January 2017

 

 

Results Announcement

  • 11 Jan 17 : SPHREIT
  • 17 Jan 17 : FirstREIT
  • 18 Jan 17 (AM) : CCT
  • 20 Jan 17 (AM) : CMT
  • 20 Jan 17 : FCT
  • 23 Jan 17 : KIT
  • 23 Jan 17 : SB REIT
  • 23 Jan 17 : Keppel DC REIT
  • 23 Jan 17 : CLT
  • 23 Jan 17 : MLT
  • 23 Jan 17 : FCOT
  • 24 Jan 17 (AM) : AscottREIT
  • 24 Jan 17 : KeppelREIT
  • 24 Jan 17 : MIT
  • 24 Jan 17 : A-REIT
  • 25 Jan 17 (AM) : PLife
  • 25 Jan 17 (AM) : Cambridge
  • 25 Jan 17 (AM) : Suntec
  • 25 Jan 17 : MCT
  • 25 Jan 17 : Sabana
  • 25 Jan 17 : OUE H-Trust
  • 26 Jan 17 (AM) : VIT
  • 26 Jan 17 (AM) : CRCT
  • 26 Jan 17 : CDL HTrust
  • 26 Jan 17 : MGCCT
  • 26 Jan 17 : FortuneREIT
  • 26 Jan 17 : FHT
  • 26 Jan 17 : OUE C-REIT
  • 26 Jan 17 : YTL Starhill
  • 26 Jan 17 : A-HTrust
  • 31 Jan 17 : a-iTrust
  • 3 Feb 17 : FLT
  • 9 Feb 17 (AM) : AIMSAMPReit
  • 13 Feb 17 (AM) : Manulife
  • 13 Feb 17 : Accordia
  • 14 Feb 17 (AM) : CRT

 

 

REITs : Average Yield = 7.104% (Excludes Saizen)

REIT

Period

Mkt

DPU cts

Yield

NAV

Gearing

Assets Type

SoilbuildBizREIT

Q4 – Dec16

$0.635

1.570

9.890%

$0.720

37.60%

Industrial (12) : Business Park 32% + Industrial 68% by NPI

Viva Ind Tr

Q4 – Dec16

$0.765

1.760

9.153%

$0.791

37.20%

Industrial (8) : Biz Park (53.3%) + Light Industrial (26.1%) + Hotel (12%) + Logistics (8.7%) by NPI

Cache Log Trust

Q4 – Dec16

$0.810

1.850

9.136%

$0.780

43.10%

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

Sabana REIT

Q4 – Dec16

$0.385

0.880

9.091%

$0.740

43.20%

Industrial (21)

Lippo Malls Tr

Q3 – Sep16

$0.390

0.860

8.821%

$0.392

32.70%

Retail (Indonesia) – 19

IREIT Global

Q3 – Sep16

$0.735

1.570

8.544%

$0.639

42.50%

Offices : Germany (5)

AIMSAMP Cap Reit

Q2 – Sep16

$1.360

2.750

8.309%

$1.466

34.00%

Industrial (26) : Singapore + Australia

FHT

Q1 – Dec16

$0.665

1.326

7.975%

$0.748

33.70%

Hotel (9) + Serviced Apt (6) : Australia (40%) + Singapore (20%) + UK (14%) + Japan (15%) + Malaysia (6%) + Germany (5%) by NPI

BHG Retail Reit

Q3 – Sep16

$0.650

1.290

7.938%

$0.800

30.50%

Retail (China) – 5

Frasers Com Tr

Q1 – Dec16

$1.255

2.506

7.920%

$1.530

36.00%

Singapore (54%) + Australia (46%) by NPI

EC World Reit

Q3 – Sep16

$0.710

0.991

7.838%

$0.960

28.10%

Port, Warehouse & e-Commerce Infrastructure in China

OUE Htrust

Q4 – Dec16

$0.695

1.360

7.827%

$0.770

38.10%

Hotel (77%) + Retail (23%) by NPI

Ascendas-hTrust

Q3 – Dec16

$0.735

1.640

7.633%

$0.850

33.30%

Hotels (11) : Australia (56%) + Japan (24%) + Singapore (12%) + China (8%) by NPI

