June 2012

 

REITs : Average Yield = 7.054%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

Sabana REIT

Q1 – Mar12

2.26

$0.975

9.323%

$1.040

33.90%

Industrial

AIMSAMPI Reit

Q4 – Mar12

2.7

$1.200

9.000%

$1.406

30.00%

Industrial

First REIT

Q1 – Mar12

1.93

$0.915

8.481%

$0.800

16.00%

Hospitals + Hotel (Indonesia)

SaizenREIT

1H – Dec11

0.61

$0.145

8.414%

$0.310

32.00%

Residential (Japan)

Cambridge

Q1 – Mar12

1.171

$0.570

8.263%

$0.619

35.90%

Industrial

CACHE

Q1 – Mar12

2.086

$1.050

7.990%

$0.910

27.70%

Industrial

AscottREIT

Q1 – Mar12

2.14

$1.085

7.889%

$1.310

41.60%

Serviced Apts (Regional)

CapitaRChina

Q1 – Mar12

2.41

$1.310

7.397%

$1.240

30.00%

Retail (China)

MapletreeInd

Q4 – Mar12

2.22

$1.210

7.339%

$1.020

37.80%

Industrial

SuntecReit

Q1 – Mar12

2.453

$1.350

7.308%

$1.962

37.40%

Retail + Office

K-REIT

Q1 – Mar12

1.9

$1.065

7.174%

$1.250

41.80%

Office

MapletreeLog

Q5 – Mar12

1.7

$0.980

6.939%

$0.880

35.20%

Industrial

LippoMalls

Q1 – Mar12

0.69

$0.400

6.900%

$0.566

9.20%

Retail (Indonesia)

Ascendasreit

Q4 – Mar12

3.5

$2.150

6.512%

$1.843

36.60%

Industrial

Frasers Comm

1H – Mar12

3.2423

$1.000

6.480%

$1.330

36.10%

Office + Retail

Starhill Gbl

Q1 – Mar12

1.07

$0.665

6.466%

$0.940

30.40%

Retail + Office

MapletreeCom

Q4 – Mar12

1.554

$0.980

6.378%

$0.954

37.60%

Retail + Office

CapitaComm

Q1 – Mar12

1.9

$1.265

6.040%

$1.560

30.50%

Office (61%) + Retail (22%) + Hotel (17%)

FrasersCT

Q2 – Mar12

2.5

$1.665

6.006%

$1.420

30.90%

Retail

Fortune Reit HK$

2H – Dec11

13.5

$4.560

5.921%

$7.810

25.90%

Retail (HK)

CDL Htrust

Q1 – Mar12

2.78

$1.950

5.733%

$1.580

25.60%

Hotels

PLife REIT

Q1 – Mar12

2.56

$1.880

5.447%

$1.460

35.30%

Hospitals

CapitaMall

Q1 – Mar12

2.3

$1.910

4.843%

$1.570

38.30%

Retail + Office

NOTES :

  • Mkt Price is as on 29-Jun-12
  • Fortune : No DPU Payout as Semi-Annual Payout Policy
  • Saizen : No DPU Payout as Semi-Annual Payout Policy
  • A-REIT : Private Placement (3 May 12) – 150Mil @ $1.99 ; Listing on 14 May 12 2pm
  • PLife : Annualised DPU = 10.24ct
  • StarHill Global : Annualised DPU = 4.3ct
  • MCT : Annualised DPU = 6.25ct
  • CDL H-Trust : Annualised DPU = 11.18ct ; No DPU Payout as Semi-Annual Payout Policy
  • Suntec : Annualised DPU = 9.866ct
  • FCT :
    A total of $2.3 million has been retained in 1H12 (1Q12: $1.6 million + 2Q12: $0.7 million)

