“We acknowledge the challenges facing retail [Real Estate Investment Trusts] REITs like FCT in 2020. Investors should however look beyond the current weakness and identify positive trends shaping the future of physical retail malls,” he adds in a May 11 note.
SINGAPORE (May 12): Amid a subdued economic environment and footfall at retail spaces following the circuit breaker measures, KGI analyst Joel Ng has an “outperform” call on Frasers Centrepoint Trust (FCT) at a target price of $2.39 down from his previous $2.51 call.
Ng’s optimism stems from expectations that retail assets in Singapore “should perform better given the different dynamics at play”.
