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Frasers Logistics & Commercial Trust (SG:BUOU)
:BUOU
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Frasers Logistics & Commercial Trust (BUOU) AI Stock Analysis

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SG:BUOU

Frasers Logistics & Commercial Trust

(OTC:BUOU)

Rating:70Outperform
Price Target:
S$1.00
▲(14.94%Upside)
The overall stock score reflects a strong financial recovery and robust cash flow generation as key strengths. While the technical analysis suggests neutral momentum, the high dividend yield offsets concerns about a relatively high P/E ratio, making the stock appealing for income investors.
Positive Factors
Asset Management
The divestment of 357 Collins Street in Melbourne was completed at a premium to its latest valuations, showcasing effective asset management.
Financial Performance
Frasers Logistics & Commercial Trust reported a 7.5% increase in revenue, thanks to contributions from new property acquisitions.
Growth Potential
The REIT holds a substantial right of first refusal (ROFR) pipeline from its sponsor worth over S$5.0 billion, offering considerable growth potential.
Negative Factors
Cost of Debt
FLT cautioned that the cost of debt would continue to rise as loans are refinanced and interest rate swaps are rolled over at higher interest rates.
Currency Risk
There is exposure to currency risk due to the REIT's distributions being paid in SGD while operating in multiple foreign currencies, though measures are taken to hedge against this.
Occupancy Challenges
Occupancy for Alexandra Technopark slipped 7ppt qoq to 77.1% in 2QFY25 due to the lease expiry for Google’s tranche two space.

Frasers Logistics & Commercial Trust (BUOU) vs. iShares MSCI Singapore ETF (EWS)

Frasers Logistics & Commercial Trust Business Overview & Revenue Model

Company DescriptionFrasers Logistics & Commercial Trust (FLCT) is a Singapore-listed real estate investment trust with a portfolio comprising 100 industrial and commercial properties, worth approximately S$6.2 billion, diversified across five major developed markets – Australia, Germany, Singapore, the United Kingdom and the Netherlands. FLCT was listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX-ST) on 20 June 2016 as Frasers Logistics & Industrial Trust and was subsequently renamed Frasers Logistics & Commercial Trust on 29 April 2020 following the completion of a merger with Frasers Commercial Trust. FLCT's investment strategy is to invest globally in a diversified portfolio of income-producing properties used predominantly for logistics or industrial purposes located globally, or commercial purposes (comprising primarily CBD office space) or business park purposes (comprising primarily non-CBD office space and/or research and development space) located in the Asia-Pacific region or in Europe (including the United Kingdom). FLCT is sponsored by Frasers Property Limited.
How the Company Makes MoneyFrasers Logistics & Commercial Trust makes money primarily through the rental income it earns from its portfolio of logistics and commercial properties. The trust leases these properties to a diverse range of tenants, including logistics providers, manufacturers, and commercial businesses, generating steady cash flows. Additionally, the trust may engage in property development and asset enhancement initiatives to increase the value and rental potential of its properties. Strategic partnerships with local and international entities can also contribute to its earnings by facilitating access to new markets and investment opportunities. The trust aims to optimize its portfolio through active asset management, including periodic reviews of its property holdings to ensure high occupancy rates and competitive rental rates, thus maximizing its revenue potential.

Frasers Logistics & Commercial Trust Financial Statement Overview

Summary
Frasers Logistics & Commercial Trust has shown impressive recovery and growth, with a strong rebound in revenue and net income, leading to improved margins and profitability. The balance sheet is stable, though leverage is moderate. Cash flow generation is robust, which supports financial health and operational efficiency.
Income Statement
75
Positive
Frasers Logistics & Commercial Trust has demonstrated solid revenue growth over the past year, with a notable increase from 2023 to 2024. The gross profit margin remains robust at approximately 74.5% for 2024. However, the company experienced a negative EBIT and EBITDA in 2023, which has since recovered significantly in 2024. Net profit margin has improved to 29.9% after a negative result in 2023, indicating a strong turnaround.
Balance Sheet
68
Positive
The balance sheet shows a healthy equity ratio of 59.8% in 2024, indicating a strong asset base relative to liabilities. However, the debt-to-equity ratio stands at 56.5%, reflecting moderate leverage. The return on equity has improved from negative in 2023 to 3.5% in 2024, signaling a positive trend in profitability.
Cash Flow
80
Positive
The company has shown impressive growth in free cash flow, with a significant increase of 58.3% from 2023 to 2024. The operating cash flow to net income ratio is strong at 2.11, indicating efficient cash generation relative to net income. The free cash flow to net income ratio is also favorable at 1.51, highlighting effective cash utilization.
BreakdownSep 2024Sep 2023Sep 2022Sep 2021Sep 2020
Income Statement
Total Revenue446.67M420.78M450.19M469.33M332.03M
Gross Profit321.13M314.13M347.92M365.82M269.18M
EBITDA281.62M-24.95M902.74M922.08M567.62M
Net Income147.53M-103.03M728.64M731.11M454.72M
Balance Sheet
Total Assets7.14B6.94B7.41B7.68B6.73B
Cash, Cash Equivalents and Short-Term Investments133.57M152.74M220.73M140.37M168.65M
Total Debt2.41B2.16B2.10B2.68B2.62B
Total Liabilities2.81B2.51B2.52B3.06B2.93B
Stockholders Equity4.27B4.38B4.84B4.57B3.77B
Cash Flow
Free Cash Flow223.16M140.99M141.51M231.37M182.11M
Operating Cash Flow311.37M302.25M269.13M260.26M182.16M
Investing Cash Flow-263.66M-128.31M523.51M-325.41M-453.50M
Financing Cash Flow-4.69M-243.09M-699.17M36.81M323.22M

