Core Insights - Albert Anthony is a Croatian-American business author and analyst contributing to Seeking Alpha and other financial platforms, with a focus on Real Estate Investment Trusts (REITs) [1] - He has a background in business information systems and experience at Charles Schwab, which supports his equities research firm [1] - The author is launching a book on REITs in late 2025 and is actively growing his YouTube channel discussing REIT investments [1] Background and Experience - Albert Anthony has over 1,000 followers on Seeking Alpha and has participated in numerous business and innovation conferences [1] - He holds a B.A. in Political Science and is certified in Microsoft Fundamentals and CompTIA Project+ [1] - Currently enrolled in a Business Intelligence & Data Analyst certification program, he aims to enhance the equities research process [1] Business Operations - Albert Anthony & Company is a Texas-registered boutique equities research firm managed remotely [1] - The firm does not engage in personalized financial advisory or manage client funds, focusing instead on general market commentary and research [1] - The author does not write about non-publicly traded companies, small cap stocks, or startups, ensuring a focus on publicly available data [1]

Core Insights - Albert Anthony is a Croatian-American business author and analyst contributing to Seeking Alpha and other financial platforms, with a focus on Real Estate Investment Trusts (REITs) [1] - He has a background in business information systems and experience at Charles Schwab, which supports his analytical capabilities in equities research [1] - Albert Anthony operates a boutique equities research firm, Albert Anthony & Company, managed remotely from Texas, and is also active on YouTube discussing REITs [1] Company Background - Albert Anthony & Company is a Texas-registered business focused on equities research, leveraging a data-driven and process-oriented approach [1] - The firm does not engage in personalized financial advisory or manage client funds, instead providing general market commentary based on publicly available data [1] Educational and Professional Development - Albert Anthony holds a B.A. in Political Science from Drew University and is certified in Microsoft Fundamentals and CompTIA Project+ [1] - He is currently pursuing a Business Intelligence & Data Analyst certification at the Corporate Finance Institute, aiming to enhance the equities research process [1] Media Presence - Albert Anthony has over 1,000 followers on Seeking Alpha and is expanding his presence on YouTube, where he discusses REITs and shares insights from his investment portfolio [1] - He has participated in numerous business and innovation conferences in the EU market, enhancing his visibility and expertise in the field [1]

Core Viewpoint - Mapletree Logistics Trust (MLT) has reported a mixed set of financial results for the 2nd quarter and the first half of FY2025/26, with challenges stemming from currency headwinds and lower contributions from properties in China, while occupancy rates in other regions remain strong [4][26]. Financial Performance - For 2Q FY2025/26, MLT's gross revenue decreased by 3.2% year-on-year to S$177.5 million, primarily due to weaker foreign currencies and absence of revenue from divested properties [5][6]. - Net property income fell by 3.3% to S$153.3 million, leading to a 9.6% decline in distributable income to unitholders, which amounted to S$92.5 million [5][8]. - For the first half of FY2025/26, gross revenue was down 2.8% to S$354.9 million, and net property income decreased by 2.7% to S$306.7 million [9][10]. Portfolio Occupancy - MLT's overall portfolio occupancy improved to 96.1%, with notable increases in Singapore, South Korea, and Malaysia, while properties in China remained above 90% [12][13]. - Rental reversions were positive in most regions, except for China, which recorded a negative rental reversion of -3.0%, although this was an improvement from -7.5% in the previous quarter [14][25]. Debt Profile - MLT maintains a healthy debt profile with an aggregate leverage of 41.1%, interest coverage ratio of 2.9 times, and an average cost of debt reduced to 2.6% [16][18]. - The debt maturity schedule is well-staggered, with only 2% of borrowings due for refinancing in the second half of FY2025/26 [19]. Distribution Payout - The distribution payout to unitholders for 2Q FY2025/26 was 1.815 cents per unit, reflecting a 10.5% decline year-on-year, while the total payout for the first half was 3.627 cents per unit, down 11.4% from the previous year [21][22]. Management Outlook - The CEO highlighted a resilient operational performance despite economic uncertainties, with a focus on rejuvenating the portfolio and seizing new opportunities as they arise [23][24].

