September 2013

 

REITs : Average Yield = 6.568%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

Sabana REIT

Q2 – Jun13

2.400

$1.075

8.958%

$1.060

37.10%

Industrial (21)

LippoMalls

Q2 – Jun13

0.930

$0.435

8.552%

$0.567

24.20%

Retail (Indonesia)

SoilbuildBizREIT

FY13 – IPO

4.370

$0.745

7.821%

$0.800

29.90%

Business Park (2) + Industrial (5)

Cambridge

Q2 – Jun13

1.240

$0.670

7.424%

$0.670

35.80%

Industrial (51)

CACHE

Q2 – Jun13

2.147

$1.180

7.298%

$0.960

29.20%

Industrial : Singapore (12) + Shanghai (1)

MapletreeInd

Q1 – Jun13

2.430

$1.350

7.200%

$1.110

35.80%

Industrial (83)

OUE HT

FY13 – IPO

4.770

$0.885

7.154%

$0.903

33.20%

Hotel + Retail

AscottREIT

1H – Jun13

4.700

$1.260

7.094%

$1.360

40.20%

Serviced Apts : AsiaPacific (62%) + Europe (38%)

Frasers Comm

Q3 – Jun13

2.185

$1.260

6.968%

$1.450

39.50%

Office + Retail

AscendasHT

Q1 – Jun13

1.350

$0.780

6.923%

$0.770

35.40%

Hotels : Australia (70%) + Japan (20%) + China (10%)

CapitaRChina

1H – Jun13

4.690

$1.375

6.880%

$1.420

23.50%

Retail (China) – 9

SaizenREIT

2H – Jun13

0.630

$0.184

6.848%

$0.250

38.00%

Residential (Japan) – 139

MapletreeLog

Q1 – Jun13

1.800

$1.070

6.729%

$0.920

34.00%

Industrial (110)

CDL Htrust

1H – Jun13

5.410

$1.630

6.693%

$1.600

29.70%

Hotels : Singapore (79.5%) + Australia (12.2%) + NZ (4.1%) + Maldives (4.2%)

AIMSAMPI Reit

Q1 – Jun13

2.500

$1.500

6.667%

$1.501

25.40%

Industrial (25)

First REIT

Q2 – Jun13

1.850

$1.115

6.493%

$0.897

33.40%

Hospitals (10) + Hotel (Indonesia – 1) + Nursing Home (Singapore – 3)

Kep REIT

Q2 – Jun13

1.970

$1.230

6.423%

$1.270

44.20%

Offices : Singapore (5) + Australia (4)

Far East HTrust

Q2 – Jun13

1.430

$0.915

6.251%

$0.963

29.30%

Hotels (68.3%) + Serviced Apts (15.7%) + Commercial (15.7%)

Ascendasreit

Q1 – Jun13

3.550

$2.280

6.228%

$1.938

28.60%

Industrial

FrasersCT

Q3 – Jun13

2.850

$1.845

6.179%

$1.540

30.40%

Retail (5) + 31.17% of Hektar (MREIT)

MapletreeGCC

Q1 – Jun13

1.734

$0.895

6.101%

$0.949

41.50%

Retail + Office (China + HK)

Starhill Gbl

Q2 – Jun13

1.190

$0.795

6.000%

$0.880

30.30%

Retail (89%) + Office (11%)

Fortune Reit HK$

1H – Jun13

18.000

$6.080

5.921%

$10.010

20.90%

Retail (HK)

MapletreeCom

Q1 – Jun13

1.753

$1.215

5.771%

$1.070

40.80%

Retail + Office

CapitaComm

1H – Jun13

4.010

$1.450

5.579%

$1.650

28.90%

Office (65%) + Retail (21%) + Hotel (14%)

SuntecReit

Q2 – Jun13

2.249

$1.635

5.517%

$2.037

36.50%

Retail + Office

CapitaMall

Q2 – Jun13

2.530

$1.960

5.179%

$1.680

34.90%

Retail (15) + Office

SPHREIT

FY13 – IPO

2.510

$0.975

5.149%

$0.890

27.30%

Retail (2)

PLife REIT

Q2 – Jun13

2.630

$2.350

4.477%

$1.550

31.20%

Hospitals + Nursing Homes = 37

NOTES :

