August 2016

 

 

Results Announcement

  • 1 Aug 16 : OUE H-Trust (Updated)
  • 2 Aug 16 : OUE C-REIT (Updated)
  • 3 Aug 16 : Religare (Updated)
  • 4 Aug 16 : LMIR (Updated)
  • 4 Aug 16 : A-HTrust (Updated)
  • 4 Aug 16 : FSL (Updated)
  • 5 Aug 16 : Rickmers (Updated)
  • 10 Aug 16 : IREIT Global (Updated)
  • 12 Aug 16 (AM) : APTT (Updated)
  • 12 Aug 16 (AM) : Accordia (Updated)
  • 12 Aug 16 : BHG (Updated)
  • 26 Aug 16 (AM) : CRT (Updated)

 

 

REITs : Average Yield = 6.919% (Excludes Saizen)

REIT

Period

Mkt

DPU cts

Yield

NAV

Gearing

Assets Type

Viva Ind Tr

Q2 – Jun16

$0.745

1.750

9.447%

$0.807

40.00%

Biz Park (59%) + Light Industrial (25%) + Hotel (10%) + Logistics (6%) by Revenue

Sabana REIT

Q2 – Jun16

$0.525

1.230

9.429%

$0.800

41.20%

Industrial (21)

SoilbuildBizREIT

Q2 – Jun16

$0.685

1.565

9.139%

$0.790

35.90%

Industrial (11) : Business Park 34% + Industrial 66% by NPI

Lippo Malls Tr

Q2 – Jun16

$0.375

0.850

9.067%

$0.379

35.70%

Retail (Indonesia) – 19

Cache Log Trust

Q2 – Jun16

$0.915

1.989

8.743%

$0.870

39.80%

Industrial (19) : Singapore (85%) + Australia (14%) + China (1%) by Gross Revenue

IREIT Global

1H – Jun16

$0.735

3.180

8.653%

$0.638

41.80%

Offices : Germany (5)

AIMSAMP Cap Reit

Q1 – Jun16

$1.395

2.750

8.136%

$1.475

33.10%

Industrial (26) : Singapore + Australia

Cambridge Ind Tr

Q2 – Jun16

$0.540

1.078

7.985%

$0.669

37.40%

Industrial (51)

OUE COMMERCIAL REIT

1H – Jun16

$0.690

2.680

7.768%

$0.910

40.20%

Office (83%) + Retail (17%) ; Singapore (79.9%) + China (20.1%) by Revenue

FHT

Q3 – Jun16

$0.790

1.513

7.659%

$0.800

38.30%

Hotel (60.7%) + Serviced Apt (39.3%) : Australia (29%) + Singapore (27%) + UK (20%) + Japan (15%) + Malaysia (5%) + Germany (4%) by NPI

Far East HTrust

Q2 – Jun16

$0.595

1.010

7.496%

$0.929

32.80%

Hotels (64.4%) + Commercial (22.0%) + Serviced Apts (13.6%) by Revenue

OUE Htrust

Q2 – Jun16

$0.675

0.920

7.244%

$0.790

31.20%

Hotel (78.0%) + Retail (22.0%) by NPI

Ascendas-hTrust

Q1 – Jun16

$0.720

1.290

7.167%

$0.850

33.20%

Hotels (11) : Australia (50%) + Japan (26%) + Singapore (15%) + China (9%) by NPI

Frasers Com Tr

Q3 – Jun16

$1.365

2.410

7.099%

$1.500

36.30%

Singapore (55.3%) + Australia (44.7%) by NPI

CDL Htrust

1H – Jun16

$1.385

4.450

7.090%

$1.573

36.30%

Hotels : Singapore (61.3%) + Australia (11.2%) + Maldives (8.9%) + NZ (8.1%) + Japan (4.6%) + UK (5.9%) by NPI

