May 2014

Results Announcement

  • 2 May 14 (AM) : PLife (Table Updated)
  • 2 May 14 : Rickmers (Table Updated)
  • 5 May 14 : CitySpring (Table Updated)
  • 5 May 14 : LMIR (Table Updated)
  • 5 May 14 : Forterra (Table Updated)
  • 5 May 14 : OUE H-Trust (Table Updated)
  • 6 May 14 (AM) : APTT (Table Updated)
  • 6 May 14 : PCRT(Table Updated)
  • 7 May 14 (AM) : AIMSAMPReit (Table Updated)
  • 8 May 14 : OUE C-Trust (Table Updated)
  • 8 May 14 : Saizen (Table Updated)
  • 14 May 14 : VIT (Table Updated)
  • 15 May 14 (AM) : CRT (Table Updated)
  • 15 May 14 : A-HTrust (Table Updated)
  • 15 May 14 : FSL (Table Updated)

 

 

REITs : Average Yield = 6.403%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

Viva Ind Tr

Q1 – Mar14

1.722

$0.785

8.897%

$0.757

38.90%

Biz Park (77.6%) + Hotel (18.6%) + Logistics (3.8%)

OUE Htrust

Q1 – Mar14

1.680

$0.885

7.593%

$0.910

32.20%

Hotel (69%) + Retail (31%)

SoilbuildBizREIT

Q1 – Mar14

1.562

$0.800

7.535%

$0.810

29.10%

Business Park (2) + Industrial (5)

Ascendas-hTrust

2H – Mar14

2.813

$0.750

7.501%

$0.770

35.60%

Hotels : Australia (51%) + Singapore (24%) + Japan (16%) + China (9%)

Sabana REIT

Q1 – Mar14

1.880

$1.060

7.189%

$1.070

37.00%

Industrial (22)

OUE COMMERCIAL REIT

Q1 – Mar14

1.000

$0.795

7.174%

$1.060

40.80%

Retail + Office

Cache Log Trust

Q1 – Mar14

2.140

$1.210

7.173%

$0.980

29.10%

Industrial : Singapore (12) + Shanghai (1)

Mapletree Ind Tr

Q4 – Mar14

2.510

$1.440

6.972%

$1.200

34.40%

Industrial (84)

Mapletree GCC Tr

2H – Mar14

3.099

$0.895

6.925%

$1.058

38.00%

Retail + Office (China + HK)

AIMSAMP Cap Reit

Q4 – Mar14

2.510

$1.450

6.924%

$1.468

31.70%

Industrial (26)

First REIT

Q1 – Mar14

1.990

$1.190

6.782%

$0.965

32.30%

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

Saizen REIT

1H – Dec13

3.250

$0.960

6.771%

$1.170

38.00%

Residential (Japan) – 139

Lippo Malls Tr

Q1 – Mar14

0.680

$0.405

6.716%

$0.452

26.70%

Retail (Indonesia)

Cambridge Ind Tr

Q1 – Mar14

1.251

$0.775

6.547%

$0.694

29.90%

Industrial (48)

CDL Htrust

Q1 – Mar14

2.750

$1.735

6.427%

$1.617

29.90%

Hotels : Singapore (77.1%) + Australia (10.5%) + NZ (4.5%) + Maldives (7.9%)

CapitaR China Tr

Q1 – Mar14

2.400

$1.520

6.401%

$1.450

31.80%

Retail (China) – 10

Mapletree Log Tr

Q4 – Mar14

1.890

$1.185

6.380%

$0.970

33.30%

Industrial (111)

Fortune Reit HKD

Q1 – Mar14

10.380

$6.780

6.124%

$10.240

32.90%

Retail (HK)

Keppel Reit

Q1 – Mar14

1.970

$1.305

6.123%

$1.370

42.40%

Offices : Singapore (5) + Australia (4)

Frasers Com Tr

Q2 – Mar14

2.052

$1.360

6.110%

$1.550

37.80%

Office + Retail (5)

StarhillGbl Reit

Q1 – Mar14

1.240

$0.835

6.024%

$0.920

29.60%

Retail (86.8%) + Office (13.2%) by Revenue

Frasers Cpt Tr

Q2 – Mar14

2.880

$1.915

5.854%

$1.780

27.70%

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

Far East HTrust

Q1 – Mar14

1.300

$0.890

5.843%

$0.980

30.90%

Hotels (67.4%) + Serviced Apts (13.9%) + Commercial (18.7%) by Revenue

Mapletree Com Tr

Q4 – Mar14

1.953

$1.345

5.808%

$1.160

38.70%

Retail + Office

Ascendas Reit

Q4 – Mar14

3.550

$2.460

5.772%

$2.020

30.00%

Industrial : Singapore (105) + China (2)

Ascott Reit

Q1 – Mar14

1.750

$1.230

5.691%

$1.360

35.90%

Serviced Apts (82) : AsiaPacific (63.4%) + Europe (36.6%)

SPHREIT

Q2 – Feb14

1.390

$1.015

5.478%

$0.900

26.90%

Retail (2)

Suntec Reit

Q1 – Mar14

2.229

$1.795

5.036%

$2.056

37.30%

Retail + Office

CapitaMall Trust

Q1 – Mar14

2.570

$2.070

5.034%

$1.710

35.10%

Retail (16) + Office

CapitaCom Trust

Q1 – Mar14

2.080

$1.690

4.923%

$1.660

30.00%

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

ParkwayLife Reit

Q1 – Mar14

2.820

$2.370

4.759%

$1.600

35.00%

Hospitals + Nursing Homes = 47

NOTES :