  • Mkt Price is as on 30-Sep-13
  • SoilBuild Business Space REIT : IPO Prospectus ; DPU : FY13 = 4.37ct (1-Apr-13 to 31-Dec-13) / FY14 = 5.97ct ; Yield : FY13 = 7.47% / FY14 = 7.654% ; Gearing = 29.9% ; NAV = $0.80 ; Listing on 16-Aug-13 2pm
  • A-HTrust : DPU = 1.29ct = 1.03ct (1-Apr-13 to 9-Jun-13) + 0.26ct (10-Jun-13 to 30-Jun-13) ; DPU Not Paid as Semi-Annual Policy ; Above Table Uses DPU = 1.35ct (Exclude Dilution from Park Hotel Acquisition)
  • FE-HTrust : Actual Payout = 1.9ct (1-Apr-13 to 31-Jul-13)
  • PLife : Annualised DPU = 10.52ct
  • MGCT : DPU Not Paid as Semi-Annual Policy ; Annualised DPU = 5.46ct (DPU from 7-Mar-13 to 30-Jun-13)
  • FirstREIT : Annualised DPU = 7.24ct ; DPU = 0.86ct (22-May-13 to 30-Jun-13) + 0.99ct (1-Apr-13 to 21-May-13) Already Paid
  • CDL H-Trust : Annualised DPU = 10.91ct
  • OUE H-Trust : IPO Prospectus ; DPU : FY13 = 4.77ct (1-Apr-13 to 31-Dec-13) / FY14 = 6.57ct ; Yield : FY13 = 7.194% / FY14 = 7.466% ; Gearing = 33.2% ; NAV = $0.903 ; Listing on 25-Jul-13 2pm
  • AIMSAMPReit : DPU = 1.65ct (2-May-13 to 30-Jun-13) + 0.85ct (1-Apr-13 to 1-May-13) Advanced DPU Paid ; DPU = 2.78ct (if use 449,399,302 Units on issue as at 31 March 2013 before placement in May 2013)
  • FCOT : Annualised DPU = 8.78ct
  • CLT : Annualised DPU = 8.612ct
  • SPH REIT : IPO Prospectus ; DPU : FY13 (Aug) = 2.51ct (1-Mar-13 to 31-Aug-13) / FY14 (Aug) = 5.21ct ; Yield : FY13 = 5.578% / FY14 = 5.789% ; Gearing = 27.3% ; NAV = $0.88 ; Listing on 24-Jul-13 2pm
  • Cambridge : Annualised DPU = 4.974ct ; DPU = 1.127ct (Capital) + 0.095ct (Capital Gains) due to $13.9Mil Performance Fee payable in cash
  • StarHill Global : Annualised DPU = 4.77ct
  • FCT : DPU includes 1H retained cash of 0.05 cents per unit
  • ART : Yield Computed Using 1H13 DPU = 4.7ct + 2H12 DPU = 4.238ct ; Actual DPU = 4.081ct (6-Feb-13 to 30-Jun-13) + Advanced DPU = 0.617ct (1-Jan-13 to 5-Feb-13) Already Paid
  • Suntec : Annualised DPU = 9.021ct ; Includes Capital = 0.345ct
  • CMT : Annualised DPU = 10.15ct
  • MLT : Includes 0.2ct Divestment Gain (for next 8 Qs)
  • CRCT : Annualised DPU = 9.46ct
  • Sabana : Annualised DPU = 9.63ct
  • CCT : Annualised DPU = 8.09ct
  • KepREIT : Annualised DPU = 7.9ct
  • Saizen : DPU Not Paid as Semi-Annual Policy
  • Fortune : DPU Not Paid as Semi-Annual Policy
  • MGCT : IPO Prospectus ; DPU : FY14 (Mar) = 5.24ct / FY15 (Mar) = 5.69ct ; Yield : FY14 = 5.634% / FY15 = 6.118% ; Gearing = 43% ; NAV = $0.91 ; Listing on 7-Mar-13 2pm
  • FE-HTrust : IPO Prospectus ; DPU : FY12 = 2.32ct (Forecast Period 1-Aug-12 to 31-Dec-12 ; Entitlement only from Listing Date) / FY13 = 5.83ct ; Yield : FY12 = 5.99% / FY13 = 6.27% ; Gearing = 30.5% ; NAV = $0.93 ; Listing on 27-Aug-12 2pm
  • A-HTrust : Listing on 27-Jul-12 2pm ; FY13 DPU = 4.61ct (27 Jul 12 to 31 Mar 13) incl. Waiver of 0.61ct from Sponsor entitlement ; FY14 DPU = 7.07ct ; Gearing = 37.6% Post-IPO Acquisition of Ibis Beijing SanYuan; IPO Prospectus
  • A-REIT : Private Placement (3 May 12) – 150Mil @ $1.99 ; Listing on 14 May 12 2pm
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm

