Considering FHT’s low 34.4% gearing and its sponsors growing assets under management (AUM), the analyst foresees the divestment proceeds being channeled into funding further opportunities in Europe.
SINGAPORE (Feb 1): Maybank Kim Eng is maintaining its “buy” call on Frasers Hospitality Trust (FHT) with an unchanged price target of 80 cents after the REIT’s 1Q19 DPU came in line with estimates at 1.2542 cents, down 4.3% y-o-y.
In a Thursday report, analyst Chua Su Tye says he sees catalysts emerging from a potential portfolio reshuffle, and estimates the likely divestment of Sofitel Wentworth Sydney to reap $110-150 million in gains.
