May 2015
Results Announcement
- 6 May 15 : OUE C-REIT (Updated)
- 6 May 15 : Cityspring (Updated)
- 7 May 15 : IREIT Global (Updated)
- 7 May 15 : LMIR (Updated)
- 7 May 15 : OUE H-Trust (Updated)
- 8 May 15 : Fortune (Updated)
- 8 May 15 : A-HTrust (Updated)
- 12 May 15 (AM) – APTT (Updated)
- 12 May 15 : Saizen (Updated)
- 13 May 15 : FSL (Updated)
- 14 May 15 (AM) : CRT (Updated)
- 19 May 15 (AM) : Accordia (Updated)
- 20 May 15 (AM) : Indiabulls (Updated)
- 27 May 15 : Religare (Updated)
REITs : Average Yield = 6.439%
|
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
|
Viva Ind Tr |
Q1 – Mar15 |
1.870 |
$0.835 |
9.083% |
$0.771 |
43.40% |
Biz Park (66.8%) + Hotel (16.4%) + Light Industrial (13.5%) + Logistics (3.3%) by Valuation |
|
Lippo Malls Tr |
Q1 – Mar15 |
0.790 |
$0.375 |
8.427% |
$0.417 |
31.60% |
Retail (Indonesia) – 17 |
|
Sabana REIT |
Q1 – Mar15 |
1.780 |
$0.860 |
8.395% |
$1.040 |
38.00% |
Industrial (23) |
|
IREIT Global |
Q1 – Mar15 |
1.610 |
$0.805 |
8.000% |
$0.711 |
31.80% |
Offices : Germany |
|
AIMSAMP Cap Reit |
Q4 – Mar15 |
2.920 |
$1.505 |
7.761% |
$1.525 |
31.40% |
Industrial (26) |
|
SoilbuildBizREIT |
Q1 – Mar15 |
1.633 |
$0.870 |
7.508% |
$0.800 |
38.50% |
Business Park 36% + Industrial 64% by NPI |
|
Cache Log Trust |
Q1 – Mar15 |
2.146 |
$1.160 |
7.503% |
$0.980 |
36.60% |
Industrial : Singapore (13) + Shanghai (1) + Australia (3) |
|
Ascendas-hTrust |
2H – Mar15 |
2.553 |
$0.715 |
7.140% |
$0.740 |
37.20% |
Hotels (12) : Australia (54%) + Singapore (23%) + Japan (18%) + China (5%) by NPI |
|
Saizen REIT |
1H – Dec14 |
3.100 |
$0.885 |
7.006% |
$1.130 |
37.00% |
Residential (Japan) – 136 |
|
Cambridge Ind Tr |
Q1 – Mar15 |
1.225 |
$0.710 |
6.997% |
$0.680 |
36.40% |
Industrial (50) |
|
OUE COMMERCIAL REIT |
Q1 – Mar15 |
1.440 |
$0.825 |
6.982% |
$1.100 |
38.60% |
Retail (9.9%) + Office (90.1%) by Revenue |
|
FHT |
1H – Mar15 |
4.340 |
$0.870 |
6.976% |
$0.867 |
38.40% |
Hotel (60.7%) + Serviced Apt (39.3%) |
|
OUE Htrust |
Q1 – Mar15 |
1.610 |
$0.955 |
6.743% |
$0.900 |
42.10% |
Hotel (73%) + Retail (27%) by NPI |
|
Mapletree Ind Tr |
Q4 – Mar15 |
2.650 |
$1.595 |
6.646% |
$1.320 |
30.60% |
Industrial (84) |
|
Mapletree Log Tr |
Q4 – Mar15 |
1.850 |
$1.165 |
6.352% |
$1.010 |
34.30% |
Industrial (117) |
|
Mapletree GCC Tr |
2H – Mar15 |
3.398 |
$1.070 |
6.351% |
$1.198 |
36.20% |
Retail + Office (China + HK) |
|
Frasers Com Tr |
Q2 – Mar15 |
2.375 |
$1.555 |
6.206% |
$1.550 |
37.20% |
Singapore (68%) + Australia (32%) by Valuation |
|
CapitaR China Tr |
Q1 – Mar15 |
2.640 |
$1.735 |
6.173% |
$1.620 |
28.60% |
Retail (China) – 10 |
|
Keppel DC REIT |
Q1 – Mar15 |
1.940 |
$1.050 |
6.131% |
$0.870 |
26.70% |
Data Centres – 8 |
|
Ascendas Reit |
2H – Mar15 |
7.300 |
$2.400 |
6.083% |
$2.080 |
33.50% |
Industrial : Singapore (104) + China (2) |
|
Fortune Reit HKD |
Q1 – Mar15 |
11.630 |
$7.770 |
5.987% |
$11.870 |
33.20% |
Retail (HK) – 17 |
|
StarhillGbl Reit |
Q5 – Mar15 |
1.260 |
$0.875 |
5.840% |
$0.930 |
28.70% |
Retail (86.4%) + Office (13.6%) ; Singapore (67.8%) + Malaysia (15.1%) + Australia (9.9%) + China (4.9%) + Japan (2.3%) by Revenue |
|
CDL Htrust |
