March 2018
REITs : Average Yield = 6.392%
| REIT |
Period |
Mkt |
DPU cts |
Yield |
NAV |
Gearing |
Assets Type |
| SoilbuildBizREIT |
Q4 – Dec17 |
$0.650 |
1.3830 |
8.511% |
$0.640 |
40.60% |
Industrial (12) : Business Park 34% + Industrial 66% by NPI |
| Viva Ind Tr |
Q4 – Dec17 |
$0.885 |
1.8570 |
8.324% |
$0.765 |
39.80% |
Industrial (9) : Biz Park (52.2%) + Light Industrial (20.6%) + Logistics (16.6%) + Hotel (10.6%) by NPI |
| Lippo Malls Tr |
Q4 – Dec17 |
$0.385 |
0.7900 |
8.208% |
$0.320 |
33.70% |
Retail (Indonesia) – 23 |
| EC World Reit |
Q4 – Dec17 |
$0.740 |
1.5040 |
8.130% |
$0.910 |
29.20% |
Port, Warehouse & e-Commerce Infrastructure in China |
| CromwellReit EUR |
FY18 – IPO |
$0.550 |
4.3000 |
7.818% |
$0.530 |
36.80% |
Offices + Industrial : Europe (74) |
| Sabana REIT |
Q4 – Dec17 |
$0.425 |
0.8300 |
7.741% |
$0.530 |
38.20% |
Industrial (20) |
| AIMSAMP Cap Reit |
Q3 – Dec17 |
$1.360 |
2.6200 |
7.684% |
$1.351 |
33.80% |
Industrial (27) : Singapore + Australia |
| Cache Log Trust |
Q4 – Dec17 |
$0.835 |
1.5970 |
7.650% |
$0.716 |
36.30% |
Industrial (19) : Singapore (83%) + Australia (16%) + China (1%) by Gross Revenue |
| IREIT Global |
2H – Dec17 |
$0.790 |
2.8800 |
7.291% |
$0.682 |
40.30% |
Offices : Germany (5) |
| BHG Retail Reit |
2H – Dec17 |
$0.770 |
2.7300 |
7.091% |
$0.830 |
32.20% |
Retail (China) – 5 |
| ESR-REIT |
Q4 – Dec17 |
$0.535 |
0.9290 |
6.946% |
$0.593 |
39.60% |
Industrial (48) |
| FHT |
Q1 – Dec17 |
$0.770 |
1.3107 |
6.809% |
$0.787 |
33.00% |
Hotel (9) + Serviced Apt (6) : Australia (40%) + Singapore (21%) + UK (13%) + Japan (15%) + Malaysia (6%) + Germany (5%) by NPI |
| Kep-KBS Reit USD |
FY18 – IPO |
$0.880 |
5.9700 |
6.784% |
$0.840 |
36.00% |
Offices : USA (11) |
| Ascendas-hTrust |
Q3 – Dec17 |
$0.815 |
1.4100 |
6.761% |
$0.860 |
33.20% |
Hotels (11) : Australia (54%) + Japan (24%) + Singapore (13%) + China (8%) by NPI |
| Frasers Com Tr |
Q1 – Dec17 |
$1.430 |
2.4000 |
6.657% |
$1.550 |
34.80% |
Singapore (50.2%) + Australia (49.8%) by NPI |
| OUE Com Reit |
2H – Dec17 |
$0.705 |
2.2900 |
6.624% |
$0.910 |
37.30% |
Office (84.3%) + Retail (15.7%) by NPI ; Singapore (79.2%) + China (20.8%) by Revenue |
| Frasers L&I Tr |
Q1 – Dec17 |
$1.090 |
1.8000 |
6.606% |
$0.910 |
30.90% |
Industrial (Australia) – 61 |
| Mapletree GCC Tr |
Q3 – Dec17 |
$1.150 |
1.8680 |
6.552% |
$1.228 |
39.30% |
Retail + Office : HK (68.8%) + China (31.2%) by NPI ; Retail (61.4%) + Office (37.1%) by NPI |
| CapitaR China Tr |
