He also highlights that FLT recycled the capital by purchasing two properties at Burilda Close in New South Wales and Wayne Goss Drive in Queensland, each with a respective net property income (NPI) yield of 6.1% and 6.8%, for an aggregate of A$62.6 million.
SINGAPORE (Sept 11): OCBC Investment Research is maintaining its “buy” call on Frasers Logistics & Industrial Trust (FLT) with a higher fair value of $1.19 compared to $1.18 previously, after incorporating the trust’s recent capital recycling transactions into its valuation model.
In a report last Friday, analyst Andy Wong notes that FLT’s recently-completed property divestments at Coghlan Road and Hartley Street in Australia came in at attractive premiums of 36.7% and 40.3% above book values as at end-June and end-March, respectively.
