0547 GMT - Frasers Centrepoint Trust's distribution-per-unit growth could accelerate to a 4% compound annual growth rate over FY 2026-FY 2028 from an essentially flat decadelong trend, says Jefferies' Wilson Ng in a note, citing falling borrowing costs and new income contributions. Its dividend profile is stable and appears inflation-proof, thanks to its Singapore suburban retail mall exposure that anchors it to nondiscretionary spending. Its incremental acquisitions and asset-enhancement projects will likely be DPU-accretive and add to the DPU growth outlook for the real-estate investment trust, he adds. He expects upward revisions to street earnings estimates to drive higher valuations. Jefferies starts coverage of Frasers Centrepoint with a buy rating and S$2.55 target price. Units are flat at S$2.26. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
June 04, 2026 01:47 ET (05:47 GMT)
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