2H – Dec17 |
$1.580 |
4.7400 |
6.392% |
$1.590 |
28.40% |
Retail (China) – 10 |
| StarhillGbl Reit |
Q2 – Dec17 |
$0.730 |
1.1700 |
6.356% |
$0.910 |
35.30% |
Retail (88.7%) + Office (11.3%) : Singapore (62.5%) + Australia (22.1%) + Malaysia (13.2%) + Others (2.2%) by Revenue |
| Ascott Reit |
2H – Dec17 |
$1.130 |
3.7300 |
6.271% |
$1.210 |
36.20% |
Serviced Apts (75) : Asia Pacific (62.3%) + Europe (26.1%) + US (11.6%) by Assets |
| OUE Htrust |
Q4 – Dec17 |
$0.825 |
1.2700 |
6.230% |
$0.760 |
38.80% |
Hotel (79%) + Retail (21%) by NPI |
| First REIT |
Q4 – Dec17 |
$1.380 |
2.1500 |
6.210% |
$1.015 |
33.60% |
Hospitals (15 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3) |
| Mapletree Log Tr |
Q3 – Dec17 |
$1.230 |
1.9070 |
6.202% |
$1.050 |
37.80% |
Industrial (124) |
| Ascendas Reit |
Q3 – Dec17 |
$2.630 |
3.9700 |
6.057% |
$2.030 |
35.20% |
Industrial (132) : Singapore (84%) + Australia (16%) by Valuation |
| Mapletree Com Tr |
Q3 – Dec17 |
$1.570 |
2.3000 |
5.752% |
$1.370 |
36.30% |
Retail + Office |
| Mapletree Ind Tr |
Q3 – Dec17 |
$2.030 |
2.8800 |
5.675% |
$1.420 |
33.80% |
Industrial (85) + US Data Centres (14) |
| Far East HTrust |
Q4 – Dec17 |
$0.695 |
0.9700 |
5.612% |
$0.869 |
34.40% |
Hotels 8 (66%) + Commercial (21.8%) + Serviced Apts 4 (12.2%) by Revenue |
| SPHREIT |
Q1 – Nov17 |
$0.995 |
1.3400 |
5.558% |
$0.940 |
25.40% |
Retail (2) |
| Frasers Cpt Tr |
Q1 – Dec17 |
$2.190 |
3.0000 |
5.484% |
$2.020 |
29.40% |
Retail (6) + 31.17% of Hektar (MREIT) |
| CDL Htrust |
2H – Dec17 |
$1.690 |
5.1200 |
5.456% |
$1.530 |
32.60% |
Hotels : Singapore (55.7%) + NZ (12.2%) + Australia (87%) + UK (10.1%) + Maldives (5.2%) + Japan (2.4%) + Germany (5.7%)by NPI |
| ManulifeREIT USD |
2H – Dec17 |
$0.930 |
2.5700 |
5.423% |
$0.800 |
33.70% |
Offices : USA (5) |
| CapitaMall Trust |
Q4 – Dec17 |
$2.080 |
2.9000 |
5.365% |
$1.920 |
34.20% |
Retail (16) + Office |
| Suntec Reit |
Q4 – Dec17 |
$1.890 |
2.6040 |
5.294% |
$2.093 |
36.40% |
Office (68%) + Retail (27%) + Convention (5%) by Income |
| Fortune Reit HKD |
2H – Dec17 |
$9.710 |
25.2500 |
5.201% |
$14.050 |
27.40% |
Retail (HK) – 17 |
| Keppel DC REIT |
2H – Dec17 |
$1.440 |
3.4900 |
4.847% |
$0.930 |
32.10% |
Data Centres – 13 + 1 (Under Devt) |
| Keppel Reit |
Q4 – Dec17 |
$1.210 |
1.4300 |
4.727% |
$1.400 |
38.70% |
Office (8) : Singapore (81.2%) + Australia (18.8%) by Income |
| ParkwayLife Reit |
Q4 – Dec17 |
$2.800 |
3.3800 |
4.500% |
$1.730 |
36.40% |
