $2.55 after the trust’s manager reported a 1Q19 DPU of 3.02 cents, up 0.7% on-year due to improved occupancies across all of its assets and positive rental reversions.
See: Frasers Centrepoint Trust posts 0.7% higher 1Q DPU of 3.02 cents
The research house is remaining “positive” on the Singapore REITs (S-REITs) sector with a preference for hospitality and industrials for growth & yield catalysts, while FCT is its preferred retail play in the S-REITs space.
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