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Nice summary. Relate to your position. I have been buying from 1.3x, dollar averaging to 1.1x and now waiting to accumulate more at trigger below 1.08. At end of the day, it is down to valuation versus sentiments. If one is a trader then sentiments are important. In term of longer term investing, my humble view is FLCT is oversold, good portfolio (not withstanding current FX impact) and their debt level is extremely manageable. My Temasek linked Reits (Mapletree and Capland counters) are all hit hard too and I have also been dollar averaging on these too. I look forward to see how my portfolio returns turn out in 2 to 3 years time.
Remarks : Just sharing. Not investment advice. Pls DYODD before any action on equity market.
Remarks : Just sharing. Not investment advice. Pls DYODD before any action on equity market.
PhillipTan ( Date: 03-Nov-2022 22:56) Posted:
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FLCT is not Temasek backed, my guess is people usually sell those non TH backed assets first in a bear market
Futhermore, GBP, EUR and AUD has been steadily weakening again SGD
FLCT has 4 assets in UK, 35 assets in Europe, 65 assets in Australia but only 1 asset in Singapore
These weakening currencies will translate into reduced NAV as well as reduced profit when converted back to SGD
Maybe that can help explain why FLCT has been dropping like crazy recently
However, my feeling is that it is oversold, I could be wrong
I have been buying while it is dropping, highest I got was $1.46, last purchase was at $1.09
I am still buying, but it hurts a lot everytime it drops though
Futhermore, GBP, EUR and AUD has been steadily weakening again SGD
FLCT has 4 assets in UK, 35 assets in Europe, 65 assets in Australia but only 1 asset in Singapore
These weakening currencies will translate into reduced NAV as well as reduced profit when converted back to SGD
Maybe that can help explain why FLCT has been dropping like crazy recently
However, my feeling is that it is oversold, I could be wrong
I have been buying while it is dropping, highest I got was $1.46, last purchase was at $1.09
I am still buying, but it hurts a lot everytime it drops though
prophetjul ( Date: 19-Oct-2022 11:04) Posted:
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$1.05 is the base
Result out next week or before Christmas Santa present 🎁
Good accumulate for long-term investment
Wondering why FLCT has fallen from $1.40 in a matter of months? Not withstanding the recent correction.
FLCT sees over 173,000 sq m of leasing in Q3 expects operating conditions to improve
FRASERS Logistics & Commercial Trust : BUOU +0.7% (FLCT) recorded 173,087 square metres (sq m) of leasing across its portfolio in Q3 ended June, the real estate investment trust&rsquo s (Reit) manager said in a Friday (Aug 5) business update.
Amid this &ldquo healthy leasing momentum&rdquo , FLCT maintained 100 per cent occupancy for its logistics and industrial (L& I) portfolio, with no expiries in Q4, it added. The commercial portfolio recorded a 91.3 per cent occupancy rate, with 0.9 per cent of income expiring in Q4. Overall occupancy came in at 96.5 per cent.
Aggregate leverage stood at 29.2 per cent as at end-June, down 3.9 percentage points from end-March, with cost of borrowings at 1.6 per cent. It has an average weighted debt maturity of 3 years, with refinancing of S$10 million in Q4.
FLCT acknowledged the challenging operating environment. The weakening of the Australian dollar, euro and British pound against the Singapore dollar has impacted the Reit&rsquo s foreign-sourced income. On the interest rate front, every potential 50 basis-point increase in rates on variable rate borrowings is estimated to impact distribution per unit by 0.05 Singapore cent.
Volatile energy costs and inflationary pressures are further expected to place pressure on recovery and growth sentiment, FLCT said. It is also monitoring the impact of the Russia-Ukraine conflict on Europe operations, which have thus far been largely unaffected.
That said, the Reit also added that the &ldquo overall operating environment is expected to further improve with strong tenant activity observed, as countries continue to adopt an endemic approach to living with Covid-19 with a progressive return towards normalcy&rdquo .
Looking ahead, FLCT has committed S$118.8 million for the acquisition of a suburban office and 3 L& I assets in Australia. Another S$171.7 million is for a forward-funding L& I acquisition in the UK.
Industrial lease etc are all picking up and increased rental.
Reckon should be heading 1.5 as investors looks are safer heaven n higher yields
Reckon should be heading 1.5 as investors looks are safer heaven n higher yields
Post FOMC and it is up, volume increased too. Shall wait to add more once it revisit 1.35 or below.
HVRRVH ( Date: 20-Jul-2022 16:28) Posted:
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Yes since IPO they have proven that they can manage/recycle capital quite shrewdly. My next buy should be below 1.3 if it comes to that.
