Frasers Logistics & Commercial Trust

BUOU.SI : Singapore Exchange

1.000

0.00%

Share Price in SGD. As of 17 Jul 17:04:45 SGT

All

Chart

Key stats

  • 52-Week High
    SGD 1.300
  • 52-Week Low
    SGD 0.920
  • Market Cap
    SGD 3.8B
  • Avg Volume
    12M
  • P/E Ratio (TTM)
    -
  • Forward Dividend Yield
    7.0%

Share Price Performance

BUOU.SI
Market
1 Day -0.99% 0.01%
5 Day 3.63% 0.42%
1 Month 4.71% 4.37%
6 Month -11.50% 11.05%
YTD -12.28% 8.04%
1 Year -6.54% 8.46%
5 Year -19.35% 11.85%
Include dividend return
Beansprout Analysis

Beansprout's Checklist

Fundamental
  • Occupancy Rate of 94.3% is lower than sector average of 95.2%

  • Net property income yield of 4.63% is lower than its dividend yield of 7%

Financial
  • Gearing Ratio of 0.33x is lower than sector average of 0.38x

  • Interest Coverage Ratio of 5.9x is above 2.5x

  • Net Book Value of $1.17 is lower than its net book value of $1.30 in the previous year

Valuation
  • Dividend Yield of 7% is higher than sector average of 5.9%

  • Distribution per unit growth is -7.61%

  • Price to Book of 0.86x is lower than sector average of 1.08x

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Revenue Breakdown by Asset

Revenue Breakdown by Geography

Market Analysis

Consensus Share Price Target

Price Target: $1.264

Sell
Underperform
Neutral
Outperform
Buy

Source: SGX as of 17 Jul 2024

Analyst Ratings

  • CGS-CIMB

    15 Mar 2024

    Add

    1.270

  • DBS Research

    30 May 2024

    Buy

    1.440

  • OCBC Investment

    20 May 2024

    Buy

    1.350

    (prev 1.270)

  • UOB Kay Hian

    21 May 2024

    Buy

    1.550

Valuation

Price to book (P/B) ratio

Current P/B
0.9
Historical Average P/B
0.9

Frasers Logistics & Commercial Trust's current P/B ratio of 0.9x is inline with its historical average P/B ratio of 0.9x.

Earnings

Earnings Highlights

1H 2024

  • Revenue: SGD 216.03M

    Increased 4% Year-on-Year

  • Net Property Income (NPI): SGD 158.83M

    Increased 1% Year-on-Year

  • Net Profit: SGD 94M

    Decreased 21% Year-on-Year

    The total return for the period for 1H2024 of S$94.8 million was S$24.5 million (or 20.5%) lower than 1H2023. Besides the movements in Adjusted NPI, finance cost, tax expense as noted above, the decline was also attributable to an absence of gain on divestment of investment properties in 1H2024 versus S$17.4 million in 1H2023. The decline was in part offset by the net change in fair value of investment properties of S$6.7 million recorded in 1H2024. This relates to an accounting adjustment on investment properties from the acquisition of four logistics properties in Germany on 27 March 2024.

  • Portfolio Occupancy: 94.3%

  • Return on Equity (ROE): 4%

    Decreased 20% Year-on-Year

  • Distribution Per Unit (DPU): SGD 0.03

    Decreased 1% Year-on-Year

  • Leverage/Gearing: 55%

    Increased 13% Year-on-Year

Earnings per share (EPS)

The latest earnings per share is -$0.03, which is lower than the earnings per share of $0.20 in 2022.

Financials

Financial Statements

07 May 2024

Half Yearly Results

For period ending 31 Mar 2024

02 Nov 2023

Full Yearly Results

For period ending 30 Sep 2023

Annual Reports

22 Dec 2023

Annual Report

For period ending 30 Sep 2023

News
Profile

Company Description

Frasers Logistics & Commercial Trust ("FLCT") is a Singapore real estate investment trust established with the investment strategy of principally investing, directly or indirectly, in a diversified portfolio of income-producing real estate assets which are predominantly used for logistics, industrial or commercial purposes, whether wholly or partially, as well as such industrial real estate-related assets in connection with the foregoing, across five major developed markets – Australia, Germany, Singapore, the United Kingdom and the Netherlands. Frasers Logistics & Commercial Asset Management Pte. Ltd. is the manager of Frasers Logistics & Commercial Trust. FLCT was listed on the Mainboard of Singapore Exchange Securities Trading Limited on 20 June 2016 as Frasers Logistics & Industrial Trust and was subsequently renamed Frasers Logistics & Commercial Trust on 29 April 2020 following the completion of a merger with Frasers Commercial Trust.

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