Mapletree GCC Tr

Q3 – Dec16

$0.955

1.778

7.447%

$1.213

40.50%

Retail + Office : HK (72.2%) + China (27.8%) by NPI ; Retail (64.7%) + Office (33.9%) by NPI

OUE Com Reit

2H – Dec16

$0.700

2.500

7.400%

$0.930

39.60%

Office (82.4%) + Retail (17.6%) ; Singapore (80.4%) + China (19.6%) by Revenue

Far East HTrust

Q3 – Sep16

$0.600

1.120

7.300%

$0.928

32.80%

Hotels (65%) + Commercial (20.9%) + Serviced Apts (14.1%) by Revenue

Ascott Reit

2H – Dec16

$1.135

4.392

7.284%

$1.330

39.80%

Serviced Apts (90) : Key Mkt (87.7%) + R.O.W (12.3%) by Valuation

Mapletree Log Tr

Q3 – Dec16

$1.050

1.870

7.124%

$1.010

38.70%

Industrial (128)

CDL Htrust

2H – Dec16

$1.415

5.550

7.067%

$1.551

36.80%

Hotels : Singapore (62%) + Australia (10%) + Maldives (8%) + NZ (10%) + Japan (4%) + UK (6%) by NPI

Cambridge Ind Tr

Q4 – Dec16

$0.565

0.996

7.051%

$0.634

37.50%

Industrial (49)

Frasers L&I Tr

1H – Sep16

$0.940

1.840

6.937%

$0.930

28.20%

Industrial (Australia) – 53

Mapletree Ind Tr

Q3 – Dec16

$1.645

2.830

6.881%

$1.370

29.40%

Industrial (85)

StarhillGbl Reit

Q2 – Dec16

$0.765

1.260

6.680%

$0.910

35.20%

Retail + Office : Singapore (61.4%) + Australia (23.4%) + Malaysia (12.7%) + Others (2.5%) by Revenue

First REIT

Q4 – Dec16

$1.270

2.130

6.669%

$1.008

31.10%

Hospitals (13 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3)

CapitaR China Tr

2H – Dec16

$1.420

4.730

6.662%

$1.600

35.30%

Retail (China) – 11

ManulifeREIT USD

FY16 – IPO

$0.855

3.650

6.360%

$0.780

36.80%

Offices : USA (3)

Ascendas Reit

Q3 – Dec16

$2.460

3.993

6.176%

$2.040

31.80%

Industrial (130) : Singapore (86%) + Australia (14%) by Valuation

CapitaCom Trust

2H – Dec16

$1.525

4.690

6.151%

$1.730

37.80%

Office (70%) + Retail (18%) + Hotel (12%) by Gross Rental Income

Frasers Cpt Tr

Q1 – Dec16

$2.000

2.890

5.892%

$1.930

29.70%

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

Keppel Reit

Q4 – Dec16

$1.010

1.480

5.861%

$1.430

38.50%

Office (8) : Singapore (89%) + Australia (11%) by Asset Value

Suntec Reit

Q4 – Dec16

$1.730

2.596

5.782%

$2.121

37.70%

Office (65%) + Retail (30%) + Convention (5%) by Income

CapitaMall Trust

Q4 – Dec16

$1.940

2.880

5.737%

$1.860

34.80%

Retail (16) + Office

SPHREIT

Q1 – Nov16

$0.970

1.340

5.680%

$0.940

25.70%

Retail (2)

