FLCT says it enjoys healthy leasing momentum and that it has a strong occupancy rate of 96.4% and a weighted average lease expiry of 4.5 years.
FLCT owns 105 properties across five countries valued at $6.7 billion as at Sept 30 2022, giving it a NAV per unit of $1.30, up rose 4.8% from a year ago.
Robert Wallace, CEO of the REIT’s manager, says that higher inflation and tightening monetary policies are expected to persist over the near-term and will pose challenges.
“We are of the view that FLCT is well-positioned to weather uncertainties and capture opportunities, underpinned by the strength of a high-quality property portfolio which is strategically located in developed countries, and a healthy balance sheet with gearing at just 27.4%,” he adds.
See also: Jardine Matheson posts loss of US$468 mil, but underlying net profit stood at US$1.47 bil
FLCT units closed Nov 9 at $1.11 up 1.83% for the day.
