Wong and Tan remain “firmly positive” on FCT as the REIT’s 1HFY2024 DPU stood ahead of their estimates and with its forward yields of 5.4% - 5.6% “on offer”. They add that the REIT continues to “pull the right levers” after its recent acquisition of Nex, which positioned it as the “King of suburban retail malls”.
DBS Group Research’s Geraldine Wong and Derek Tan and Maybank Securities’ Krishna Guha have maintained their “buy” calls on Frasers Centrepoint Trust (SGX:J69U
) (FCT) with an unchanged target price of $2.70 and $2.40 respectively after FCT’s results for the 1HFY2024 ended March 31.
On April 25, FCT reported a distribution per unit (DPU) of 6.022 cents for the six-month period, 1.8% lower y-o-y.
