In a Thursday report, lead analyst Derek Tan notes how FCT enjoys a near-monopoly of shopping malls in the north, with Northpoint and Causeway Point together contributing about 70% of its net property income (NPI).
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).
(See also: Frasers Centrepoint Trust reports flat 2Q DPU of 3.04 cents)
