Frasers Centrepoint Trust
J69U.SI : Singapore Exchange
2.200
+0.92%
Share Price in SGD. As of 26 Jul 17:06:29 SGT
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Key stats
- 52-Week HighSGD 2.330
- 52-Week LowSGD 2.010
- Market CapSGD 4B
- Avg Volume2M
- P/E Ratio (TTM)20.00
- Forward Dividend Yield5.4%
Share Price Performance
| J69U.SI | Market
| |
|---|---|---|
| 1 Day | 0.46% | 0.24% |
| 5 Day | 0.00% | -0.31% |
| 1 Month | 2.33% | 2.84% |
| 6 Month | -0.90% | 8.45% |
| YTD | -2.22% | 6.08% |
| 1 Year | 0.46% | 6.50% |
| 5 Year | -19.18% | 9.82% |
Beansprout Analysis
Beansprout's Checklist
-
Occupancy Rate of 99.9% is higher than sector average of 95.2%
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Net property income yield of 4.17% is lower than its dividend yield of 5.4%
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Gearing Ratio of 0.39x is higher than sector average of 0.37x
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Interest Coverage Ratio of 3.3x is above 2.5x
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Net Book Value of $2.32 is lower than its net book value of $2.33 in the previous year
-
Dividend Yield of 5.4% is lower than sector average of 8.5%
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Distribution per unit growth is -0.63%
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Price to Book of 0.97x is higher than sector average of 0.71x
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Revenue Breakdown by Asset
Revenue Breakdown by Geography
Market Analysis
Consensus Share Price Target
Price Target: $2.443
Source: SGX as of 26 Jul 2024
Analyst Ratings
CGS-CIMB
23 Jan 2024
Add
2.520
DBS Research
30 May 2024
Buy
2.700
Maybank Research
06 Jun 2024
Buy
2.400
OCBC Investment
26 Apr 2024
Buy
2.410
(prev 2.460)
Phillip Securities
26 Apr 2024
Add
2.380
RHB Invest
25 Apr 2024
Neutral
2.350
(prev 2.300)
UOB Kay Hian
21 May 2024
Buy
2.710
Analyst Reports
Valuation
Price to book (P/B) ratio
1
0.9
Frasers Centrepoint Trust's current P/B ratio of 1x is higher than its historical average P/B ratio of 0.9x.
Earnings
Earnings Highlights
1H24 Results Summary
Revenue: SGD 172.21M
Decreased 7% Year-on-Year
The declines were due to lower contributions from Changi City Point which was divested in October 2023 and from Tampines 1 due to the ongoing AEI works.
Net Property Income (NPI): SGD 124.61M
Decreased 8% Year-on-Year
The declines were due to lower contributions from Changi City Point which was divested in October 2023 and from Tampines 1 due to the ongoing AEI works.
Portfolio Occupancy: 99.9%
Increased 1% Year-on-Year
The retail portfolio registered committed occupancy of 99.9%, up 0.7%-points y-o-y and steady quarter-on-quarter.
Rental Reversion: 7.5%
Increased 3% Year-on-Year
The retail portfolio achieved 7.5% rental reversion for 1H24 on the back of healthy leasing traction, which is higher than the 4.3% achieved for 1H23.
Distribution Per Unit (DPU): SGD 0.06
Decreased 2% Year-on-Year
Leverage/Gearing: 39%
FCT's financial position is stable with aggregate leverage at 38.5% as at 31 March 2024, a slight increase from 37.2% a quarter ago.
Outlook
The Manager expects interest rate movements and rising operating expenses to remain the key factors affecting FCT's performance. Barring unforeseen circumstances, the Manager expects the average cost of borrowing for FCT to be around the low-4% level for FY24. The Manager will continue to work on various initiatives to drive the optimisation of operating costs and adopt appropriate hedging strategies for energy contracts to mitigate the impact to its utilities expenses.
Sources: Frasers Centrepoint Trust Financial Report
Earnings per share (EPS)
The latest earnings per share is $0.12, which is inline with the earnings per share of $0.12 in 2022.
Financials
Financial Statements
| 25 Apr 2024 | Second Quarter and/ or Half Yearly Results For period ending 31 Mar 2024 |
| 25 Oct 2023 | For period ending 30 Sep 2023 |
Annual Reports
| 22 Dec 2023 | For period ending 30 Sep 2023 |