Frasers Commercial Trust (FCOT) is a Singapore-listed REIT that owns office buildings and business parks located in Singapore, Australia, and the UK. After FCOT posted its Q2 2018 results on 20 April, its share price fell from $1.48 to a low of $1.35 on 21 May – a drop of 8.9% over a matter of weeks. In this article, I’ll share the cause of FCOT’s fall in share price and whether it’s still able to deliver sustainable distributions to unitholders in the near future. Here are five things to know about Frasers Commercial Trust before you invest:

1. Four consecutive quarters of falling revenue

FCOT recorded its fourth consecutive drop in quarterly revenues when it posted revenues of S$33.0 million for Q2 2018 — an 18% drop quarter-on-quarter from S$40.2 million in Q2 2017.

Source: Frasers Commercial Trust quarterly reports

Despite the falling revenue, FCOT ......