December 2015

 

REITs : Average Yield = 7.297%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

Sabana REIT

Q3 – Sep15

1.770

$0.715

9.818%

$1.040

38.00%

Industrial (23)

Lippo Malls Tr

Q3 – Sep15

0.770

$0.320

9.625%

$0.373

35.00%

Retail (Indonesia) – 19

Cache Log Trust

Q3 – Sep15

2.140

$0.910

9.330%

$0.970

38.30%

Industrial (14) : Singapore (92%) + Shanghai (1%) + Australia (7%) by Gross Rental Income

Viva Ind Tr

Q3 – Sep15

1.647

$0.710

9.203%

$0.827

38.80%

Biz Park (70.4%) + Hotel (14.6%) + Light Industrial (12.1%) + Logistics (2.9%) by Valuation

OUE Htrust

Q3 – Sep15

1.720

$0.770

8.935%

$0.900

42.10%

Hotel (76%) + Retail (24%) by NPI

FHT

Q4 – Sep15

1.665

$0.750

8.877%

$0.857

38.90%

Hotel (60.7%) + Serviced Apt (39.3%) : Singapore (23%) ; Australia (29%) ; UK (29%) ; Japan (11%) ; Malaysia (8%) by NPI

Cambridge Ind Tr

Q3 – Sep15

1.204

$0.565

8.455%

$0.675

37.20%

Industrial (51)

SoilbuildBizREIT

Q3 – Sep15

1.625

$0.770

8.442%

$0.800

36.10%

Business Park 34% + Industrial 66% by NPI

IREIT Global

Q3 – Sep15

1.410

$0.690

8.174%

$0.632

43.40%

Offices : Germany

AIMSAMP Cap Reit

Q2 – Sep15

2.800

$1.375

8.145%

$1.522

30.90%

Industrial (26)

Frasers Com Tr

Q4 – Sep15

2.518

$1.270

7.874%

$1.530

36.20%

Singapore (58%) + Australia (42%) by NPI

Mapletree GCC Tr

1H – Sep15

3.499

$0.915

7.648%

$1.192

41.00%

Retail + Office (China + HK)

Mapletree Log Tr

Q2 – Sep15

1.860

$0.990

7.515%

$1.000

38.80%

Industrial (119)

Mapletree Ind Tr

Q2 – Sep15

2.790

$1.520

7.342%

$1.330

29.70%

Industrial (84)

Keppel Reit

Q3 – Sep15

1.700

$0.930

7.312%

$1.370

42.60%

Offices : Singapore (4) + Australia (5)

Far East HTrust

Q3 – Sep15

1.200

$0.665

7.218%

$0.965

31.40%

Hotels (65.2%) + Serviced Apts (14.2%) + Commercial (20.6%) by Revenue

Ascendas-hTrust

1H – Sep15

2.660

$0.740

7.189%

$0.720

37.50%

Hotels (11) : Australia (56%) + Singapore (16%) + Japan (20%) + China (9%) by NPI

CDL Htrust

Q3 – Sep15

2.360

$1.325

7.064%

$1.593

36.50%

Hotels : Singapore (71.1%) + Australia (9%) + UK (5.4%) + NZ (4.1%) + Maldives (7%) + Japan (2.7%) by Valuation

CapitaR China Tr

Q3 – Sep15

2.640

$1.490

7.027%

$1.680

28.50%

Retail (China) – 10

Ascott Reit

Q3 – Sep15

2.070

$1.185

6.987%

$1.380

40.00%

Serviced Apts (90) : AsiaPacific (68.7%) + Europe (31.3%) by Valuation

First REIT

Q3 – Sep15

2.080

$1.200

6.917%

$1.020

32.90%

Hospitals (11 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3)

StarhillGbl Reit

Q1 – Sep15

1.310

$0.755

6.887%

$0.880

35.70%

Retail (86.2%) + Office (13.8%) ; Singapore (60.1%) + Malaysia (11.5%) + Australia (23%) + China (3.4%) + Japan (2%) by Revenue