Frasers Logistics & Commercial Trust Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.87
Price Trends
50DMA
0.83
Positive
100DMA
0.84
Positive
200DMA
0.87
Positive
Market Momentum
MACD
0.01
Negative
RSI
58.65
Neutral
STOCH
72.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:BUOU, the sentiment is Positive. The current price of 0.87 is above the 20-day moving average (MA) of 0.86, above the 50-day MA of 0.83, and above the 200-day MA of 0.87, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 58.65 is Neutral, neither overbought nor oversold. The STOCH value of 72.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:BUOU.

Frasers Logistics & Commercial Trust Peers Comparison

Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
70
Outperform
S$3.28B24.373.21%10.49%11.98%
67
Neutral
S$1.12B34.003.17%7.01%5.21%-25.46%
64
Neutral
$6.88B15.40-1.98%6.96%4.49%-24.05%
$1.62B-6.38%4.27%
$4.71B32.642.72%7.04%
$4.58B17.896.85%4.38%
74
Outperform
S$402.18M11.816.78%7.39%-7.68%-20.20%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SG:BUOU
Frasers Logistics & Commercial Trust
0.87
-0.05
-5.64%
SG:O5RU
AIMS APAC REIT
1.37
0.17
14.17%
CGIUF
ESR-REIT
1.82
-0.10
-5.21%
MAPGF
Mapletree Logistics
0.89
-0.05
-5.32%
MAPIF
Mapletree Industrial
1.58
-0.06
-3.66%
SG:DHLU
Daiwa House Logistics Trust
0.58
0.06
11.54%

Frasers Logistics & Commercial Trust Corporate Events

Frasers Logistics & Commercial Trust Issues New Units for Divestment Fees
May 21, 2025

Frasers Logistics & Commercial Trust has issued 386,833 new units to its manager as payment for divestment fees related to the sale of minority interests in properties located in Germany. The divestment, completed in November 2024, involved transactions with Frasers Property Investments (Europe) B.V., FPI Netherlands B.V., and Stichting Coeval. These transactions are considered ‘interested party transactions,’ and the units issued as payment will not be sold for at least one year. This issuance increases the total number of units in FLCT to over 3.7 billion, with the manager holding a 0.51% stake.

The most recent analyst rating on (SG:BUOU) stock is a Buy with a S$1.11 price target. To see the full list of analyst forecasts on Frasers Logistics & Commercial Trust stock, see the SG:BUOU Stock Forecast page.

Frasers Logistics & Commercial Trust Issues New Units for Management Fees
May 15, 2025

Frasers Logistics & Commercial Trust announced the issuance of 7,356,212 new units to pay management fees for the first quarter of 2025. This strategic move reflects the company’s ongoing commitment to efficient financial management and may influence its market positioning by optimizing its asset management operations.

The most recent analyst rating on (SG:BUOU) stock is a Hold with a S$1.10 price target. To see the full list of analyst forecasts on Frasers Logistics & Commercial Trust stock, see the SG:BUOU Stock Forecast page.

Frasers Logistics & Commercial Trust Announces Board and Committee Changes
May 9, 2025

Frasers Logistics & Commercial Trust announced changes in its Board of Directors and committees, effective from May 25, 2025. Mr. Goh Yong Chian will retire as a Non-Executive and Independent Director, and Ms. Soh Onn Cheng Margaret Jane will replace him in the Audit, Risk, and Compliance Committee. These changes aim to maintain the independence and effectiveness of the board and its committees.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 11, 2025