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Frasers Commercial Trust – A quick comparison
By The Unnecessary Job  •  March 26, 2019

 
Extracted from https://fcot.frasersproperty.com/financial_information.html

Quick Look at ratios

Yield 
6.7% based on last traded share price of 1.43

Gearing

28.4%

Price to book
0.916

How does this compare to similar REITS?

Yield Gearing  P/B Capital Com Trust 4.48 34.9 1.1 K Reit 4.45 36.3 0.9 Mapletree Commercial Trust 5.11 34.8 1.2 OUE Com REIT 8.16 39.3 0.7

Average 5.55 36.325 0.975 FCOT 6.6 28.4 0.92

FCOT has significantly lower gearing than its counterparts after recently disposing of its stake in 55 Market Street.  In any case, the Fed has turned decidedly less hawkish and we might end up seeing no rate hikes for 2019.  

There is now much anticipation as to whether negotiations with Google have yielded any positive outcome which would lead to a significant recovery of the occupancy rates of its Singapore assets.

The significant debt headroom may also provide further upside catalyst, provided the Management can identify and pounce on yield-accretive acquisitions.  Given

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By The Unnecessary Job
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