December 2009
REITs : Average Yield = 7.210% (Excl. Saizen)
|
REIT |
Period |
DPU ct |
Price |
Yield |
NAV |
Assets Type |
|
Cambridge |
Q3 : Sep-09 |
1.344 |
S$0.45 |
11.849% |
S$0.60 |
Industrial |
|
AIMSAMPIReit |
1H10 (Proforma – Rights) |
1.04 |
S$0.215 |
9.674% |
S$0.31 |
Industrial |
|
LMIR |
Q3 : Sep-09 |
1.22 |
S$0.505 |
9.663% |
S$0.7443 |
Malls – Indonesia |
|
First REIT |
Q3 : Sep-09 |
1.90 |
S$0.815 |
9.350% |
S$0.9267 |
Hospitals + Hotel (Indonesia) |
|
Suntec |
Q3 : Sep-09 |
2.921 |
S$1.35 |
8.584% |
S$1.946 |
Malls + Office |
|
Fortune |
1H09 (Proforma – Rights) |
12.03 |
HK$3.13 |
7.687% |
HK$4.98 |
Malls (HK) |
|
MapleTree |
Q3 : Sep-09 |
1.48 |
S$0.785 |
7.541% |
S$0.86 |
Industrial |
|
Starhill Gbl |
Q3 : Sep-09 |
0.95 |
S$0.525 |
7.181% |
S$0.80 |
Malls + Office |
|
AscottREIT |
Q3 : Sep-09 |
1.92 |
S$1.20 |
6.400% |
S$1.32 |
Serviced Apts (Regional) |
|
CCT |
Q3 : Sep-09 |
1.85 |
S$1.17 |
6.274% |
S$1.49 |
Office |
|
PLife |
Q3 : Sep-09 |
1.91 |
S$1.22 |
6.270% |
S$1.32 |
Hospitals |
|
CapitaRChina |
Q3 : Sep-09 |
2.02 |
S$1.28 |
6.258% |
S$1.10 |
Malls (China) |
|
A-REIT |
Q2 : Sep-09 |
3.48* |
S$2.22 |
6.176% |
S$1.58 |
Industrial |
|
FrasersCT |
Q4 : Sep-09 |
2.04 |
S$1.40 |
5.829% |
S$1.22 |
Malls |
|
FrasersComm |
Q3 : Sep-09 |
0.2 |
S$0.14 |
5.714% |
S$0.27 |
Malls + Office (S’pore + Aust) |
|
K-REIT |
FY08 (Proforma – Rights) |
6.08 |
S$1.10 |
5.527% |
S$1.49 |
Office |
|
CMT |
Q3 : Sep-09 |
2.35 |
S$1.80 |
5.178% |
S$1.54 |
Malls + Office |
|
CDL HTrust |
Q3 : Sep-09 |
2.04 |
S$1.75 |
4.623% |
S$1.41 |
Hotels |
|
Saizen |
Q3 : Sep-09 |
— |
S$0.15 |
— |
S$0.41 |
Residential (Japan) |
NOTES :
- Mkt Price is as on 31-Dec-09
- Suntec : Private Placement 128.5Mil New Units @ $1.19 ; SGX Annc (11-Dec-09) ; Gearing 31.5% ; Aggregate Leverage 33.4%
- MapleTree : Private Placement 115Mil New Units @ $0.69 ; SGX Annc (9-Nov-09) ; Proforma (3Q09) – Yield Accretive +1.5% ; DPU 0.74-0.76ct (Advanced Distribution for the Period 1-Oct-09 to 17-Nov-09) for Existing Shareholders ; Gearing ~38.5%
- MI-REIT : 2-for1 Rights @ $0.159 (xri 25-Nov-09) ; Circular (6-Nov-09) ; 1H10 (Proforma) – DPU 1.04ct (Yield 9.3% @ TERP $0.223 – Mkt $0.41) ; NAV $0.31 ; Gearing 29% ; Listing on 28-Dec-09 9am
- PLife : Annualised DPU = 7.65ct
- Fortune : Q309 DPU = HK9.75ct ; DPU Not Paid as Semi-Annual Payout Policy
- CDLHTrust : Annualised DPU = 8.09ct ; DPU Not Paid as Semi-Annual Payout Policy
- StarHill Gbl : Annualised DPU = 3.77ct
- AscottREIT : DPU Not Paid as Semi-Annual Payout Policy
- Cambridge : Annualised DPU = 5.332ct ; Cambridge A DPU = 0.708ct (12-Aug-09 to 30-Sep-09)
- Suntec : Annualised DPU = 11.589ct
- FrasersComm : Annualised DPU = 0.8ct
- CRCT : Annualised DPU = 8.01ct ; DPU Not Paid as Semi-Annual Payout Policy
- FCT : DPU = 1.95ct if exclude Retained Income from Previous Quarters
- CMT : Annualised DPU = 9.32ct
- FirstREIT : Annualised DPU 7.62ct
- CCT : Annualised DPU = 7.34ct ; DPU Not Paid as Semi-Annual Payout Policy
- A-REIT : DPU = 1.94ct (1-Jul to 19-Aug ; Paid on 23-Sep) + 1.54ct (20-Aug to 30-Sep) ; * Above Yield is Calculated Using DPU = 1.54ct for the Period 20-Aug to 30-Sep.
