The way Natarajan sees it, the management is making the right moves as it is "further crystalising" its strategy of recycling non-core assets to reduce gearing. "This allows FCT to position itself for the right opportunities to increase stakes in newer dominant malls," writes the analyst in a Sept 26 note.
RHB Bank Singapore's Vijay Natarajan has maintained his "neutral" call on Frasers Centrepoint Trust (SGX:J69U
) , but with a slightly raised target price of $2.15 from $2.13.
FCT, as part of its portfolio pruning, cut its stake in Hektar REIT. This divestment follows its recent sale of Changi City Point for $338 million announced on Aug 30.