Mapletree Com Tr

Q3 – Dec16

$1.530

2.280

5.477%

$1.340

37.00%

Retail + Office

Fortune Reit HKD

2H – Dec16

$9.020

24.450

5.421%

$12.900

29.50%

Retail (HK) – 17

ParkwayLife Reit

Q4 – Dec16

$2.430

3.060

5.037%

$1.680

36.30%

Hospitals + Nursing Homes = 44 : Singapore 62% + Japan 37% by Gross Revenue

Keppel DC REIT

2H – Dec16

$1.195

2.800

4.686%

$0.926

28.30%

Data Centres – 12 + 1 (Under Devt)

Saizen REIT

2H – Jun15

$0.051

2.930

0.000%

$1.210

35.00%

Residential (Japan) – 136

NOTES :

  • Mkt Price is as on 31-Jan-17
  • A-HTrust : Above Yield is Computed Using latest 4Qs DPU = 5.61ct = 1.64ct (Q317) + 2.67ct (1H17) + 1.3ct (Q416) ; DPU Not Paid as Semi-Annual Payout Policy
  • FHT : DPU Not Paid as Semi-Annual Payout Policy
  • YTL StarHill : Above Yield is Computed using last 4Qs DPU : 5.11ct = 1.26ct (Dec16) + 1.30ct (Sep16) + 1.29ct (Jun16) + 1.26ct (Mar16)
  • MGCCT : DPU Not Paid as Semi-Annual Payout Policy
  • OUE C-REIT : Above Yield is Computed using last 4Qs DPU : 5.18ct = 2.5ct (2H16) + 2.68ct (1H16)
  • CDL H-Trust : Above Yield is Computed using last 4Qs DPU : 10ct = 5.55ct (2H16) + 4.45ct (1H16)
  • VIT : Annualised DPU = 7.002ct
  • Sabana : Annualised DPU = 3.5ct
  • MCT : Above Yield is Computed using last 4Qs DPU : 8.38ct = 2.28ct (Dec16) + 2.05ct (Sep16) + 2.03ct (Jun16) + 2.02ct (Mar16)
  • Cambridge : Annualised DPU = 3.984ct
  • PLife : Annualised DPU = 12.24ct
  • Suntec : Above Yield is Computed Using latest 4Qs DPU = 10.003ct = 2.596ct (Q416) + 2.535ct (Q316) + 2.501ct (Q216) + 2.371ct (Q116)
  • A-REIT : Above Yield is Computed Using latest 4Qs DPU = 15.194ct = 3.993ct (Q317) + 7.791ct (1H17) + 3.41ct (Q416)
  • AscottREIT : Above Yield Uses Latest 4Qs DPU = 4.392ct (2H16) + 3.875ct (1H16) = 8.267ct
  • FCOT : Annualised DPU = 9.94ct ; Includes $850k from Capital Gains (Hotel)
  • Keppel DC REIT : FY16 DPU = 6.68ct if Excl Pro-rated Entitlement due to Preferential Offering ; Q416 DPU = 1.31ct (1.67ct if Excl Preferential Offering Entitlement)
  • FCT : Above Yield is Computed using last 4Qs DPU : 11.784ct = 2.89ct (Dec16) + 2.815ct (Sep16) + 3.040ct (Jun16) + 3.039ct (Mar16) ; Jun16 DPU Incl. $2.1M Retained in Prior Qs
  • CMT : Above Yield Uses Latest 4Qs DPU = 2.73ct (Mar16) + 2.88ct (Dec16) + 2.78ct (Sep16) + 2.74ct (Jun16) = 11.13ct
  • FirstREIT : Annualised DPU = 8.47ct
  • SPHREIT : Above Yield is Computed using last 4Qs DPU = 1.34ct (Nov16) + 1.41ct (Aug16) + 1.36ct (May16) + 1.40ct (Feb16) =5.51ct
  • EC World : DPU = 0.991ct (28-Jul-16 to 30-Sep-16)
  • IREIT Global : DPU Not Paid as Semi-Annual Payout Policy
  • FE-HTrust : Above Yield is Computed using last 4Qs DPU : 4.38ct = 1.17ct (Dec15) + 1.12ct (Sep16) + 1.01ct (Jun16) + 1.08ct (Mar16)
  • Manulife REIT : DPU Not Paid as Semi-Annual Payout Policy ; DPU = US 2.01ct (20-May-16 to 30-Sep-16)
  • FLT : For the Period 20-Jun-16 to 30-Sep-16
  • FHT : Rights Issue on 9-Sep-16 for 441,549,281 @ $0.603, also entitled to DPU (for 1-Apr-16 to 30-Sep-16)
  • AIMSAMPReit : Above Yield is Computed using last 4Qs DPU : 11.30ct = 2.85ct (Dec15) + 2.75ct (Sep16) + 2.75ct (Jun16) + 2.95ct (Mar16)
  • BHG REIT : Above DPU for the Period 11-Dec-15 to 30-Jun-16
  • IREIT : DPU 100% Hedged @ €1 : S$1.53 for FY16
  • 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
  • EC World : IPO Prospectus : DPU FY16 = 3.34ct (1-Jun-16 to 31-Dec-16) ; FY17 5.94ct ; Gearing 28.9% ; NAV $0.88 ; Listing on 28-Jul-16 2pm @ $0.81
  • 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$1.0436 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
  • 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