  
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

FSL Trust

Q2 – Jun13

0

$0.099

0.000%

$0.480

Shipping Trust

Rickmers

Q2 – Jun13

0.6

$0.285

10.573%

$0.620

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2555:US$1 fm Yahoo Finance)
  • Rickmers : 16% Payout (of Cash flow available for distribution before payment to debt capital providers)
  • FSL : 30-Jun-12 : Suspends Div Payout till 30-Jun-13 ; Restriction on DPU Payout Continues after 30-Jun-13

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q1 – Jun13

0.82

$0.470

6.979%

$0.230

Infrastructure – Water + Gas + Power

K-Green

1H – Jun13

7.82

$1.010

7.743%

$0.990

Energy (Incineration) + Water (NEWater)

AscendasIndT

Q1 – Jun13

1.14

$0.625

7.296%

$0.600

India – Industrial Park

Indiabulls

2H – Mar13

0.0166

$0.089

0.373%

$0.359

India – Office

HPH Trust US$

1H – Jun13

18.7

$0.780

6.184%

HK$7.35

Ports – HK + China

ForterraTr

1H – Jun13

$2.250

0.000%

$4.540

China – Retail + Office + Industrial

PerennialCRT

1H – Jun13

1.9

$0.530

7.226%

$0.740

China Retail

Religare

FY13 (Mar)

3.55

$0.795

9.938%

$0.834

India – Healthcare

Croesus RTr

FY14 – IPO

7.39

$0.870

8.494%

$0.906

Japan – Retail

Asian Pay TV Tr

FY13 – IPO

7.29

$0.815

10.123%

$0.934

Taiwan PayTV

NOTES :

  • Indiabulls : No DPU as Semi-Annual Policy
  • Religare : Q114 (Jun13) no DPU payout as Semi-Annual Payout Policy ; Distributable Income = $11.352Mil or 1.44ct / Unit
  • APTT : Above Yield uses FY14 (IPO Projection) DPU = 8.25ct ; DPU Payout = 4.8ct ; 2H DPU Payout = 4.13ct as per IPO Prospectus of $128.3Mil ie 8.93ct
  • PCRT : Annualised DPU = 3.83ct
  • HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7543:US$1 fm Yahoo Finance)
  • a-iTrust : No DPU Payout as Semi-Annual Payout Policy ; Above DPU is based on 90% Payout
  • K-Green : 1H13 DPU Payout = 3.13ct ; 2H12 DPU Payout = 4.69ct ; Above Table Uses 2H12 + 1H13 DPU = 7.82ct to Calculate Yield
  • APTT : Prospectus ; IPO @ $0.97 ; FY13 DPU = 7.29ct Yield = 7.51% ; FY14 DPU = 8.25ct Yield = 8.51% ; List on 29-May-13 2pm
  • Religare : DPU = 3.55ct (19-Oct-13 to 31-Mar-13) or 2.554ct (if no Sponsor Waiver)
  • Croesus : Prospectus ; IPO @ $0.93 ; FY14 DPU = 7.39ct Yield = 7.946% ; FY15 DPU = 7.49ct Yield = 8.054% ; Gearing = 43.7% ; List on 10-May-13 2pm
  • CitySpring : Guidance for FY14 DPU = 3.28ct ie 0.82ct / Q
  • Forterra (TCT) : No DPU Declared since 2H11 ; Last DPU = 5ct on 1H11
  • Religare : Prospectus ; IPO @ $0.90 ; FY13 DPU = 4ct (1-Oct-12 to 31-Mar-13) Yield = 8.9% (Sponsor Waiver to DPU) / 6.42% (if no waiver) ; FY14 DPU = 8.17ct Yield = 9.1% (waiver) / 6.54% (no waiver) ; Gearing = 6.7%
  • Indiabulls : Maiden DPU on 1H (sep12) Declared since Listing on 11-Jun-08

 

 

 

 

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