Ascott Reit

1H – Jun16

$1.135

3.875

7.060%

$1.320

41.00%

Serviced Apts (90) : Key Mkt (87.9%) + R.O.W (12.1%) by Valuation

Mapletree Log Tr

Q1 – Jun16

$1.070

1.850

6.916%

$1.000

35.70%

Industrial (118)

BHG Retail Reit

Q2 – Jun16

$0.755

2.850

6.787%

$0.800

29.40%

Retail (China) – 5

Mapletree GCC Tr

Q1 – Jun16

$1.100

1.850

6.727%

$1.183

40.10%

Retail + Office : HK (67.8%) + China (32.2%) by NPI

CapitaR China Tr

1H – Jun16

$1.630

5.320

6.564%

$1.550

29.20%

Retail (China) – 10

ManulifeREIT USD

FY16 – IPO

$0.840

3.650

6.474%

$0.780

36.80%

Offices : USA (3)

First REIT

Q2 – Jun16

$1.315

2.110

6.456%

$1.031

34.40%

Hospitals (12 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3)

StarhillGbl Reit

Q4 – Jun16

$0.805

1.290

6.435%

$0.910

35.00%

Retail (86.6%) + Office (13.4%) ; Singapore (61.9%) + Australia (22.6%) + Malaysia (12.1%) + China (1.9%) + Japan (1.5%) by Revenue

Mapletree Ind Tr

Q1 – Jun16

$1.780

2.850

6.404%

$1.370

28.20%

Industrial (85)

Frasers L&I Tr

FY16 – IPO

$0.975

2.030

6.229%

$0.880

25.70%

Industrial (Australia) – 51

Ascendas Reit

Q1 – Jun16

$2.450

3.996

6.221%

$2.000

37.00%

Industrial : Singapore (85%) + Australia (11%) + China (4%) by Valuation

Suntec Reit

Q2 – Jun16

$1.675

2.501

6.056%

$2.101

34.70%

Retail (40%) + Office (41%) + Convention (19%) by Revenue

Keppel Reit

Q2 – Jun16

$1.065

1.610

6.047%

$1.410

39.00%

Office (8) : Singapore (90%) + Australia (10%) by Asset Value

SPHREIT

Q3 – May16

$0.960

1.360

5.708%

$0.940

25.70%

Retail (2)

CapitaCom Trust

1H – Jun16

$1.545

4.390

5.683%

$1.720

29.80%

Office (68%) + Retail (19%) + Hotel (13%) by Gross Rental Income

Keppel DC REIT

1H – Jun16

$1.220

3.340

5.475%

$0.884

29.10%

Data Centres – 9 + 1 (Under Devt)

Frasers Cpt Tr

Q3 – Jun16

$2.160

3.040

5.467%

$1.900

28.50%

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

CapitaMall Trust

Q2 – Jun16

$2.160

2.740

5.245%

$1.870

35.30%

Retail (16) + Office

Mapletree Com Tr

Q1 – Jun16

$1.560

2.030

5.224%

$1.294

35.00%

Retail (68.5%) + Office (31.5%) by NPI

Fortune Reit HKD

1H – Jun16

$9.960

24.780

4.976%

$12.770

29.80%

Retail (HK) – 17

ParkwayLife Reit

Q2 – Jun16

$2.500

3.010

4.816%

$1.640

37.80%

Hospitals + Nursing Homes = 48 : Singapore 59% + Japan 41% by Gross Revenue

Saizen REIT

2H – Jun15

$0.129

2.930

0.000%

$1.210

35.00%

Residential (Japan) – 136

NOTES :