Core Insights - Albert Anthony is a Croatian-American business author and analyst contributing to Seeking Alpha and other financial platforms, with a focus on Real Estate Investment Trusts (REITs) [1] - He has a background in business information systems and experience at Charles Schwab, which supports his analytical capabilities in equities research [1] - Albert Anthony operates a boutique equities research firm, Albert Anthony & Company, remotely from Texas, and is also active on YouTube discussing REITs [1] Background and Experience - The author has over 1,000 followers on Seeking Alpha and is launching a book on REITs in late 2025 [1] - He has participated in numerous business and innovation conferences in both the US and Croatia, enhancing his industry knowledge [1] - Albert Anthony holds a B.A. in Political Science and is certified in Microsoft Fundamentals and CompTIA Project+, currently pursuing a Business Intelligence & Data Analyst certification [1] Research Focus - The firm focuses on publicly available data and does not engage with non-publicly traded companies or small-cap stocks [1] - The aim is to streamline the equities research process using business information tools to provide actionable insights [1] - The author emphasizes the importance of due diligence for readers, as all investments carry risk [1]

Core Insights - Albert Anthony is a Croatian-American business author and analyst contributing to Seeking Alpha and other financial platforms, with a focus on Real Estate Investment Trusts (REITs) [1] - He has a background in business information systems and experience at Charles Schwab, which supports his analytical capabilities in equities research [1] - Albert Anthony & Company is a Texas-registered boutique equities research firm managed remotely, emphasizing actionable insights for investors [1] Background and Experience - The author has over 1,000 followers on Seeking Alpha and is launching a book on REITs in late 2025 [1] - He has participated in numerous business and innovation conferences in the EU and hosted a program for Online Live TV Croatia [1] - Albert Anthony holds a B.A. in Political Science and is certified in Microsoft Fundamentals and CompTIA Project+, currently pursuing a Business Intelligence & Data Analyst certification [1] Research Focus - The firm does not cover non-publicly traded companies, small-cap stocks, or startups, ensuring a focus on publicly available data [1] - The author is an active investor in REIT stocks, sharing insights through various media platforms, including a YouTube channel [1]

Group 1 - The company has released its latest top investment picks for November 2025, emphasizing the timeliness of joining to access these opportunities [1] - The company invests significant resources, over $100,000 annually, into researching profitable investment opportunities, particularly in real estate strategies [1] - The approach has garnered over 500 five-star reviews from satisfied members, indicating a positive reception and effectiveness of the investment strategies [2] Group 2 - The company encourages potential members to join now to start maximizing their returns, highlighting the urgency and potential benefits of membership [2]

Core Insights - Albert Anthony is a Croatian-American business author and media contributor with a focus on real estate investment trusts (REITs) [1] - He has a background in IT analysis for Fortune 500 companies and experience in financial services with Charles Schwab [1] - Anthony is launching a book on REITs in 2025 and manages his own equities research firm remotely [1] Background and Experience - Albert Anthony has over 1,000 followers on Seeking Alpha and writes for various financial platforms [1] - He has participated in numerous business and innovation conferences in the EU and has a degree from Drew University [1] - Currently enrolled in the CMSA certification program at the Corporate Finance Institute in Vancouver [1] Media and Digital Presence - Anthony is active in digital media, including a YouTube channel focused on REITs [1] - He has appeared in regional media channels in Croatia and has had extra roles in over five productions [1] - The author does not engage with non-publicly traded companies or small-cap stocks [1]

Core Insights - Albert Anthony is a Croatian-American business author and media contributor with a focus on real estate investment trusts (REITs) [1] - He has a background in IT analysis for Fortune 500 companies and experience in financial services with Charles Schwab [1] - Anthony is launching a book on REITs in 2025 and operates his own equities research firm remotely [1] Background and Experience - The author has over 1,000 followers on Seeking Alpha and writes for various financial platforms [1] - He has participated in numerous business and innovation conferences in the EU and the US [1] - Anthony is pursuing a CMSA certification from the Corporate Finance Institute in Vancouver [1] Media and Digital Presence - He is active in digital media, including a YouTube channel focused on REITs [1] - The author has appeared in regional media channels in Croatia and has had roles in over five productions [1] - Albert Anthony & Company is a sole proprietorship registered in Austin, Texas, focusing on general market commentary and research [1]

