One of the rare local retail reit counter I think is gd to put into our watch list or portfolio!
It might be a gd passive income option.
With the recent acquisition of Nex shopping mall i think Npi may rise. Dpu may be maintain due to higher financial cost.
Frasers Centrepoint Trust
Frasers Centrepoint Trust (“FCT”) is a leading developer-sponsored retail real estate investment trust (“REIT”) and the largest suburban retail mall owners in Singapore. FCT’s property portfolio comprises nine retail malls and an office building located in the suburban regions of Singapore, near homes and within minutes to transportation amenities. The retail portfolio has approximately 2.9 million square feet of net lettable area with over 1,800 leases with a strong focus on providing necessity spending, food & beverage and essential services.
FCT is among the top-ten largest Singapore REITs (“S-REITs”) by market capitalisation. It is also an index constituent of several benchmark indices including the FTSE EPRA/NAREIT Global Real Estate Index Series (Global Developed Index), FTSE ST Real Estate Investment Trust Index, MSCI Singapore Small Cap Index and the SGX iEdge S-REIT Leaders Index.
Frasers Centrepoint Trust's portfolio comprises high quality suburban retail malls and an office building, all located in Singapore. The retail malls include Causeway Point, Century Square, Changi City Point, Hougang Mall, NEX (effective 25.50%-interest), Northpoint City North Wing (including Yishun 10 Retail Podium), Tampines 1, Tiong Bahru Plaza, Waterway Point (50.00%-interest) and White Sands. The office building is Central Plaza, which is connected to the retail mall Tiong Bahru Plaza.
FCT's properties are located next to or near the MRT stations and bus interchanges and in populous residential areas. The retail malls enjoy high shopper traffic comprising residents and the commuters. FCT strives to offer pleasant and comfortable shopping experiences for all its shoppers that will encourage them to keep coming to its malls. FCT strives to be a fair and value-adding landlord through competitive lease rates, upkeep and enhancement of its retail and office properties, and be the preferred choice of tenants and stakeholders.
Occupancy rate of 99.2% is considered very good as it means that their rental spaces are fully occupied and generating rental revenue that would likely provide a stable dpu distribution rate.
Gearing of 39.6% is slightly high but is still below 40% and a distance from the Max limitation of 50%.
NAV is about 2.32. Yearly Dividend of about 12.2 cents. Yield is about 5.7% which is quite good!
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