FLT is the first Singapore REIT (S-REIT) with an initial pure-play Australian industrial portfolio as well as the fourth largest industrial owner in Australia.
SINGAPORE (April 24): CIMB Investment Research is initiating coverage on Frasers Logistics & Industrial Trust (FLT) at “add” with a $1.10 target price, naming the trust as one of its sector preferred picks in place of CDL Hospitality Trusts (CD REIT) after the latter’s YTD 10% outperformance.
In a report last Friday, analysts Yeo Zhi Bin and Lock Mun Yee say the price target translates to total returns of 18% – one of the “meatiest” in the research house’s coverage, in their view.