Hospitals + Nursing Homes = 49 : Singapore 61.2% + Japan 38.4% by Gross Revenue |
| CapitaCom Trust |
2H – Dec17 |
$1.830 |
4.100 |
4.481% |
$1.740 |
37.30% |
Office (74%) + Retail (15%) + Hotel (11%) by Gross Rental Income |
NOTES :
- Mkt Price is as on 31-Mar-18
- FE-HTrust : Above Yield is Computed using last 4Qs DPU : 3.9ct = 0.97ct (Dec17) + 1.03ct (Sep17) + 0.97ct (Jun17) + 0.93ct (Mar17)
- Manulife REIT : For the Period 30-Jun-17 to 31-Dec-17
- A-HTrust : Above Yield is Computed Using latest 4Qs DPU = 5.51ct = 2.73ct (1H18) + 1,7ct (Q417) + 1.41ct (Q318)
- AIMSAMPReit : DPU = 0.71ct (1-Dec-17 to 31-Dec-17) + 1.91ct (1-Oct-17 to 30-Nov-17) Advanced DPU Paid ; Above Yield is Computed using last 4Qs DPU : 10.45ct = 2.62ct (Dec17) + 2.55ct (Sep17) + 2.5ct (Jun17) + 2.78ct (Mar17)
- OUE C-REIT : Above Yield is Computed using last 4Qs DPU : 4.67ct = 2.29ct (2h17) + 2.38ct (1H17)
- CRCT : Above Yield Uses Latest 4Qs DPU = 4.74ct (2H17) + 5.36ct (1H17) = 10.10ct ; 2H17 DPU = 0.83ct (7-Dec-17 to 31-Dec-17) + 3.91ct (1-Oct-17 to 6-Dec-17) Advanced DPU Already Paid
- OUE-HTrust : Above Yield is Computed using last 4Qs DPU : 5.14ct = 1.27ct (Dec17) + 1.36ct (Sep17) + 1.21ct (Jun17) + 1.30ct (Mar17)
- YTL StarHill : Annualised DPU = 4.64ct
- FLT : DPU Not Paid as Semi-Annual Payout Policy
- CDL H-Trust : Above Yield is Computed using last 4Qs DPU : 9.22ct = 5.12ct (2H17) + 4.1ct (1H17)
- VIT : Annualised DPU = 7.367ct
- PLife : Above Yield is Computed Using Recurring DPU = 3.15ct ie Excl. 0.23ct Divestment Gain (4th of 4 Tranches)
- AscottREIT : Above Yield Uses Latest 4Qs DPU = 3.356ct (1H17) + 3.73ct (2H17) = 7.086ct
- Sabana : Annualised DPU = 3.29ct
- MGCCT : Above Yield is Computed Using latest 4Qs DPU : 7.535ct = 3.714ct (1H18) + 3.731ct (2H17) ; DPU Not Paid as Semi-Annual Payout Policy
- A-REIT : Above Yield is Computed Using latest 4Qs DPU = 15.93ct = 4.049ct (Q118) + 3.97ct (Q318) + 3.852ct (Q417) + 4.059ct (Q218) ; DPU Not Paid as Semi-Annual Payout Policy
- FHT : DPU Not Paid as Semi-Annual Payout Policy
- MCT : Above Yield is Computed using last 4Qs DPU : 9.03ct = 2.30ct (Dec17) + 2.24ct (Sep17) + 2.23ct (Jun17) + 2.26ct (Mar17)
- Suntec : Above Yield is Computed Using latest 4Qs DPU = 10.005ct = 2.604ct (Q417) + 2.483ct (Q317) + 2.493ct (Q217) + 2.425ct (Q117)
- CMT : Above Yield Uses Latest 4Qs DPU = 2.73ct (Mar17) + 2.9ct (Dec17) + 2.78ct (Sep17) + 2.75ct (Jun17) = 11.16ct
- MIT : DPU = 2.88ct = 1.89ct (2-Nov-17 to 31-Dec-17) + 0.99ct (1-Oct-17 to 1-Nov-17) Advanced DPU already Paid
