(See also: Frasers Commercial Trust posts 2.4% rise in 2Q DPU to 2.51 cents)
SINGAPORE (April 24): OCBC Investment Research is reiterating its “buy” call on Frasers Commercial Trust (FCOT) with an unchanged fair value estimate of $1.39 after the trust’s 2Q17 results met expectations, with DPU up 2.4% on-year at 2.51 cents.
To recap, FCOT’s net property income (NPI) growth for the quarter was largely driven by higher contribution from 357 Collins Street due to higher occupancy and rental rates achieved, appreciation of AUD relative to SGD, and a one-off payment received in relation to a termination of lease in Central Park.
