Frasers Centrepoint Trust (FCT)

Units in FCT closed 3 cents lower or 1.2% down, at $2.53, on September 24.

In September, the FTSE S-REIT Index gained 1.8% m-o-m, with the strongest gains observed from the hospitality subsector.

EGMs coming up on Sept 28 and 29 for three REITs, FCT, CMT and CCT to vote on transformational transactions.

The Straits Times Index stayed within a narrow range during the week, ending at at 2,509, down 30 points. The move is small in relation to the market’s absolute level, and on Sept 4, the STI formed a white candle on marginally higher volume, suggesting

CGS-CIMB Research analysts Eing Kar Mei and Lock Mun Yee are positive on Frasers Centrepoint Trust (FCT) following the announcement of its acquiring the remaining 63.1% of PGIM Asia Retail Fund (ARF), on September 3.

As shoppers appear to be flocking back in search of attractive bargains, the performance of real estate investment trusts (REITs) that own suburban malls is likely to improve, according to DBS Group Research.

Renewed confidence on S-REITs as Singapore economy reopens

“We think that the present yield differential gap is too wide to be ignored and puts CMT at a better value at its current trading price as compared to FCT,” DBS analyst Derek Tan and the research team write in a note dated July 7.

On July 1, Frasers Centrepoint Trust (FCT) announced it has exercised its rights of pre-emption under the bye-laws of PGIM Real Estate AsiaRetail Fund (ARF) to acquire another 12.07% stake for $197.2 million.

Here are three stocks to watch this week: FCT, Suntec REIT and Genting SG