- KREIT : Annualised DPU = 10.67ct ; DPU Not Paid as Semi-Annual Payout Policy
- KREIT : 1-for1 Rights @ $0.93 (xri 23-Oct-09) ; Circular (3-Oct-09) ; FY08 (Proforma) – DPU 6.08ct (Yield 5.8% @ TERP $1.06 – Mkt $1.18) ; NAV $1.49 ; Gearing 9.1%
- Saizen : No Payout since 1H09 (Dec-08) ; SGX Annc Pg21 : The Board expects Saizen REIT will start accumulating cash for distribution from the last quarter of FY2010 or first quarter of FY2011
- Fortune : Proposed 1-for-1 Rights @ HK$2.29 (xri 15-Sep-09) ; Circular (24-Aug-09) ; 1H09 (Proforma) – DPU HK12.03ct (Yield 7.52% @ TERP HK$3.20) ; NAV HK$4.98
- Cambridge : Private Placement – 71.14Mil Shares @ $0.392 ; Listing on 13-Aug-09 9am
- AREIT : Private Placement – 185Mil Shares @ $1.63 ; Listing on 20-Aug-09 2pm ; Gearing 29.3%
- FCOT : 3-for-1 Rights @ $0.095 (xr 27-Jul-09) ; Circular (30-Jun-09) ; Mar09 (Proforma) – DPU 1.06ct Annualised (Yield 8% @ $0.131 theoretical ex-rights price) ; NAV $0.26 ; Gearing 38.5% ; New Shares Listing – 27 Aug 09
- StarHill Gbl : 1-for-1 Rights @ $0.35 (xr 17-Jul-09) ; Circular (22-Jun-09) : FY08 (Proforma) – DPU 3.85ct (Yield 7.8% @ $0.495 theoretical ex-rights price) ; NAV $0.802; Gearing 20.7% ; New Shares Listing – 19 Aug 09
- CCT : 1-for-1 Rights @ $0.59 (xr 3-Jun-09) ; Circular (29-May-09) : Mar09 (Proforma) – DPU 1.77ct (Yield 7.251% @ $0.825 theoretical ex-rights price) ; NAV $1.51 ; Gearing 30.7%
- Saizen : 11-for-10 Rights @ $0.09 with Attached Warrants (xr 4-May-09)
- CMT : 9-for-10 Rights @ $0.82 (xr 4-Mar-09)
- LMIR : IPO Forecast – FY07 (Dec07) : 2.74ct (Annualised for 1-Jul-07 to 31-Dec-07) ; FY08 : 5.84ct ; FY09 : 6.27ct
- Saizen : IPO Forecast – FY09 (Jun09) : 5.65ct ; FY08 (Jun08) : 4.67ct (Incl. Bonus Div) / Annualised Yield 5.3% @ $1 (Excl. Bonus Div) / 6.51% (Incl Bonus Div)
- PLife : IPO Forecast – 2H07 : 3.3ct ; FY08 : 6.25ct ; FY09 : 6.39ct
Shipping Trusts (non-REITs)
|
Trust |
Period |
DPU ct |
Price |
Yield |
NAV |
Assets Type |
|
PacShipTr US$ |
Q3 : Sep-09 |
0.818 |
US$0.27 |
12.119% |
$0.40 |
Shipping Trust |
|
FSL Trust |
Q3 : Sep-09 |
1.50 |
S$0.60 |
14.026% |
$0.63 |
Shipping Trust |
|
Rickmers |
Q3 : Sep-09 |
0.6 |
S$0.375 |
8.977% |
$0.88 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.4026:US$1 fm Yahoo Finance)
- Rickmers : 13% Payout
- FSL : Q309 DPU = US1.5ct (50% Payout) ; US1.27ct (Stub Distribution) Already Paid Out ; Balance US0.23ct
- PST : 70% Payout
Other Trusts (non-REITs)
|
Trust |
Period |
DPU ct |
Price |
Yield |
NAV |
Assets Type |
|
CitySpring |
Q2 : Sep-09 |
1.05 |
$0.59 |
7.119% |
$0.43* |
Infrastructure – Water, Gas |
|
AscendasIndT |
1H : Sep-09 |
3.91 |
$0.98 |
7.980% |
$0.84 |
India – Industrial Park |
|
HWT |
2H : Dec-09 (Forecast) |
2.86 |
$0.70 |
8.171% |
$0.76 |
China – Water Plant |
|
Indiabulls |
Q2 : Sep-09 |
— |
$0.26 |
— |
$0.7242 |
India – Office |
NOTES :
- Indiabulls : No DPU Declared
- CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.52
- HWT : Q309 DPU = 1.16ct (Not Paid Out as Semi-Annual Payout Policy ; Excludes Sponsor Waiver) ; 2H09 DPU Forecast = 2.86ct (With Sponsor Waiver)
- a-iTrust : DPU = 1.85ct (Sep) + 2.06ct (Jun)
- IndiaBulls : Proposed 53-for-100 Rights @ $0.16 (xr 2-Oct-09) ; Circular (10-Sep-09) ; TERP $0.258 (Mkt $0.31) ; NAV $0.54
- CitySpring : Proposed 1-for-1 Rights @ $0.48 (xr 25-Aug-09) ; Circular (21-Aug-09) ; DPU = 1ct (Proforma Q109) ; Yield 6.349% ; TERP $0.63 (Mkt $0.78) ; NAV $0.28
- HWT : DPU = 2.56ct (With Sponsor Waiver) ; Sponsor DPU = 1.77ct
- HWT : DPU Forecast – 1H09 = 2.56ct ; 2H09 = 2.86ct
- Indiabulls : Listing on 11-Jun-08 2PM
- Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)