Singapore Stock Market News

Frasers Commercial Trust - Becoming stronger

StockFanatic
Publish date: Thu, 24 Oct 2013, 12:55 PM
StockFanatic
0 10,453
Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.
FCOT announced stellar FY9/13 results with DPU growth of 19%. As some of its leases are at below-market rates and the outlook for the office market is positive, we believe that FCOT will continue to grow organically.

4Q results are in line, with 4Q DPU at 26% of our full-year forecast and FY13 DPU at 99% of our forecast. We trim our FY14 DPU by 3% to reflect slightly slower growth while nudging FY15 up by 1%. We maintain our Outperform rating and DDM-based (discount rate: 8.4%) target price of S$1.45. The expected catalysts are organic positive rental reversion and full-year cost savings resulting from the redemption of CPPUs.
Read more »
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment