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RHB and CIMB keep Frasers Centrepoint Trust at ‘buy'

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SINGAPORE (July 25): RHB and CIMB are maintaining their “buy” rating on Frasers Centrepoint Trust (FCT) with a target price of $2.22 and $2.34 respectively.

This is despite a 1.3% decline y-o-y in its DPU for 3Q17 to 3 cents and a 3.3% y-o-y decline in its revenue for the same period.

See: Frasers Centrepoint Trust 3Q DPU falls 1.3% to 3 cents on impact of Northpoint AEI

Frasers Centrepoint Trust 3Q DPU falls 1.3% to 3 cents on impact of Northpoint AEI

SINGAPORE (July 24): The manager of Frasers Centrepoint Trust (FCT) has declared a distribution per unit (DPU) of 3 cents for the third quarter ended June, 1.3% down from the 3.04 cents DPU reported in the same period a year ago on lower revenue.

Revenue for 3Q17 was $43.6 million, down 3.3% y-o-y from the $45 million registered a year ago due to the trust’s ongoing asset enhancement initiative (AEI) works at Northpoint, which resulted in a loss of revenue from planned vacancies for the property.

Frasers Centrepoint Trust to strengthen foothold after reclaiming its rule in the North

SINGAPORE (April 26): DBS Vickers Securities continues to rate Frasers Centrepoint Trust (FCT) at “buy” with an unchanged target price of $2.20, commending the retail REIT’s stable 2Q DPU of 3.04 cents despite the lack of contributions over the quarter from Northpoint, which is currently undergoing an asset enhancement initiative (AEI).

Frasers Centrepoint Trust reports flat 2Q DPU of 3.04 cents

SINGAPORE (April 25): The manager of Frasers Centrepoint Trust (FCT) has declared a 2Q17 distribution per unit (DPU) of 3.04 cents, unchanged from a year ago.

Gross revenue for the quarter declined 2.9% on-year to $45.7 million $47.1 million in the previous year due to lower contributions from Northpoint mall, which is presently undergoing asset enhancement initiative (AEI) works.

The absence of contributions from Northpoint was mitigated in part by higher contributions from other properties in the portfolio, namely Causeway Point and Changi City Point.

Fraser Centrepoint Trust reports 0.7% rise in 1Q DPU to 2.89 cents

SINGAPORE (Jan 20): The manager of Fraser Centrepoint Trust has reported DPU for 1Q17 rose 0.7% to 2.89 cents from 2.87 cents a year ago.

Gross revenue for the Oct-Dec period was $44.1 million, down 6.4% y-o-y, due mainly to lower contribution from Northpoint which is undergoing asset enhancement initiative (AEI) works.

Causeway Point’s revenue rose 3.4% and accounted for about 48% of the total revenue.

Net property income declined 5.7% year-on-year to $31.6 million, in line with the lower revenue achieved.

What will hold this retail REIT steady amid a dismal outlook?

SINGAPORE (Jan 5): RHB is maintaining its “buy” call on Frasers Centrepoint Trust (FCT) with a target price of $2.22 despite foreseeing a challenging retail outlook for 2017, as the research house is confident in the REIT’s management as well as suburban mall portfolio.

Frasers Centrepoint Trust still on point despite 4Q DPU drop

SINGAPORE (Oct 24): CIMB is keeping its “add” rating on Frasers Centrepoint Trust with a higher target price of $2.28, from $2.25 previously, despite a 1.5% dip in FCT’s 4Q distribution per unit (DPU).

Gross revenue for 4Q16 was $44.6 million, down 6% compared to the same period last year.

Northpoint and Changi City Point contributed lower revenues due to asset enhancement initiative (AEI) works at Northpoint and vacancy due to changeover in an anchor tenant at Changi City Point.

Frasers Centrepoint Trust declares DPU of 2.815 cents for 4Q, down 1.5%

SINGAPORE (Oct 21): The manager of Frasers Centrepoint Trust (FCT) has declared a distribution per unit (DPU) of 2.815 cents for the 4Q16 ended Sept, 1.5% lower than a year ago.

This brings the total DPU for FY2016 to 11.764 cents, which is 1.3% higher than the previous year.

Gross revenue for 4Q16 was $44.6 million, which is 6% lower compared with the year-ago period. Revenue contribution from the Causeway Point, FCT’s largest mall, was up 3.2% in 4Q16.

3 reasons why Frasers Centrepoint Trust should be on your ‘buy’ list

SINGAPORE (July 19): DBS has maintained its “buy” call for Frasers Centrepoint Trust (FCT), with a target price of $2.29. This comes as the REIT recently declared a DPU of 3.04 cents on the back of its 3QFY16 results.

(See Frasers Centrepoint Trust posts steady 3Q DPU of 3.04 cents)

Here are three reasons why DBS is optimistic on the REIT:

1. Ability to maintain stable DPUs

Frasers Centrepoint Trust posts steady 3Q DPU of 3.04 cents

SINGAPORE (July 15): Frasers Centrepoint Trust (FCT) is declaring a distribution per unit (DPU) of 3.04 cents for the 3Q16 ended June, up 0.1% from the same quarter a year ago.

This brings the total DPU for the 9 months ended June to 8.949 cents, which is 2.3% higher than the same period a year ago.

Gross revenue for 3Q was $45 million, which was 4.4% lower compared with the year ago period. Property expenses for the quarter was 2.6% lower at $13.9 million.

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