Performance – July 2017

STI +15.58% : 3329.52 (Jul-17) vs 2880.76 (Dec-16)

Rank – Capital Gains

REIT

Jul-17

Dec-16

Gain

Lippo Malls Tr

$ 0.460

$ 0.370

24.3%

VIT

$ 0.925

$ 0.755

22.5%

CapitaRChina

$ 1.660

$ 1.370

21.2%

CDL Htrust

$ 1.600

$ 1.340

19.4%

A-HTrust

$ 0.840

$ 0.705

19.1%

Ascendasreit

$ 2.700

$ 2.270

18.9%

Sabana

$ 0.450

$ 0.380

18.4%

Fraser LT

$ 1.095

$ 0.925

18.4%

MapletreeLog

$ 1.200

$ 1.020

17.6%

Mapletree GCC Tr

$ 1.110

$ 0.950

16.8%

CapitaComm

$ 1.720

$ 1.480

16.2%

SuntecReit

$ 1.900

$ 1.650

15.2%

MCT

$ 1.605

$ 1.395

15.1%

ParkwayLife Reit

$ 2.710

$ 2.360

14.8%

OUE H-Trust

$ 0.755

$ 0.660

14.4%

Frasers Htrust

$ 0.740

$ 0.650

13.8%

K-REIT

$ 1.160

$ 1.020

13.7%

Fortune Reit HK$

$ 9.720

$ 8.610

12.9%

MIT

$ 1.855

$ 1.645

12.8%

BHG REIT

$ 0.735

$ 0.655

12.2%

FE-HTrust

$ 0.670

$ 0.600

11.7%

Manulife

$ 0.920

$ 0.825

11.5%

FrasersComm

$ 1.400

$ 1.260

11.1%

SB REIT

$ 0.710

$ 0.640

10.9%

FrasersCT

$ 2.100

$ 1.900

10.5%

IREIT Global

$ 0.790

$ 0.715

10.5%

AIMSAMP Cap Reit

$ 1.440

$ 1.310

9.9%

CLT

$ 0.885

$ 0.810

9.3%

Keppel DC REIT

$ 1.280

$ 1.185

8.0%

First REIT

$ 1.350

$ 1.265

6.7%

CapitaMall

$ 2.010

$ 1.885

6.6%

StarhillGbl Reit

$ 0.780

$ 0.740

5.4%

AscottREIT

$ 1.190

$ 1.130

5.3%

SPHREIT

$ 1.000

$ 0.950

5.3%

OUE C-REIT

$ 0.730

$ 0.695

5.0%

ESR-REIT

$ 0.565

$ 0.540

4.6%

EC World

$ 0.775

$ 0.760

2.0%

NOTES :

  • Not Adjusted for Rights or New Issues Which May Be at a Discount
  • Jul-17 : End Jul-17 Mkt Price
  • Dec-16 : End Dec-16 Mkt Price
  • Gain : Capital Gains = (Jul-17 Mkt Price – Dec-16 Mkt Price) / (Dec-16 Mkt Price)

July 2017

Results Announcement

 

  • 12 Jul 17 : SPH REIT (Updated)
  • 13 Jul 17 : ESR-REIT (Updated)
  • 13 Jul 17 : SB-REIT (Updated)
  • 17 Jul 17 : KIT (Updated)
  • 17 Jul 17 : Keppel DC REIT (Updated)
  • 17 Jul 17 : FirstREIT (Updated)
  • 18 Jul 17 : KeppelREIT (Updated)
  • 19 Jul 17 (AM) : CCT (Updated)
  • 19 Jul 17 : HPH-Trust (Updated)
  • 20 Jul 17 (AM) : AscottREIT (Updated)
  • 20 Jul 17 (AM) : CMT (Updated)
  • 21 Jul 17 : CLT (Updated)
  • 24 Jul 17 : FCT (Updated)
  • 24 Jul 17 : FCOT (Updated)
  • 24 Jul 17 : MLT (Updated)
  • 24 Jul 17 : a-iTrust
  • 25 Jul 17 (AM) : PLife (Updated)
  • 25 Jul 17 : MIT (Updated)
  • 25 Jul 17 : Sabana (Updated)
  • 26 Jul 17 (AM) : Suntec (Updated)
  • 26 Jul 17 (AM) : VIT (Updated)
  • 27 Jul 17 (AM) : CRCT (Updated)
  • 27 Jul 17 (AM) : AIMSAMPReit (Updated)
  • 27 Jul 17 : MCT (Updated)
  • 27 Jul 17 : FHT (Updated)
  • 27 Jul 17 : A-REIT (Updated)
  • 28 Jul 17 (AM) : CDL H-Trust (Updated)
  • 28 Jul 17 (AM) : Fortune (Updated)
  • 28 Jul 17 : MGCCT (Updated)
  • 28 Jul 17 : FLT (Updated)
  • 28 Jul 17 : Starhill (Updated)
  • 1 Aug 17 : OUE H-Trust
  • 2 Aug 17 : OUE C-REIT
  • 3 Aug 17 : A-HTrust
  • 3 Aug 17 : EC World
  • 3 Aug 17 : LMIR
  • 3 Aug 17 : RHT
  • 3 Aug 17 : FSL
  • 4 Aug 17 (AM) : FE-HTrust
  • 8 Aug 17 (AM) : Manulife
  • 8 Aug 17 : BHG REIT
  • 10 Aug 17 : IREIT
  • 14 Aug 17 (AM) : APTT
  • 14 Aug 17 : Accordia
  • 18 Aug 17 (AM) : CRT


REITs : Average Yield = 6.475% (Excludes Saizen)

REIT

Period

Mkt

DPU cts

Yield

NAV

Gearing

Assets Type

SoilbuildBizREIT

Q2 – Jun17

$0.710

1.4660

8.259%

$0.720

37.90%

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

Q2 – Jun17

$0.885

1.8000

8.158%

$0.770

43.40%

Industrial (19) : Singapore (83%) + Australia (16%) + China (1%) by Gross Revenue
Viva Ind Tr

Q2 – Jun17

$0.925

1.861

8.069%

$0.790

39.10%

Industrial (9) : Biz Park (50.4%) + Light Industrial (23.4%) + Logistics (15.4%) + