September 2016
REITs : Average Yield = 6.887% (Excludes Saizen)
|
REIT |
Period |
Mkt |
DPU cts |
Yield |
NAV |
Gearing |
Assets Type |
|
Sabana REIT |
Q2 – Jun16 |
$0.525 |
1.230 |
9.429% |
$0.800 |
41.20% |
Industrial (21) |
|
Lippo Malls Tr |
Q2 – Jun16 |
$0.375 |
0.850 |
9.067% |
$0.379 |
35.70% |
Retail (Indonesia) – 19 |
|
SoilbuildBizREIT |
Q2 – Jun16 |
$0.700 |
1.565 |
8.943% |
$0.790 |
35.90% |
Industrial (11) : Business Park 34% + Industrial 66% by NPI |
|
Cache Log Trust |
Q2 – Jun16 |
$0.895 |
1.989 |
8.939% |
$0.870 |
39.80% |
Industrial (19) : Singapore (85%) + Australia (14%) + China (1%) by Gross Revenue |
|
Viva Ind Tr |
Q2 – Jun16 |
$0.790 |
1.750 |
8.909% |
$0.807 |
40.00% |
Biz Park (59%) + Light Industrial (25%) + Hotel (10%) + Logistics (6%) by Revenue |
|
FHT |
Q3 – Jun16 |
$0.690 |
1.513 |
8.769% |
$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 |
|
IREIT Global |
1H – Jun16 |
$0.735 |
3.180 |
8.653% |
$0.643 |
41.80% |
Offices : Germany (5) |
|
AIMSAMP Cap Reit |
Q1 – Jun16 |
$1.405 |
2.750 |
8.078% |
$1.475 |
33.10% |
Industrial (26) : Singapore + Australia |
|
Cambridge Ind Tr |
Q2 – Jun16 |
$0.550 |
1.078 |
7.840% |
$0.669 |
37.40% |
Industrial (51) |
|
OUE COMMERCIAL REIT |
1H – Jun16 |
$0.700 |
2.680 |
7.657% |
$0.910 |
40.20% |
Office (83%) + Retail (17%) ; Singapore (79.9%) + China (20.1%) by Revenue |
|
BHG Retail Reit |
Q2 – Jun16 |
$0.685 |
2.850 |
7.481% |
$0.800 |
29.40% |
Retail (China) – 5 |
|
Far East HTrust |
Q2 – Jun16 |
$0.605 |
1.010 |
7.372% |
$0.929 |
32.80% |
Hotels (64.4%) + Commercial (22.0%) + Serviced Apts (13.6%) by Revenue |
|
OUE Htrust |
Q2 – Jun16 |
$0.680 |
0.920 |
7.191% |
$0.790 |
31.20% |
Hotel (78.0%) + Retail (22.0%) by NPI |
|
Ascott Reit |
1H – Jun16 |
$1.140 |
3.875 |
7.029% |
$1.320 |
41.00% |
Serviced Apts (90) : Key Mkt (87.9%) + R.O.W (12.1%) by Valuation |
|
Ascendas-hTrust |
Q1 – Jun16 |
$0.735 |
1.290 |
7.020% |
$0.850 |
33.20% |
Hotels (11) : Australia (50%) + Japan (26%) + Singapore (15%) + China (9%) by NPI |
|
CDL Htrust |
1H – Jun16 |
$1.400 |
4.450 |
7.014% |
$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 |
|
Mapletree Log Tr |
Q1 – Jun16 |
$1.070 |
1.850 |
6.916% |
$1.000 |
35.70% |
Industrial (118) |
|
Frasers Com Tr |
Q3 – Jun16 |
$1.405 |
2.410 |
6.897% |
$1.500 |
36.30% |
Singapore (55.3%) + Australia (44.7%) by NPI |
|
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 |
|
ManulifeREIT USD |
FY16 – IPO |
$0.820 |
3.650 |
6.631% |
$0.780 |
36.80% |
Offices : USA (3) |
|
CapitaR China Tr |
1H – Jun16 |
$1.615 |
5.320 |
6.625% |
$1.550 |
29.20% |
Retail (China) – 10 |
|
Mapletree Ind Tr |
Q1 – Jun16 |
$1.785 |
2.850 |
6.387% |
$1.370 |
28.20% |
Industrial (85) |
|
StarhillGbl Reit |
Q4 – Jun16 |
$0.820 |
1.290 |
6.317% |
$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 |
|
First REIT |
Q2 – Jun16 |
$1.355 |
2.110 |
6.266% |
$1.031 |
34.40% |
Hospitals (12 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3) |
|
