Stocks-Investment

SINGAPORE (Nov 6): OCBC Stock Investment Research is keeping its “purchase” approach Frasers Logistics and Industrial Trust (FLT) and raising its reasonable esteem gauge to $1.25, from $1.22 already.

FLT “stays as one of our best picks,” says OCBC lead examiner Andy Wong Teck Ching in a give an account of Nov 3.

This comes after FLT posted a 4Q conveyance for each unit (DPU) of 1.77 pennies, beating its IPO estimate by 8.6%. This brings FY17 DPU to 8.85 pennies, 6.1% higher than gauge.

Net income and balanced net property salary of A$42.2 million ($44.1 million) and A$32.3 million were 4.8% and 4.7% y-o-y higher than its IPO estimate, separately.

“This was to a great extent driven by inorganic development as administration had effectively sought after acquisitions since its posting,” says Wong.

The examiner noticed that FLT kept up a high portfolio inhabitance of 99.4% with a long WALE of 6.75 years.

The examiner noticed that FLT kept up a high portfolio inhabitance of 99.4% with a long WALE of 6.75 years.

“Albeit normal rental inversion was – 15.9% out of 4QFY17 and – 8.2% for the year time frame in FY17, we trust it was to a great extent owing to rents returning to advertise levels upon rent expiry as inherent yearly rental accelerations for FLT’s leases ordinarily outpace showcase rental development,” says Wong.

Considering in FLT’s entire year comes about, OCBC is raising its FY18 and FY19 DPU figures by 2.3% and 2.6%, separately, on the back of a higher AUD-SGD presumption.

As at 3.54pm, units of FLT are exchanging 1 penny higher at $1.14, inferring an expected dispersion yield of 6.5% for FY18.

Singapore Hot stocks

JIUTIAN CHEMICAL
COSCO SHIP SG
ALLIED TECH
CHINA STAR FOOD
ASIAPHOS

Leave a comment

Your email address will not be published. Required fields are marked *


Get Connected
Follow Us

Get connected with us on social networks!


Quick Enquiry