  • Mkt Price is as on 31-Aug-16
  • BHG REIT : Above DPU for the Period 11-Dec-15 to 30-Jun-16
  • IREIT : DPU 100% Hedged @ €1 : S$1.53 for FY16
  • OUE H-Trust : Actual DPU Payout = 0.92ct (1.23ct if Rights Shares Not Entitled) ; Above Yield Uses Proforma FY15 DPU from Rights Circular ; Rights were ranked equal to existing shares and entitled to same DPU, New Acquisition Only Completed on 1-Aug
  • FHT : DPU Not Paid as Semi-Annual Payout Policy
  • MGCT : DPU Not Paid as Semi-Annual Payout Policy
  • YTL StarHill : Above Yield is Computed using last 4Qs DPU : 5.18ct = 1.32ct (Dec15) + 1.31ct (Sep15) + 1.29ct (Jun16) + 1.26ct (Mar16)
  • FE-HTrust : Above Yield is Computed using last 4Qs DPU : 4.46ct = 1.17ct (Dec15) + 1.20ct (Sep15) + 1.01ct (Jun16) + 1.08ct (Mar16)
  • CDL H-Trust : Above Yield is Computed using last 4Qs DPU : 9.82ct = 5.37ct (2H15) + 4.45ct (1H16)
  • CRCT : Annualised DPU = 10.70ct
  • VIT : Annualised DPU = 7.038ct
  • MCT : Above Yield is Computed using last 4Qs DPU : 8.15ct = 2.08ct (Dec15) + 2.02ct (Sep15) + 2.03ct (Jun16) + 2.02ct (Mar16)
  • PLife : Annualised DPU = 12.04ct
  • AIMSAMPReit : Above Yield is Computed using last 4Qs DPU : 11.35ct = 2.85ct (Dec15) + 2.80ct (Sep15) + 2.75ct (Jun16) + 2.95ct (Mar16)
  • MLT : Includes 0.06ct Divestment Gain for 8 Qs & 0.2ct for 4Qs from Sep-15 ie DPU = 1.79ct (Jun-16) if Excl Divestment Gains
  • Sabana : Annualised DPU = 4.95ct
  • FCOT : Annualised DPU = 9.69ct ; Includes $0.9m from China Square Land for Hotel Payment
  • CMT : Above Yield Uses Latest 4Qs DPU = 2.73ct (Mar16) + 2.88ct (Dec15) + 2.98ct (Sep15) + 2.74ct (Jun16) = 11.33ct
  • Cambridge : Annualised DPU = 4.312ct
  • A-REIT : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield is Computed Using latest 4Qs DPU = 15.241ct = 3.889ct (Q216) + 7.356ct (2H16) + 3.996ct (Q117)
  • Suntec : Above Yield is Computed Using latest 4Qs DPU = 10.144ct = 2.75ct (Q415) + 2.522ct (Q315) + 2.501ct (Q216) + 2.371ct (Q116)
  • AscottREIT : Above Yield Uses Latest 4Qs DPU = 3.875ct (1H16)) + 4.138ct (2H15) = 8.013ct ; Actual DPU Payout = 2.29ct (23-Mar-16 to 30-Jun-16) as Advanced DPU = 1.585ct (1-Jan-16 to 22-Mar-16) Already Paid
  • CLT : Annualised DPU = 8.0ct
  • FCT : Above Yield is Computed using last 4Qs DPU : 11.804ct = 2.87ct (Dec15) + 2.859ct (Sep15) + 3.040ct (Jun16) + 3.039ct (Mar16) ; Jun16 DPU Incl. $2.1M Retained in Prior Qs
  • FirstREIT : Annualised DPU = 8.49ct
  • SPHREIT : Above Yield is Computed using last 4Qs DPU = 1.33ct (Nov15) + 1.39ct (Aug15) + 1.36ct (May16) + 1.40ct (Feb16) =5.48ct
  • Frasers Industrial & Logistics Trust : IPO Prospectus ; DPU : FY16 = 2.03ct (1-Jun-16 to 30-Sep-16) ; FY17 = 6.25ct ; Listing on 21-Jun-16 9AM @ $0.89 ; NAV Using Current Exchange Rate A$1 : S$1.0248 fm Yahoo Finance
  • Manulife REIT : IPO Prospectus ; DPU : FY16 = US3.65ct (1-May-16 to 31-Dec-16) @ 1.3592 Exchange Rate; FY17 = US5.87ct @ 1.3658 ; Gearing = 36.8% ; NAV = US$0.79 ; Listing on 20-May-16 2pm @ US$0.83
  • A-REIT : DPU = 4.296ct (18-Dec-15 to 31-Mar-16) + 3.06ct (1-Oct-15 to 17-Dec-15) Already Paid
  • 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
  • OUE H-Trust : Rights Circular dated 15-Mar-16 ; 33-for-100 Rights Issue @ $0.54 (TERP = $0.7092 @ $0.765) ; Proforma FY15 DPU = 4.89cts <- 5.84ct ; NAV = $0.81 <- $0.90 ; Gearing = 37.8% <- 42%
  • 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

