Brokers' take
Frasers Logistics & Industrial Trust | Add (Upgraded) July 30 close: S$1.20 Target price: S$1.27 CGS-CIMB, July 29
Frasers Logistics & Industrial Trust (FLT) Q3 FY2019 distribution per unit (DPU) of 1.73 cents, which was down 3.9 per cent year-on-year, was in line due to contributions from new acquisitions but partially offset by the weaker Australian dollar (AUD).
The hedged rate for AUD into Singapore dollars (SGD) declined 7 per cent year on year. For the first nine months of FY2019, total DPU of 5.27 cents was slightly above at 80 per cent of our full-year forecast due to similar reasons above.
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