Goldfinger ( Date: 20-Jul-2022 17:53) Posted:
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I like their move into largely freehold properties. Yield is lower, but freehold means perpetual income streams. So, the REIT will not have a run out date.
Added today at 1.35. Just felt it is not too right not to buy a bit in this current ' fearful' environment. Having said that, only bought half of the intended size. If it goes down, then buy the rest. If it goes up, I have bought a bit.
HVRRVH ( Date: 20-Jun-2022 10:51) Posted:
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Frasers Logistics & Commercial Trust buys freehold logistics development in UK for £ 101m
THE manager of Frasers Logistics & Commercial Trust (FLCT) announced on Saturday (Jun 25) that it has acquired a freehold logistics development in the UK for a total consideration on a completed basis of £ 101 million (S$171.7 million).
The forward funding investment will see FLCT fund the development of the new facility by seller Stoford Properties, a UK developer specialising in industrial, production and logistics facilities.
The maximum consideration, which is in line with an independent valuation conducted by CBRE as at Jun 1, includes the cost of development.
Located within the Hooton Business Park in Cheshire in north-west England, the property will sit on a 14.4 ha site and will have a total lettable area of 667,185 sq ft.
Development of the property is expected to be completed in the second half of 2023.
It will then be leased to Peugeot Motor Company for a lease term of 15 years with 5-yearly, upward-only rent reviews. The property will serve as Peugeot&rsquo s national distribution centre in the UK.
&ldquo The forward funding acquisition presents an excellent opportunity to add a state-of-the-art logistics facility to FLCT&rsquo s growing UK logistics and industrial portfolio,&rdquo said Robert Wallace, chief executive officer of the Reit manager.
&ldquo The property will mark FLCT&rsquo s fourth logistics and industrial investment in the UK and is strategically sited in a well-established logistics and industrial precinct in UK&rsquo s North West, which will enable us to deepen FLCT&rsquo s presence in the attractive UK logistics real estate space, while supporting our objectives of delivering sustainable long-term value to our unitholders,&rdquo he added.
The acquisition will be FLCT&rsquo s sixth property in the UK and will increase the real estate investment trust&rsquo s (Reit) exposure in the UK market to 13 per cent of its total portfolio value, up from 10.7 per cent previously.
The weighting of FLCT&rsquo s portfolio by value towards logistics and industrial assets will grow to 67.1 per cent, from 66.3 per cent.
Weighted average lease expiry will increase to 4.8 years from 4.6 years, with a portfolio occupancy rate of 96.2 per cent.
Including the acquisition fee payable to the Reit manager as well as professional and other fees and expenses, the total cost of the proposed acquisition is estimated to be £ 103.5 million.
The Reit manager said the acquisition will be funded through the proceeds of its divestment of Cross Street Exchange in Singapore and existing debt facilities.
It added that the acquisition is not expected to have any material effect on FLCT&rsquo s net tangible assets.
Vested since 2017 and last added in 2019 and wanted to buy a bit more but missed 1.27, 28, 29... a few days ago! To be frank scare and a bit low on bullets during covid crash to buy you at 62.5 cents (what a ridiculous market!). Not sure it will come back below 1.3 level or not but for th moment I will just queue slightly below 1.3 and see how.
Most Reits share price rise I think because Reits are defensive and are inflation hedge.
john_ric ( Date: 16-Jun-2022 14:07) Posted:
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today f L& C huat ah..
The frasers family shares are all ignored by the BBs. Though they are good profitable companies.
For the reit may be affected by the recent wesk oz dollars.
For the reit may be affected by the recent wesk oz dollars.
A recent commentary from Royston Yang
Here are ____ Singapore stocks that recently hit a 52-week low that you may consider adding to your investment watchlist.
Frasers Logistics & Commercial Trust (SGX: BUOU)
Frasers Logistics & Commercial Trust, or FLCT, is a REIT that owns a portfolio of 101 industrial and commercial properties worth around S$6.7 billion as of 31 March 2022. These properties are spread out across five countries ? Australia, Germany, Singapore, the UK and the Netherlands.
FLCT?s unit price has recently plumbed a 52-week low of S$1.35. For its fiscal 2022 first half (1H2022) ended 31 March 2022, revenue inched up 1.7% year on year to S$235.7 million.
Adjusted net property income (NPI) edged up 3.6% year on year to S$180.1 million. Distribution per unit (DPU) increased 1.3% year on year to S$0.0385, with annualised DPU at S$0.077. The REIT?s units offered a forward distribution yield of around 5.7%.
Aggregate leverage for the REIT stood at 33.1% as of 31 March 2022 but will fall to 29.5% after the repayment of borrowings last month. Hence, FLCT has a debt headroom of around S$3 billion for more yield-accretive acquisitions that will boost DPU.
