Agent.sg / Property news / Frasers Centrepoint Trust poised for re-rating as it enters next phase of growth

Frasers Centrepoint Trust poised for re-rating as it enters next phase of growth

Units in Frasers Centrepoint Trust (FCT) have already surged more than 26% so far this year. But market watchers remain bullish on the retail REIT as it stands on the cusp of a re-rating.

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For the latest 3Q19 ended June, FCT saw its income available for distribution rise 12.4% to $31.8 million, even as net property income dipped 1.1% to $34.6 million on the back of higher property expenses.

Frasers Centrepoint Trust poised for re-rating as it enters next phase of growth

The higher expense arose from the absence of property tax refund which occurred in the same period a year ago.

FCT’s bottomline during the quarter was boosted by an $8.3 million fair value gain on the acquisition of an associate, as well as a $5.5 million increase in share of associates’ results from operations.

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