    
 

Shipping Trusts (non-REITs)

Trust

Period

Mkt

DPU cts

Yield

NAV

Assets Type

FSL Trust^

Q2 – Jun16

$0.179

0.00

0.000%

$0.450

Shipping Trust

RickmersMaritime

Q2 – Jun16

$0.063

0.00

0.000%

$0.350

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3639 : 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

Mkt

DPU cts

Yield

NAV

Assets Type

Kep Infra Tr

Q2 – Jun16

$0.500

0.93

7.440%

$0.324

Infrastructure

Ascendas-iTrust

Q1 – Jun16

$1.080

1.36

5.037%

$0.650

India – Industrial Park (6)

Indiabulls Trust

2H – Mar16

$0.255

0.00

0.250%

$1.710

India – Office

HPH Trust USD

1H – Jun16

$0.430

14.00

9.804%

HK$4.66

Ports – HK (41%) + China (59%) by Revenue

RHT HealthTrust

Q1 – Jun16

$1.025

1.79

6.985%

$0.882

India – Healthcare (18)

Croesus Rtrust

2H – Jun16

$0.865

1.70

7.908%

Y76.87

Japan – Retail (11)

Asian Pay TV Tr

Q2 – Jun16

$0.545

1.63

11.927%

$0.810

Taiwan PayTV

Accordia Golf Tr

Q1 – Jun16

$0.660

1.82

10.045%

$0.960

Japan Golf Courses – 89

NOTES :

  • CroesusRT : Exchange Rate Y100 = S$1.3197 ; Annualised DPU = 6.84ct ; Actual Payout = 1.61ct (4-Apr-16 to 30-Jun-16) ; Hedged Rate – FY16 @ Y85.01 ; FY17 @ Y83.57 ; FY18 @ Y76.39
  • Accordia : : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield Computed Using DPU = 6.63ct = 4.31ct (2H16 – Mar16) + 2.32ct (1H16 – Sep15)
  • APTT : Above Yield uses DPU = 6.5ct as FY16 Guidance = 6.5ct to 7ct (1.625ct/Q ; Q4 May Have Additional DPU)
  • RHT : DPU Not Paid as Semi-Annual Payout Policy
  • HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.77570 : US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun16) = HK14.0ct + 2H (Dec15) = HK18.7ct
  • a-iTrust : DPU Not Paid as Semi-Annual Payout Policy
  • Religare : FY17 DPU Payout Reduced to 95% from current 100%
  • Indiabulls : Yield Computed Using 0ct (2H16) + 0.0638ct (1H16)
  • APTT : FY15 Guidance = 8.25ct (Q1,Q2,Q3 = 2ct + Q4 =2.25ct)
  • Indiabulls : 5-for-1 Shares Consolidation on 25-Aug-15
  • KIT : Previously Cityspring + Offer of Units-in-Specie for Previous KIT ; Started Trading on 18 May 15
  • Indiabulls : Maiden DPU on 1H (Sep12) Declared since Listing on 11-Jun-08

Comments are Closed