Broker Name: DBS Group Research
Date of Report: 24 April 2026
Excerpt from DBS Group Research report.
Report Summary
- Stock: Frasers Centrepoint Trust (FCT SP)
- Rating: BUY
- Target Price: SGD 2.75
- Action: Maintain BUY
- Key Highlight: FCT’s 1H26 results show resilience in suburban retail. Net property income rose 20.2% year-on-year to SGD160.8m, driven by the consolidation of Northpoint City South Wing and strong portfolio performance. DPU increased 1.4% to 6.136 cents, with strong portfolio rental reversions (+6.5%) and occupancy at 99.8%.
- Ideas of the Day: Capital recycling from potential divestment of White Sands may be redeployed into asset enhancement initiatives (AEIs) in core assets, viewed as the most value-accretive path.
- Implication for Investors: FCT’s stable operations, high occupancy, and strong rental reversions underscore its defensive positioning. The stock offers a forward dividend yield of 5.3% and a target price upside to SGD2.75.
above is an excerpt from a report by DBS Group Research. Clients of DBS Group Research can be the first to access the full report from the DBS website : https://www.dbs.com
