Frasers Centrepoint Trust (FCT)

Frasers Centrepoint Trust acquires 17.1% stake in PGIM Real Estate AsiaRetail Fund for $342.5 mil

SINGAPORE (Feb 28): The manager of Frasers Centrepoint Trust (FCT) announced that its wholly-owned subsidiary, FCT Holdings (Sigma), will be acquiring a 17.13% stake in PGIM Real Estate AsiaRetail Fund for a consideration of $342.5 million.

FCT will be acquiring 90,346 shares in PGIM Real Estate AsiaRetail Fund from some of its shareholders in 12 conditional sale and purchase agreements.

The ups and downs of Frasers Centrepoint Trust's 1Q19 performance

SINGAPORE (Jan 23): OCBC Investment Research and Phillip Capital are maintaining their “buy” and “neutral” calls on Frasers Centrepoint Trust (FCT) with the respective fair value and price target of $2.50 and $2.21.

This comes post the release of the trust’s 1Q19 results which saw 1Q DPU grow 0.7% y-o-y to 3.02 cents, in line with both research houses’ expectations.

Frasers Centrepoint Trust posts 0.7% higher 1Q DPU of 3.02 cents

SINGAPORE (Jan 21): The manager of Frasers Centrepoint Trust (FCT) has announced a DPU of 3.02 cents for the 1Q19 ended Dec, up 0.7% year-on-year.

Gross revenue for 1Q19 was up 2.9% year-on-year to $49.3 million and net property income for the quarter was up 2.5% at $35.4 million.

The growth was led by Changi City Point and Northpoint City North Wing on improved gross rental income and higher turnover rent achieved. Causeway Point registered revenue growth of 1.1%.

Go on the defensive with these S-REITs next year, says OCBC

SINGAPORE (Dec 4): OCBC Investment Research expects Singapore REITs (S-REITs) to record positive DPU growth next year.

For those under its coverage, OCBC is projecting growth of 0.3% for FY19F and 2.4% for FY20F.

In terms of sub-sector preference, OCBC prefers retail REITs, followed by industrial REITs, hospitality REITs and office REITs.

“Heading into 2019, we maintain ‘neutral’ on S-REITs, but with a bias to the upside,” says OCBC lead analyst Andy Wong Teck Ching in a Monday report.

Analysts stay upbeat on Frasers Centrepoint Trust on dominant mall positioning

SINGAPORE (Oct 25): Frasers Centrepoint Trust (FCT) on Thursday reported a DPU of 2.862 cents for 4Q18, 3.6% lower compared to the DPU of 2.970 cents in 4Q17, bringing FY18 to a new high of 12.015 cents, 1.0% higher than 11.90 cents in FY17.

Gross revenue for the quarter was 0.5% higher at $48.5 million, compared to $46.2 million last year. The growth was led by Northpoint City North Wing (NCNW), which saw higher average rental and improved occupancy following the completion of the asset enhancement initiative (AEI) works last year.

Frasers Centrepoint Trust posts 3.6% 4Q DPU of 2.862 cents

SINGAPORE (Oct 24): The manager of Frasers Centrepoint Trust (FCT) reported a DPU of 2.862 cents for 4Q18, 3.6% lower compared to the DPU of 2.970 cents in 4Q17.

This brings FY18 to a new high of 12.015 cents, 1.0% higher than 11.90 cents in FY17.

Distribution to unitholders in 4Q18 dropped by 3.4% to $26.5 million from $27.5 million a year ago.

During the quarter, gross revenue was 0.5% higher at $48.5 million, compared to $46.2 million last year.

Go defensiveness after this week's market meltdown, says OCBC

SINGAPORE (Oct 12): The Dow Jones Industrial Average on Wednesday fell more than 800 points while the S&P 500 had its worst day since February as technology stocks were battered.

Another reason for the meltdown was the spike in the US 10-year Treasury bond yield from 3.06% on Oct 2 to 3.18% on Oct 3 and subsequently to a 7-year high of 3.23% on Oct 5.

On the back of poor market sentiment, the Straits Times Index declined 2.7% or 84 points on Thursday.

S-REITs remain good defensive play despite uncertainties ahead

SINGAPORE (Sept 5): OCBC Investment Research says the Singapore REIT sector remains a good defensive shelter for investors amid macroeconomic uncertainties.

For the S-REITs under its coverage universe, OCBC is projecting stable DPU growth of 1.7% for FY18/19 and 1.6% for FY19/20.

“Looking ahead, we have tempered our expectations for the hospitality sector, and now expect more muted DPU growth from hospitality REITs under our coverage,” says OCBC analyst Andy Wong Teck Ching in a Tuesday report.

Why Frasers Centrepoint's two northern malls are doing well

SINGAPORE (Sept 5): It's no wonder why Frasers Centrepoint Trust's Northpoint City and Causeway Point are two of the biggest malls in the northern region.

Given the two malls are well connected to MRTs and bus stations, they have been performing well with occupancy rates of over 98% and relatively consistent positive rental reversions.

And the outlook for the two malls appears bright.

Flight to safety driving investor interest in SREITs

SINGAPORE (Aug 24): There has been good interest in SREITs over the last couple of months with the sector bouncing 4.6% from the lows in June, says DBS Group Research.

The rebound was due to property funds switching from developers due to the additional property cooling measures in Singapore and generalist funds seeking yield given the uncertain macro backdrop arising from the trade war between China and the US.

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