Q3 – Sep16

$0.155

0.00

0.000%

$0.450

Shipping Trust

RickmersMaritime

Q3 – Sep16

$0.026

0.00

0.000%

$0.260

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.4093 : 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

Q4 – Dec16

$0.495

0.930

7.515%

$0.316

Infrastructure

Ascendas-iTrust

Q3 – Dec16

$1.050

1.420

5.181%

$0.710

India – Industrial Park (6)

Indiabulls Trust

2H – Mar16

$0.255

0.000

0.250%

$1.710

India – Office

HPH Trust USD

1H – Jun16

$0.425

14.000

9.919%

HK$4.71

Ports – HK (40%) + China (60%) by Revenue

RHT HealthTrust

1H – Sep16

$0.920

3.600

7.826%

$0.923

India – Healthcare (18)

Croesus Rtrust

Q1 – Sep16

$0.855

1.790

8.304%

Y71.54

Japan – Retail (11)

Asian Pay TV Tr

Q3 – Sep16

$0.385

1.625

16.883%

$0.840

Taiwan PayTV

Accordia Golf Tr

1H – Sep16

$0.670

2.450

10.090%

$1.010

Japan Golf Courses – 89

Dasin Retail Tr

FY17 – IPO

$0.810

6.800

8.395%

$1.023

China – Retail

NOTES :

  • a-iTrust : DPU Not Paid as Semi-Annual Payout Policy
  • Daisin
    : IPO Prospectus : DPU FY17 = 6.8ct (3.07ct if Exclude Waiver) ; FY18 = 7.2ct (3.78ct if Exclude Waiver) ; NAV RMB4.918 ; Gearing 27.3% Listing on 20-Jan-17 2pm @ $0.80
  • CroesusRT : DPU Not Paid as Semi-Annual Payout Policy ; Exchange Rate Y100 = S$1.2499 ; Annualised DPU = 7.1ct ; Actual Payout = 1.61ct (4-Apr-16 to 30-Jun-16) ; Hedged Rate –FY16 @ Y83.57 ; FY17 @ Y76.39 ; 1H FY18 @ Y71.05
  • Accordia : Above Yield Computed Using DPU = 6.76ct = 4.31ct (2H16 – Mar16) + 2.45ct (1H17 – Sep16)
  • APTT : Above Yield uses DPU = 6.5ct as FY16 Guidance = 6.5ct to 7ct (1.625ct/Q ; Q4 May Have Additional DPU)
  • HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7566 : US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun16) = HK14.0ct + 2H (Dec15) = HK18.7ct
  • 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