Data from Frasers Centrepoint Trust’s latest statement have been updated into the Singapore REITs table.
Frasers Centrepoint Trust (FCT) reported on 21 January that shopper traffic into its properties have stabilised to about 60% - 70% of pre-COVID-19 levels.
Furthermore, tenant sales for December 2020 was down by just 1.3% on a year-on-year basis, although portfolio shopper traffic still lags by 31.5% compared to the same period in 2019.
In line with this, FCT’s gearing has improved slightly to 96.4% from the circa 92% seen in the previous quarter.
However, the REIT’s gearing has increased to 37.7% up from 35.9% in the previous quarter.
Total borrowings have also increased significantly to SGD2.26 billion as at 31 December 2020, from SGD1.26 billion as at 30 September 2020.
The REIT’s full presentation on this can be viewed here.
FCT was last done on the SGX at SGD2.61, which implies a distribution yield of 3.35% according to data compiled on the Singapore REITs table.