Frasers Hospitality Trust (FHT)

Frasers Hospitality Trust offers 'undemanding valuations' even as Singapore sector sees turnaround, analysts say

SINGAPORE (Nov 1): Analysts believe signs of a bottoming out of Singapore’s hospitality sector could bode well for Frasers Hospitality Trust (FHT), despite continued weakness in Australia.

FHT saw its full-year distribution per stapled security (DPS) fall 7.3% to 4.4129 cents for FY19, from DPS of 4.7613 cents a year ago.

The decline was partly due to an absence of a one-off tax provision write-back recognised in 4Q18, and also due to weaker performances from Australia and Malaysia.

Frasers Hospitality Trust posts 4.1% decline in 4Q DPS to 1.1655 cents on absence of one-off gain

SINGAPORE (Oct 30): The managers of Frasers Hospitality Trust (FHT) have announced distribution per stapled security (DPS) of 1.1655 cents for the 4Q19 ended September, some 4.1% lower than DPS of 1.2154 cents a year ago.

This brings full-year DPS to 4.4129 cents for FY19, some 7.3% lower than DPS of 4.7613 cents a year ago.

Income available for distribution fell 2.9% to $22.3 million in 4Q19, on the absence of a write-back of tax provision that was included in the distributable income in 4Q18.

Frasers Hospitality Trust posts 10.2% drop in 3Q DPS to 1.0086 cents

SINGAPORE (July 31): Frasers Hospitality Trust (FHT) has announced distribution per stapled security (DPS) of 1.0086 cents for the 3Q19 ended June, some 10.2% lower than DPS of 1.1226 cents a year ago.

Income available for distribution fell 9.0% to $19.2 million, from $21.1 million a year ago.

3Q19 gross revenue dropped 8.4% to $35.0 million, compared to $38.2 million in the corresponding quarter last year.

Frasers Hospitality Trust kept at 'buy' despite weakness Down Under

SINGAPORE (May 31): Maybank Kim Eng Research is keeping its “buy” call on Frasers Hospitality Trust (FHT) with an unchanged target price of 85 cents, following a slow 2Q19 where distribution per unit (DPU) fell 11.5% y-o-y in line with consensus estimates.

In 2Q19, FHT saw its gross revenue fall 7.6% to $34.6 million while net property income (NPI) was down 9.1% to $25.2 million.

The decline was mainly due to weaker performance at its portfolios in Australia, Malaysia and Japan.

Sydney divestment to propel Frasers Hospitality Trust's growth in Europe: Maybank

SINGAPORE (Feb 1): Maybank Kim Eng is maintaining its “buy” call on Frasers Hospitality Trust (FHT) with an unchanged price target of 80 cents after the REIT’s 1Q19 DPU came in line with estimates at 1.2542 cents, down 4.3% y-o-y.

Frasers Hospitality Trust posts 4.3% decline in 1Q DPS to 1.2542 cents

SINGAPORE (Jan 30): Frasers Hospitality Trust has recorded distribution per stapled security (DPS) of 1.2542 cents for the 1Q19 ended December, 4.3% lower than DPS of 1.3107 cents a year ago.

Income available for distribution fell 3.0% to $23.7 million in 1Q19, from $24.4 million a year ago.

This was mainly due to lower gross revenue in 1Q19, which fell 2.0% to $40.6 million, compared to $41.5 million a year ago.

FHT said to put up Sofitel Sydney Wentworth for sale

SINGAPORE (Jan 29): Frasers Hospitality Trust (FHT) is putting up Sofitel Sydney Wentworth for sale at a time over A$1 billion worth of hotels are expected to change hands, according to The Australian.

Sofitel Sydney Wentworth is one of the last dowager hotels in Sydney and is said to be worth more than A$400 million ($388.4 million).

FHT first acquired the Sofitel Sydney Wentworth in 2014 for A$202.7 million. The hotel has 436 rooms, a restaurant, club lounge and conference facilities as well as one of Sydney’s largest pillarless ballrooms.

Frasers Hospitality Trust kept at ‘buy’ by DBS on quality portfolio

SINGAPORE (Oct 29): DBS Group Research is maintaining Frasers Hospitality Trust (FHT) at “buy” its portfolio of quality hotels is hard to replicate at its current trading yield.

FHT is also in a strong position to pursue acquisition opportunities as its gearing stands at 33-34% while the stock is trading at a high forward yield of 6.9% and at a discount to book with most of the risks factored in.

Frasers Hospitality Trust declares 4.8% lower 4Q DPS of 1.2154 cents

SINGAPORE (Oct 26): The manager of Frasers Hospitality Trust (FHT) has declared a 4Q18  DPS of 1.2154 cents, 4.8% below last year.

Gross revenue and net property income were $38.7 million and $29.4 million respectively, down 6.9% and 6.7% y-o-y. The declines were due to overall weaker portfolio performance except for the Singapore and Germany portfolios.

However, distributable income declined a smaller 3.4% y-o-y to $23 million due to a writeback of tax provision.

S-REIT sector kept at 'overweight' as earnings come within expectations: UOB

SINGAPORE (May 2): UOB Kay Hian is keeping “overweight” on Singapore REITs (S-REITs) post the announcement of Mapletree Logistics Trust (MLT) and Frasers Hospitality Trust’s (FHT) latest set of quarterly results, which the research house continues to rate “hold” and “buy” at target prices of $1.41 and 90 cents, respectively.

In a report last Friday, lead analyst Vikrant Pandey says both REIT’s results came in line with expectations, with MLT and FHT’s respective 4Q and 2Q distributions making up 100.1% and 47.6% of full- and half-year estimates.

Be informed of the stories that matter