Q1 – Mar15 |
2.440 |
$1.715 |
5.767% |
$1.615 |
32.30% |
Hotels : Singapore (75.1%) + Australia (9.6%) + NZ (4.4%) + Maldives (8.1%) + Japan (2.8%) by Valuation |
|
Keppel Reit |
Q1 – Mar15 |
1.700 |
$1.195 |
5.690% |
$1.390 |
42.40% |
Offices : Singapore (4) + Australia (5) |
|
First REIT |
Q1 – Mar15 |
2.060 |
$1.470 |
5.680% |
$1.019 |
33.10% |
Hospitals (11 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3) |
|
Ascott Reit |
Q1 – Mar15 |
1.760 |
$1.285 |
5.479% |
$1.360 |
38.70% |
Serviced Apts (90) : AsiaPacific (68.8%) + Europe (31.2%) by Valuation |
|
ParkwayLife Reit |
Q1 – Mar15 |
3.210 |
$2.350 |
5.464% |
$1.680 |
34.40% |
Hospitals + Nursing Homes = 47 : Singapore 62% + Japan 37% by Revenue |
|
Frasers Cpt Tr |
Q2 – Mar15 |
2.963 |
$2.130 |
5.408% |
$1.860 |
28.60% |
Retail (6) + 31.17% of Hektar (MREIT) |
|
SPHREIT |
Q2 – Feb15 |
1.400 |
$1.040 |
5.385% |
$0.930 |
26.00% |
Retail (2) |
|
Far East HTrust |
Q1 – Mar15 |
1.070 |
$0.800 |
5.350% |
$0.968 |
31.50% |
Hotels (64%) + Serviced Apts (14.5%) + Commercial (21.5%) by Revenue |
|
CapitaCom Trust |
Q1 – Mar15 |
2.120 |
$1.615 |
5.251% |
$1.700 |
29.90% |
Office (67%) + Retail (20%) + Hotel (13%) by Gross Rental Income |
|
Mapletree Com Tr |
Q4 – Mar15 |
2.000 |
$1.555 |
5.145% |
$1.240 |
36.40% |
Retail + Office |
|
Suntec Reit |
Q1 – Mar15 |
2.230 |
$1.800 |
5.024% |
$2.085 |
34.80% |
Retail + Office |
|
CapitaMall Trust |
Q1 – Mar15 |
2.680 |
$2.170 |
5.009% |
$1.800 |
33.80% |
Retail (16) + Office |
NOTES :
- Mkt Price is as on 29-May-15
- Saizen : DPU Not Paid as Semi-Annual Payout Policy ; DPU Based on Hedged Rate of Y81.9 : S$1 ; For next DPU Payout on 2H15 (Jun-15), DPU Hedged @ Y85.6 & Y87 for 1H16 (Mar-16)
- FortuneREIT : DPU Not Paid as Semi-Annual Payout Policy
- IREIT : DPU Not Paid as Semi-Annual Payout Policy ; For FY15, DPU Hedged @ €1 : S$1.55
- OUE C-REIT : DPU Not Paid as Semi-Annual Payout Policy
- FHT : DPU = Actual Payout 3.69ct (14-Jul-14 to 31-Mar-15) as 0.65ct fm Japan Assets will Only be Rx in May/Jun and to be Paid out in Sep Q
- CDL H-Trust : Annualised DPU = 9.89ct ; DPU Not Paid as Semi-Annual Payout Policy
- StarHill Global : Annualised DPU = 5.11ct
- PLife : Annualised DPU = 12.84ct ; Includes Divestment Gain = 0.37ct (1st of 4 Tranches)
- CRCT : : Annualised DPU = 10.71ct ; DPU Not Paid as Semi-Annual Payout Policy
- AscottREIT : DPU Not Paid as Semi-Annual Payout Policy
- FCOT : Annualised DPU = 9.65ct
- Suntec : Annualised DPU = 9.044ct
- VIT : Annualised DPU = 7.584ct
- FCT : Above Yield is Computed using last 4Qs DPU = 11.52ct ie 2.75ct (Dec14) + 2.785ct (Sep14) + 3.022ct (Jun14) + 2.963ct (Mar15)
- CLT : Annualised DPU = 8.703ct
- CCT : DPU Not Paid as Semi-Annual Payout Policy
- Cambridge : Annualised DPU = 4.968ct
- CMT : Annualised DPU = 10.87ct
- Sabana : Annualised DPU = 7.22ct
- FirstREIT : Annualised DPU = 8.35ct
- Keppel DC REIT : DPU Not Paid as Semi-Annual Payout Policy ; For the Period 12-Dec-14 to 31-Mar-15
- Keppel DC REIT : IPO Prospectus ; DPU : FY15 = 6.36ct ; FY16 = 6.65ct ; Gearing = 27.8% ; NAV = $0.87 ; Listing on 11-Dec-14 2pm @ $0.88