Ascendas Reit

1H – Sep15

7.730

$2.280

6.781%

$2.100

34.60%

Industrial : Singapore (102) + China (2)

Keppel DC REIT

Q3 – Sep15

1.640

$1.015

6.463%

$0.860

30.10%

Data Centres – 9

Suntec Reit

Q3 – Sep15

2.522

$1.550

6.455%

$2.066

35.80%

Retail + Office

CapitaCom Trust

Q2 – Sep15

2.140

$1.350

6.341%

$1.720

30.10%

Office (67%) + Retail (20%) + Hotel (13%) by Gross Rental Income

Frasers Cpt Tr

Q4 – Sep15

2.859

$1.845

6.292%

$1.910

28.20%

Retail (6) + 31.17% of Hektar (MREIT)

OUE COMMERCIAL REIT

Q3 – Sep15

1.020

$0.655

6.229%

$0.920

33.90%

Retail (9.7%) + Office (90.3%) by Revenue

Mapletree Com Tr

Q2 – Sep15

2.020

$1.300

6.215%

$1.240

36.40%

Retail + Office

CapitaMall Trust

Q3 – Sep15

2.980

$1.930

6.124%

$1.820

33.80%

Retail (17) + Office

Fortune Reit HKD

Q3 – Sep15

11.540

$7.900

5.843%

$12.430

30.40%

Retail (HK) – 17

SPHREIT

Q4 – Aug15

1.390

$0.955

5.822%

$0.950

25.70%

Retail (2)

ParkwayLife Reit

Q3 – Sep15

3.360

$2.330

5.768%

$1.660

35.80%

Hospitals + Nursing Homes = 47 : Singapore 64.2% + Japan 35.8% by NPI

BHG Retail Reit

FY15 – IPO

0.760

$0.800

5.684%

$0.826

33.50%

Retail (China) – 5

Saizen REIT

2H – Jun15

2.930

$1.090

5.376%

$1.210

35.00%

Residential (Japan) – 136

NOTES :

  • Mkt Price is as on 31-Dec-15
  • BHG REIT : IPO Prospectus ; DPU : FY15 = 0.76ct (1-Nov-15 to 31-Dec-15) / 0.53ct if exclude sponsor waiver ; FY16 = 5.08ct / 3.56ct if exclude sponsor waiver ; Gearing = 33.5% ; NAV = $0.826 ; Listing on 11-Dec-15 2pm @ $0.80
  • IREIT : No DPU Paid as Semi-Annual Payout Policy ; DPU Hedged @ €1 : S$1.54
  • OUE C-REIT : DPU = 1.47ct if Exclude Rights Shares issued on 4-Aug-15 which was only Utilised for Acquisition on 8-Oct-15 ; DPU Not Paid as Semi-Annual Payout Policy
  • Saizen : DPU Not Paid as Semi-Annual Payout Policy
  • PLife : Annualised DPU = 13.44ct ; Includes Divestment Gain = 0.37ct (3rd of 4 Tranches)
  • FortuneREIT : DPU Not Paid as Semi-Annual Payout Policy
  • AscottREIT : DPU Not Paid as Semi-Annual Payout Policy
  • CDL H-Trust : Annualised DPU = 9.36ct ; DPU Not Paid as Semi-Annual Payout Policy
  • FHT : DPU = 1.5745ct (6-Jul-15 to 30-Sep-15) + 0.09ct (1-Jul-15 to 5-Jul-15) Already Paid
  • CCT : DPU Not Paid as Semi-Annual Payout Policy
  • StarHill Global : Annualised DPU = 5.20ct
  • VIT : Annualised DPU = 6.534ct
  • FCOT : Annualised DPU = 9.43ct ; DPU = 1.6069ct (3-Aug-15 to 30-Sep-15) + 0.9112ct (1-Jul-15 to 2-Aug-15) Already Paid as Advanced DPU
  • CRCT : : Annualised DPU = 10.47ct
  • Suntec : Annualised DPU = 10.006ct
  • A-REIT : Actual DPU Payout = 8.001ct = 7.73ct (Recurrent DPU) + 0.271ct (One-Off)
  • CMT : Annualised DPU = 11.82ct
  • Cambridge : Annualised DPU = 4.777ct
  • FCT : Above Yield is Computed using last 4Qs DPU = 11.608ct ie 2.75ct (Dec14) + 2.859ct (Sep15) + 3.036ct (Jun15) + 2.963ct (Mar15)
  • CLT : Annualised DPU = 8.49ct
  • Sabana : Annualised DPU = 7.02ct
  • Keppel DC REIT : DPU Not Paid as Semi-Annual Payout Policy
  • FirstREIT : Annualised DPU = 8.3ct
  • Saizen : DPU Hedged @ Y85.6(Jun-15) & Y87 for 1H16 (Mar-16)
  • SB REIT : DPU = Actual Payout = 0.987ct (5-May-15 to 30-Jun-15) ; Advanced DPU (Already Paid) = 0.628ct (1-Apr-15 to 4-May-15)
  • IREIT Global : Rights Circular ; 45-for-100 Rights Issue @ $0.468 (TERP = $0.7004 @ $0.805) ; Proforma FY14 DPU = €1.53cts (Same as Actual) ; NAV = €0.48 -> €0.41 ; Gearing 31.8% -> 43.7%
  • 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)