- FCT : Above Yield is Computed using last 4Qs DPU : 12.01ct = 3.00ct (Dec17) + 2.97ct (Sep17) + 3.00ct (Jun17) + 3.040ct (Mar17) ; Jun16 DPU Incl. $2.1M Retained in Prior Qs
- MLT : DPU = 2.088ct = 1.907ct (1-Oct-17 to 31-Dec-17) + 0.181ct (22-Sep-17 to 30-Sep-17)
- FCOT : Annualised DPU = 9.52ct
- FirstREIT : Annualised DPU = 8.57ct
- SPHREIT : Above Yield is Computed using last 4Qs DPU = 1.34ct (Nov17) + 1.42ct (Aug17) + 1.37ct (May17) + 1.40ct (Feb17) =5.53ct
- IREIT Global : DPU 100% Hedged @ €1 : S$1.55 for FY17 ; 80% Hedged @ €1 : S$1.63 for FY18
- 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 |
Q4 – Dec17 |
$0.085 |
0.00 |
0.000% |
$0.270 |
Shipping Trust |
NOTES :
- All in US$ except for FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3603 : US$1 fm Yahoo Finance)
- Rickmers : Delisted on 27-Jul-17 9am
- FSL : 30-Jun-12 : 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 – Dec17 |
$0.535 |
0.930 |
6.953% |
$0.290 |
Infrastructure |
| Ascendas-iTrust |
Q3 – Dec17 |
$1.010 |
1.640 |
6.495% |
$0.790 |
India – Industrial Park (7) |
| HPH Trust USD |
2H – Dec17 |
$0.295 |
11.100 |
8.953% |
HK$4.51 |
Ports – HK (38%) + China (62%) by Revenue |
| RHT HealthTrust |
Q3 – Dec17 |
$0.810 |
1.220 |
6.025% |
$0.839 |
India – Healthcare (18) |
| Asian Pay TV Tr |
Q4 – Dec17 |
$0.530 |
1.625 |
12.264% |
$0.830 |
Taiwan PayTV |
| Accordia Golf Tr |
Q3 – Dec17 |
$0.645 |
1.700 |
7.519% |
$0.890 |
Japan Golf Courses – 89 |
| Dasin Retail Tr |
2H – Dec17 |
$0.880 |
4.150 |
9.432% |
$1.530 |
China – Retail (4) |
| NetLink NBN Tr |
FY18 – IPO |
$0.815 |
2.930 |
5.400% |
$0.810 |
Fibre Network Infrastructure |
NOTES :
- IndiaBull : Delisted on 11-Dec-17 9am
- CroesusRT : Delisted on 26-Oct-17
- Accordia : Above Yield Computed Using DPU = 4.85ct = 1.7ct (Q318 – Dec17) + 1.65ct (1H18 – Sep17) + 1.5ct (Q417 – Mar17)
- APTT : Above Yield uses DPU = 6.5ct as FY18 Guidance = 6.5ct ie 1.625ct / Q
- HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7995 : US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun17) = HK9.5ct + 2H (Dec17) = HK11.1ct
- a-iTrust : DPU Not Paid as Semi-Annual Payout Policy
- Dasin : 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
- Religare : FY17 DPU Payout Reduced to 95% from current 100% ; Special DPU = 24.8ct on 28-Oct-16 fm Disposal of 51% in FHTL
- Indiabulls : Halted from 23-Jun-16 as Free Float is Only 3% ; Yield Computed Using 0ct (2H16) + 0.0638ct (1H16)
- 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