Disclaimer : There is a disclaimer in the public commentary the analyst owns FLCT. I am also vested. Just sharing. Not enticement for anyone to buy blindly. Pls DYODD before buying.
Here are ____ Singapore stocks that recently hit a 52-week low that you may consider adding to your investment watchlist.
Frasers Logistics & Commercial Trust (SGX: BUOU)
Frasers Logistics & Commercial Trust, or FLCT, is a REIT that owns a portfolio of 101 industrial and commercial properties worth around S$6.7 billion as of 31 March 2022. These properties are spread out across five countries ? Australia, Germany, Singapore, the UK and the Netherlands.
FLCT?s unit price has recently plumbed a 52-week low of S$1.35. For its fiscal 2022 first half (1H2022) ended 31 March 2022, revenue inched up 1.7% year on year to S$235.7 million.
Adjusted net property income (NPI) edged up 3.6% year on year to S$180.1 million. Distribution per unit (DPU) increased 1.3% year on year to S$0.0385, with annualised DPU at S$0.077. The REIT?s units offered a forward distribution yield of around 5.7%.
Aggregate leverage for the REIT stood at 33.1% as of 31 March 2022 but will fall to 29.5% after the repayment of borrowings last month. Hence, FLCT has a debt headroom of around S$3 billion for more yield-accretive acquisitions that will boost DPU.
Disclaimer : There is a disclaimer in the public commentary the analyst owns FLCT. I am also vested. Just sharing. Not enticement for anyone to buy blindly. Pls DYODD before buying.
FLCT to acquire prime suburban office building in Victoria for A$60.25m
Frasers Logistics & Commercial Trust (FLCT) plans to acquire a fully-leased freehold suburban commercial property in Victoria, Australia for A$60.25 million (about S$58.4 million).
In a filing to the Singapore bourse on Thursday, FLCT said that the purchase price took into consideration an independent valuation of A$60.25 million conducted by consultancy CIVAS (VIC) as at April, 30, 2022. The deal is slated for completion on May 20.
Located at Blackburn Road, Mount Waverley, the building sits in the heart of the City of Monash. Completed in November 2016, the five-storey, A Grade suburban office building has a total net lettable area of 7,297 square metres (sq m) comprising two retail tenancies on the ground level and four upper levels of office space. It is fully leased to nine tenants with a weighted average lease expiry (WALE) of about five years, as at March 31, 2022.
FLCT said the total cost of the building will work out to A$65 million, including stamp duty as well as other fees and expenses linked to the deal.
The acquisition will be funded from the divestment proceeds of Cross Street Exchange in Singapore. In January, FLCT announced the divestment of its remaining leasehold interest in the mixed-use commercial property for S$810.8 million.
Robert Wallace, chief executive officer of the REIT&rsquo s manager, said: &ldquo With the property being 100 per cent leased to reputable tenants in diverse industries, the acquisition is expected to further enhance FLCT&rsquo s quality tenant mix and portfolio metrics, while providing unitholders with a stable income stream.&rdquo
The property will be FLCT&rsquo s fourth commercial asset Down Under, boosting its exposure to the Australian market to 51.8 per cent of its total portfolio value, from 51.3 per cent previously. Post acquisition, its portfolio occupancy rate will edge up from 96.1 per cent to 96.2 per cent, with a WALE of 4.6 years.
FLCT highlighted that Melbourne&rsquo s south-eastern office market recorded a positive net absorption of 1,684 sq m in Q1 2022, underpinned by positive relocation activity from large tenants. It said: &ldquo Occupier demand is expected to be positive with recovery post-Covid-19 in the Melbourne south-eastern office market. Thus, the manager is of the view that good quality buildings continue to be the preferred products in this market as flight to quality opportunities arise.&rdquo
Good reit. DPU increased. On the back of rate hike and Wall Stree sell off, there may be opportunities to buy more good reits such as this and those in Mapletree and Capital family. If 2020 crash happen again must act decidesively.
RESS RELEASE
Frasers Logistics & Commercial Trust 1HFY22 DPU UP 1.3% TO 3.85Singapore Cents
1HFY22 Highlights
Maintained high portfolio occupancy rate of 96.1% with a WALE of 4.6 years as at 31 March 2022, with
35,247 sq m of leasing completed for the period from January to March 2022
Healthy aggregate leverage of 33.1% as at 31 March 2022 (29.5% post-repayment of borrowings in
April 2022) and NAV per unit of S$1.32 as at 31 March 2022...
https://links.sgx.com/1.0.0/corporate-announcements/F6Q0EE2BLMM5HP3U/716044_FLCT%20-%20Results%20Press%20Release.pdf
result on 6 May...