$FRASERS LOGISTICS & IND TRUST(BUOU.SI)$
I like Reit investment. Today would like to share another of my favourite Reit, Fraser Logistic and Ind Trust.
In today's price at $1.44, this reit pay out a decent 5.2% dividend.
FLCT currently manages more than 100 properties across Australia, Singapore, Germany, the UK, and the Netherlands. The appraised value of FLCT’s portfolio about ~$6.5b.
With a gearing of less than 30%, FLCT has the lowest gearing amongst its peers and a debt headroom S$1.3bn before gearing reaches 40%. Following its divestment, FLCT also has a large cash balance of c.S$300m that it can immediately deploy to fund an acquisition and drive further accretion to earnings.
Since its merger with FCOT, the REIT has acquired more than S$600m worth of assets from its sponsor. Despite this, FLCT still has the largest ROFR pipeline, valued at more than ~S$5.0bn, which could double its portfolio, providing a visibility like no other. Its current low gearing also provides it with ample debt headroom to fund acquisitions
Pesonally I remain positive on FLCT given its strong set of results for FY22 and the resilience of its portfolio to pandemic. The portfolio remains very stable with its occupancy and built-in annual rental escalations in its leases will drive further growth to earnings.
Since 2021, FLCT was included into STI index component stock.
I continue to stay vested and have regular DCA through Syfe Reit and also STI ETF.
Thank you for reading and happy investing
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