  • FirstREIT : Annualised DPU = 7.76ct ; DPU Includes 0.34ct on Gain from Divestment of Asset
  • CCT : Annualised DPU = 7.64ct ; No DPU Payout as Semi-Annual Payout Policy
  • MLT : DPU Includes 0.03ct from Gain on Disposal of Assets ; FY Changed from Dec to Mar
  • FCOT : Annualised DPU = 6.48ct
  • Sabana : Annualised DPU = 9.09ct
  • Cambridge : Annualised DPU = 4.71ct
  • CLT : Annualised DPU = 8.39ct ; Advanced DPU = 2.044ct (1-Jan-12 to 29-Mar-12)
  • CMT : Annualised DPU Payout = 9.25ct
  • CRCT : Annualised DPU Payout = 9.69ct ; No DPU Payout as Semi-Annual Payout Policy
  • K-REIT : Annualised DPU Payout = 7.64ct ; No DPU Payout as Semi-Annual Payout Policy ; Will Change to Quarterly DPU Payout Policy from Q312
  • K-REIT : Proposed 17-for-20 Rights Issue @ $0.85 (17-Oct-11)
  • LMIR : Proposed Rights 1-for-1 @ $0.31 ; SGX Annc (3-Oct-11) ; 1H11 Proforma – DPU 1.63ct ; NAV $0.5753 ; TERP $0.458 (Mkt $0.605)
  • AIMSAMPI Reit : 5-to-1 Stocks Consolidation on 29-Sep-11
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
  • FCOT : 5-to-1 Stocks Consolidation on 8-Feb-11 ; Circular (30-Dec-10) : Proforma FY10 (Sep) – DPU 5.55ct ; NAV $1.38 ; Issued Shares 620,857,225
  • FirstREIT : Proposed Rights 5-for-4 @ $0.50 ; SGX Annc (10-Nov-10) ; FY11 Forecast – DPU 6.4ct ; NAV $0.76 ; Gearing 17.25% ; TERP $0.70 (Mkt $0.95)
  • Sabana : Forecast DPU FY11 = 8.63ct ; FY12 = 8.67ct ; Listed on 26 Nov 10 2pm @ $1.05
  • MIT (IPO) : IPO Forecast – 3.1ct (FY11 – Mar) ; 7.46ct (FY12 – Mar) ; Listing : 21-Oct-10 2pm ; IPO Prospectus

  
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

FSL Trust

Q1 – Mar12

0.1

$0.189

2.688%

$0.490

Shipping Trust

Rickmers

Q1 – Mar12

0.6

$0.320

9.526%

$0.940

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2701:US$1 fm Yahoo Finance)
  • Rickmers : 9% Payout (of Cash flow available for distribution before payment to debt capital providers)

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q4 – Mar12

0.82

$0.400

8.200%

$0.279

Infrastructure – Water + Gas + Power

K-Green

FY11 – Dec

7.82

$0.995

7.859%

$1.070

Energy (Incineration) + Water (NEWater)

AscendasIndT

2H – Mar12

2.96

$0.760

7.789%

$0.710

India – Industrial Park

Indiabulls

Q4 – Mar12

$0.101

$0.453

India – Office

HPH Trust US$

FY12 – IPO

6.59

$0.710

9.282%

HK$7.75

Ports – HK + China

TCT

1H – Jun11

5.00

$1.635

6.116%

$4.140

China – Retail + Office + Industrial

PerennialCRT

Q1 – Mar12

0.94

$0.470

8.106%

$0.680

China Retail

NOTES :

  • PCRT : No DPU Payout as Semi-Annual Payout Policy ; DPU Includes $10.54Mil Additional Income (To Be Drawn from Earn-Out Fund)
  • CitySpring : Guidance for FY13 DPU = 3.28ct ie 0.82ct / Q
  • Indiabulls : No DPU Declared
  • PCRT : DPU = 2.35ct (9-Jun-11 to 31-Dec-11) ; Includes $25Mil Additional Income (Drawn from Earn-Out Fund)
  • TCT : DPU Declaration Delayed for 2H11 ; Above Yield Figure Uses 1H11 DPU
  • HPH Trust : 2H11 DPU Payout = HK23.4ct ; Above Table Uses IPO Forecast to Compute Yield (Both DPU & Mkt Price in US$)
  • a-iTrust : No DPU Payout as Semi-Annual Payout Policy
  • K-Green : 2H DPU Payout = 4.69ct ; 1H DPU Payout = 3.13ct ; Above Table Uses FY11 DPU = 7.82ct to Calculate Yield
  • CitySpring : Proposed 11-for-20 Rights Issue @ $0.39. TERP = $0.4835 @ $0.535 (Mkt Price) ; Annualised Yield (Profroma 2FY11) = 6.8% @ TERP (Before Rights = 8.4% @ $0.535)
  • PCRT : IPO DPU Forecast – FY11 = 2.35ct ; FY12 = 3.86ct ; Semi-Annual Dividend Payout with 1st Payout for Dec-11 ; Listing on 9-Jun-11 2pm
  • HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
  • Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)

 

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