Frasers L&I Tr |
FY16 – IPO |
$0.995 |
2.030 |
6.104% |
$0.896 |
25.70% |
Industrial (Australia) – 51 |
|
Ascendas Reit |
Q1 – Jun16 |
$2.520 |
3.996 |
6.048% |
$2.000 |
37.00% |
Industrial : Singapore (85%) + Australia (11%) + China (4%) by Valuation |
|
Suntec Reit |
Q2 – Jun16 |
$1.715 |
2.501 |
5.915% |
$2.101 |
34.70% |
Retail (40%) + Office (41%) + Convention (19%) by Revenue |
|
Keppel Reit |
Q2 – Jun16 |
$1.115 |
1.610 |
5.776% |
$1.410 |
39.00% |
Office (8) : Singapore (90%) + Australia (10%) by Asset Value |
|
CapitaCom Trust |
1H – Jun16 |
$1.590 |
4.390 |
5.522% |
$1.720 |
29.80% |
Office (68%) + Retail (19%) + Hotel (13%) by Gross Rental Income |
|
SPHREIT |
Q3 – May16 |
$1.000 |
1.360 |
5.480% |
$0.940 |
25.70% |
Retail (2) |
|
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 |
$2.200 |
3.040 |
5.367% |
$1.900 |
28.50% |
Retail (6) + 31.17% of Hektar (MREIT) |
|
CapitaMall Trust |
Q2 – Jun16 |
$2.170 |
2.740 |
5.221% |
$1.870 |
35.30% |
Retail (16) + Office |
|
Fortune Reit HKD |
1H – Jun16 |
$9.630 |
24.780 |
5.146% |
$12.770 |
29.80% |
Retail (HK) – 17 |
|
Mapletree Com Tr |
Q1 – Jun16 |
$1.600 |
2.030 |
5.094% |
$1.294 |
35.00% |
Retail (68.5%) + Office (31.5%) by NPI |
|
ParkwayLife Reit |
Q2 – Jun16 |
$2.600 |
3.010 |
4.631% |
$1.640 |
37.80% |
Hospitals + Nursing Homes = 48 : Singapore 59% + Japan 41% by Gross Revenue |
|
Saizen REIT |
2H – Jun15 |
$0.059 |
2.930 |
0.000% |
$1.210 |
35.00% |
Residential (Japan) – 136 |
NOTES :
- Mkt Price is as on 30-Sep-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$1.0443 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 |
$0.181 |
0.00 |
0.000% |
$0.450 |
Shipping Trust |
|
RickmersMaritime |
Q2 – Jun16 |
$0.040 |
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$1.3618 : 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 |
$0.505 |
0.93 |
7.366% |
$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 |
$0.445 |
14.00 |
9.474% |
HK$4.66 |
Ports – HK (41%) + China (59%) by Revenue |
|
RHT HealthTrust |
Q1 – Jun16 |
$1.045 |
1.79 |
6.852% |
$0.882 |
India – Healthcare (18) |
|
Croesus Rtrust |
2H – Jun16 |
$0.855 |
1.70 |
8.000% |
Y76.87 |
Japan – Retail (11) |
|
Asian Pay TV Tr |
Q2 – Jun16 |
$0.510 |
1.63 |
12.745% |
$0.810 |
Taiwan PayTV |
|
Accordia Golf Tr |
Q1 – Jun16 |
$0.675 |
1.82 |
9.822% |
$0.960 |
Japan Golf Courses – 89 |
NOTES :
- CroesusRT : Exchange Rate Y100 = S$1.3441 ; Annualised DPU = 6.84ct ; Actual Payout = 1.61ct (4-Apr-16 to 30-Jun-16) ; Hedged Rate – FY16 @ Y85.01 ; FY17 @ Y83.57 ; FY18 @ Y76.39
- Accordia : : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield Computed Using DPU = 6.63ct = 4.31ct (2H16 – Mar16) + 2.32ct (1H16 – Sep15)
- APTT : Above Yield uses DPU = 6.5ct as FY16 Guidance = 6.5ct to 7ct (1.625ct/Q ; Q4 May Have Additional DPU)
- RHT : DPU Not Paid as Semi-Annual Payout Policy
- HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.77566 : 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