    
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

FSL Trust

Q3 – Sep15

0

$0.161

0.000%

$0.430

Shipping Trust

RickmersMaritime

Q3 – Sep15

0

$0.098

0.000%

$0.570

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.4121: US$1 fm Yahoo Finance)
  • Rickmers
    : DPU Suspended fm Q315
  • 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

Q2 – Sep15

0.93

$0.510

7.294%

$0.350

Infrastructure

Ascendas-iTrust

1H – Sep15

2.74

$0.870

6.299%

$0.650

India – Industrial Park

Indiabulls Trust

1H – Sep15

0.0638

$0.260

0.511%

$1.734

India – Office

HPH Trust USD

1H – Jun15

15.7

$0.530

9.251%

HK$4.84

Ports – HK + China

Religare Htrust

1H – Sep15

3.9

$1.000

7.800%

$0.946

India – Healthcare

Croesus Rtrust

Q1 – Sep15

2.08

$0.810

10.185%

Y80.54

Japan – Retail (7)

Asian Pay TV Tr

Q3 – Sep15

2

$0.640

12.891%

$0.870

Taiwan PayTV

Accordia Golf Tr

1H – Sep15

2.32

$0.535

8.673%

$0.890

Japan Golf Courses – 89

NOTES :

  • CroesusRT : Exchange Rate Y100 = S$1.1729 ; Annualised DPU = 8.25ct ; DPU Not Paid as Semi-Annual Payout Policy
  • APTT : Above Yield uses DPU = 8.25ct as FY15 Guidance = 8.25ct (Q1,Q2,Q3 = 2ct + Q4 =2.25ct)
  • a-iTrust : Above DPU is based on 90% Payoutt
  • HPH Trust : DPU Not Paid for Q3 as Semi-Annual Payout Policy ; DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7504 : US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun15) = HK15.7ct + 2H (Dec14) = HK22.3ct
  • Indiabulls : Yield Computed Using 0.069ct (2H15) + 0.0638ct (1H16)
  • Indiabulls : 5-for-1 Shares Consolidation on 25-Aug-15
  • KIT : Proforma FY14 DPU = 3.73ct as per Circular dated 20-May-15
  • KIT : Previously Cityspring + Offer of Units-in-Specie for Previous KIT ; Started Trading on 18 May 15
  • 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
  • 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

 

 

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