Core Insights - Frasers Centrepoint Trust (FCT) has shown strong financial performance for FY2024/25, driven by the acquisition of Northpoint City South Wing and successful asset enhancement initiatives [3][17][19] - The portfolio occupancy rate remains high at 98.1%, despite a slight decrease due to the exit of Cathay Cineplexes [10][19] - The debt profile has improved, with aggregate leverage decreasing to 39.6% and a significant portion of borrowings hedged at fixed rates [13][19] Financial Performance - For 2H FY2023/24, gross revenue increased by 14.3% to S$205.2 million, net property income rose by 12.0% to S$144.3 million, and distributable income to unitholders grew by 12.5% to S$123.1 million [3][4][5] - For the full year, gross revenue reached S$389.6 million, a 10.8% increase, while net property income was S$278.0 million, up 9.7% [5][6][7] - Property operating expenses increased by 20.1% in 2H FY2023/24 and 13.5% for the full year, primarily due to the new acquisition [5][7] Portfolio Occupancy - The portfolio occupancy rate was 99.9% in 3Q FY2024/25 but decreased to 98.1% in 4Q FY2024/25 [10][11] - Individual property occupancies remain strong, with most retail properties above 99%, except for Causeway Point (92.3%) and Century Square (91.8%) [11] - Positive rental reversions were recorded across all properties, ranging from +3.4% to +10.3% [12] Debt Profile - Aggregate leverage improved to 39.6%, well below the regulatory limit of 50% [13][14] - The percentage of borrowings hedged at fixed rates increased to 83.4%, the highest in six years [13][19] - Debt maturity is well-staggered, with a significant portion not due for refinancing until FY2028/29 or later [14] Distribution Payout - For 2H FY2024/25, a distribution payout of 6.059 cents/unit was declared, a slight increase from 6.02 cents/unit in the previous year [15][16] - The full-year payout was 12.113 cents/unit, reflecting a 0.6% improvement compared to the previous year [16] Management Outlook - The CEO highlighted the resilience of the suburban retail portfolio and the success of asset management strategies, indicating a positive outlook for future growth [17][19] - Opportunities for further asset enhancement and portfolio initiatives are anticipated, supported by Singapore's robust suburban retail sector [19][20]

Core Insights - The S&P 500 and Nasdaq are nearing all-time highs, with many popular stocks and ETFs appearing expensive, particularly mega-cap technology stocks [1] - There are still relatively cheap areas in the market, specifically small-cap stocks and real estate investment trusts (REITs), which may present investment opportunities for long-term investors [2] Small-Cap Stocks - The Vanguard Russell 2000 ETF tracks the performance of the Russell 2000 index, which consists of 2,000 small-cap companies with a median market cap of $3.4 billion [4] - The ETF is highly diversified, with no single stock accounting for more than 0.74% of its assets, making it a suitable option for investors seeking exposure to smaller companies [4] Real Estate Investment Trusts (REITs) - The Vanguard Real Estate ETF invests in an index of REITs that own various types of commercial real estate, including retail properties and data centers [5] - This ETF is more concentrated, with the 10 largest holdings comprising 39% of total assets, indicating that some REITs are significantly larger than the average in the sector [6] - The Vanguard Real Estate ETF is designed as an income investment, offering a yield of nearly 4% through dividends passed from its components [6] Investment Timing - The current valuation gap between small-cap and large-cap stocks, along with a likely falling-rate environment, could favor small-cap stocks and rate-sensitive sectors like real estate [9] - Both the Vanguard Russell 2000 ETF and the Vanguard Real Estate ETF are positioned as attractive entry points for long-term investments [8]