  • Mkt Price is as on 30-May-14
  • A-HTrust : DPU Payout = 2.8813ct = 2.8129ct (1-Oct-13 to 31-Mar-14) + 0.0684ct (1-Apr-14 to 8-Apr-14) Already xd on 4-Apr-14
  • VIT : Annualised DPU = 6.984ct
  • OUE C-Trust : For the Period 27-Jan-14 to 31-Mar-14
  • CRCT : DPU Not Paid as Semi-Annual Payout Policy
  • PLife : Annualised DPU = 11.28ct
  • SB REIT : Annualised DPU = 6.028ct (Excludes One-Off Income of $400k)
  • StarHill Global : Annualised DPU = 5.03ct
  • CDL H-Trust : DPU Not Paid as Semi-Annual Payout Policy ; Annualised DPU = 11.15ct
  • CRCT : DPU Not Paid as Semi-Annual Payout Policy ; Annualised DPU = 9.73ct
  • Suntec : Annualised DPU = 9.04ct ; DPU = Advanced 2.105ct (1-Jan to 26-Mar) Already Paid + 0.124ct (27-Mar to 31-Mar)
  • AscottREIT : DPU Not Paid as Semi-Annual Payout Policy
  • FCOT : Annualised DPU = 8.31ct
  • CMT : Annualised DPU = 10.42ct
  • CLT : Annualised DPU = 8.679ct
  • FCT : Above Yield is Computed using last 4Qs DPU = 11.21ct ie 2.5ct (Dec13) + 2.98ct (Sep13) + 2.85ct (Jun13) + 2.88ct (Mar14)
  • CCT : DPU Not Paid as Semi-Annual Payout Policy
  • Sabana : Annualised DPU = 7.62ct
  • Cambridge : Annualised DPU = 5.074ct
  • FirstREIT : Annualised DPU = 8.07ct
  • Keppel REIT : Annualised DPU = 7.99ct
  • OUE C-REIT : IPO Prospectus ; DPU : FY14 = 5.44ct / 4.45ct if Exclude Income Support ; FY15 = 5.51ct (4.6ct if Exclude) ; Gearing = 42.3% ; NAV = $1.043 ; Listing on 27-Jan-14 2pm
  • Suntec : Includes Capital = 0.175ct
  • Saizen : 5-to-1 Unit Consolidation on 5-Nov-13
  • Viva Industrial Trust : IPO Prospectus ; DPU : FY13 = 3.42ct (1-Jul-13 to 31-Dec-13) / 2.23ct if Exclude Income Support ; FY14 = 6.87ct (4.79ct if Exclude) ; FY15 = 7.03ct (5.19ct if Exclude) ; Gearing = 40.2% ; NAV = $0.74 ; Listing on 4-Nov-13 2pm
  • MLT : Includes 0.2ct Divestment Gain for 8 Qs from Q114 (Jun13)
  • 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
  • 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
  • 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
  • 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

  
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

FSL Trust

Q1 – Mar14

0

$0.090

0.000%

$0.400

Shipping Trust

RickmersMaritime

Q1 – Mar14

0.6

$0.290

10.375%

$0.630

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2537:US$1 fm Yahoo Finance)
  • Rickmers : 24% Payout
  • 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 Trust

Q4 – Mar14

0.82

$0.490

6.694%

$0.234

Infrastructure – Water + Gas + Power

Keppel Infra Tr

2H – Dec13

7.82

$1.045

7.483%

$0.960

Energy (Incineration) + Water (NEWater)

Ascendas-iTrust

2H – Mar14

2.32

$0.790

5.873%

$0.620

India – Industrial Park

Indiabulls Trust

1H – Sep13

0.0154

$0.110

0.280%

$0.347

India – Office

HPH Trust USD

2H – Dec13

22.3

$0.750

7.051%

HK$7.32

Ports – HK + China

Forterra Trust

2H – Dec13

$1.690

0.000%

$4.440

China – Retail + Office + Industrial

Perennial CRT

Q1 – Mar14

0.95

$0.550

7.000%

$0.730

China Retail

Religare Htrust

Q3 – Dec13

2.14

$0.850

10.071%

$0.804

India – Healthcare

Croesus Rtrust

Q3 – Mar14

1.76

$0.945

7.450%

Y70.95

Japan – Retail

Asian Pay TV Tr

2H – Dec13

4.13

$0.760

10.855%

$0.870

Taiwan PayTV

NOTES :

  • CRT : DPU Not Paid as Semi-Annual Payout Policy
  • APTT : DPU Not Paid as Semi-Annual Payout ; Above Yield uses FY14 (IPO Projection) DPU = 8.25ct ; ie 1H = 4.12ct + 2H = 4.13ct
  • PCRT : DPU Not Paid as Semi-Annual Payout ; Annualised Yield = 3.85ct
  • CitySpring : Guidance for FY15 DPU = 3.28ct ie 0.82ct / Q
  • CroesusRT : Annualised DPU = 8.11ct ; Above DPU is for the Period 10-May-13 to 31-Dec-13 ; Exchange Rate Y100 = S$1.2332
  • Indiabulls : No DPU Payout as Semi-Annual Policy
  • Religare : No DPU Payout as Semi-Annual Policy
  • HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7527:US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun13) = HK18.7ct + 2H (Dec13) = HK22.3ct
  • a-iTrust : No DPU Payout as Semi-Annual Payout Policy ; Above DPU is based on 90% Payout
  • Religare : DPU = 1.99ct (Q1) + 2.06ct (Q2) ; 1H DPU = 2.922ct if No Sponsor Waiver
  • 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
  • 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
  • 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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