- IREIT Global : IPO Prospectus ; DPU : FY14 (1-Jul-14 to 31-Dec-14) = 3.33ct ; FY15 = 7.01ct ; FY16 = 7.01ct ; Gearing = 33.2% ; NAV = $0.78 ; Listing on 13-Aug-14 2pm @ $0.88
- A-REIT : DPU Semi-Annual Payout Policy fm FY15(Mar)
- FHT : IPO Prospectus ; DPU : FY14 (1-Apr-14 to 30-Sep-14) = 3.04ct / 2.86ct if Exclude Top Up ; FY15 = 6.16ct (5.72ct if Exclude) ; Gearing = 41.7% ; NAV = $0.83 ; Listing on 14-Jul-14 2pm @ $0.88
- 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 @ $0.88
- 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 @ $0.78
- 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 @ $0.78
- 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 @ $0.78
- 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 @ $0.93
Shipping Trusts (non-REITs)
|
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
|
FSL Trust |
Q1 – Mar15 |
0 |
$0.184 |
0.000% |
$0.410 |
Shipping Trust |
|
RickmersMaritime |
Q1 – Mar15 |
0.6 |
$0.280 |
11.565% |
$0.590 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3493:US$1 fm Yahoo Finance)
- Rickmers : 26% 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 |
|
Kep Infra Tr fka CIT |
FY14 – Proforma |
3.73 |
$0.535 |
6.972% |
$0.340 |
Infrastructure |
|
Ascendas-iTrust |
2H – Mar15 |
2.46 |
$0.885 |
5.559% |
$0.680 |
India – Industrial Park |
|
Indiabulls Trust |
2H – Mar15 |
0.0138 |
$0.092 |
0.303% |
$0.352 |
India – Office |
|
HPH Trust USD |
2H – Dec14 |
22.3 |
$0.660 |
8.012% |
HK$4.90 |
Ports – HK + China |
|
Religare Htrust |
2H – Mar15 |
3.71 |
$1.060 |
7.000% |
$0.968 |
India – Healthcare |
|
Croesus Rtrust |
Q3 – Mar15 |
1.90 |
$0.945 |
8.159% |
Y72.87 |
Japan – Retail (7) |
|
Asian Pay TV Tr |
Q1 – Mar15 |
2.00 |
$0.920 |
8.967% |
$0.900 |
Taiwan PayTV |
|
Accordia Golf Tr |
2H – Mar15 |
5.71 |
$0.785 |
10.926% |
$0.870 |
Japan Golf Courses – 89 |
NOTES :
- Indiabulls : Yield Computed Using 0.0138ct (2H15) + 0.0141ct (1H15)
- KIT : Previously Cityspring + Offer of Units-in-Specie for Previous KIT ; Started Trading on 18 May 15
- Accordia : Above DPU for the Period 1-Aug-14 to 31-Mar-15 ; Includes Non-Recurring Cash Flows
- CroesusRT : Exchange Rate Y100 = S$1.0880 ; Annualised DPU = 7.71ct ; No DPU Payout as Semi-Annual Payout Policy
- APTT : Above Yield uses DPU = 8.25ct as FY15 Guidance = 8.25ct (Q1,Q2,Q3 = 2ct + Q4 =2.25ct)
- a-iTrust : Above DPU is based on 90% Payoutt
- HPH Trust : No DPU Paid as Semi-Annual Payout Policy
- KIT : No DPU Paid as Semi-Annual Payout Policy
- HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7533:US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun14) = HK18.7ct + 2H (Dec14) = HK22.3ct
- Accordia Golf Trust : IPO Prospectus ; DPU : FY15 (1-Aug-14 to 31-Mar-15) = 6.2ct / Annualised = 6.8ct (Excl. Non-Recurring) – Used in Above Yield Computation or 8.8ct (Incl Non-Recurring) ; Gearing & NAV Computed Using IPO Prospectus Figures ; Listing on 1-Aug-14 2pm @ $0.97
- Religare : DPU = 1.99ct (Q1) + 2.06ct (Q2) ; 1H DPU = 2.922ct if No Sponsor Waiver
- Forterra : Delisted on 13-Feb-15 9AM
- PCRT : Delisted on 5-Feb-15 9AM
- 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
- 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
Comments are Closed