Elevator Pitch
I assign a "Bullish" rating to Singapore-listed suburban retail REIT Frasers Centrepoint Trust (OTCPK:FRZCF) [FCT:SP].
The negative impact of the coronavirus outbreak is partly mitigated by Frasers Centrepoint Trust's proactive leasing strategy and its focus on sub-urban retail mails. More importantly, Frasers Centrepoint Trust's financial position remains strong with a relatively low gearing of 33.3%, despite recent credit rating downgrades. In addition, the REIT's P/B valuation is below historical average, which provides further support for my "Bullish" rating.
This is an update of my initiation article on Frasers Centrepoint Trust published