Commercial Office REIT rises from the ashes under the hands of Frasers.
I updated my
Dividend Stock Tracker by furnish Frasers Commercial Trust information. The profile of this office REIT have changed totally from the days when it was managed under Allco REIT.
This and the decisions undertaken by Frasers Centerpoint Trust have indicated that perhaps sponsors can really work their magic.
For an office REIT
- Market Yield of 6.8%
- Debt to Asset of 36%
- EV/EBITDA of 12 times
- PTB of 0.5
Against K-REIT Asia and CapitaCommercial Trust it is starting to look on par.
The transformation is not over yet, and this is where we see a manager work its magic rather than just buy something from its sponsor.
Sale of Keypoint
Fraser decide to sell off KeyPoint a local office asset that makes up 10% of its net property income (NPI). The net selling price was ......
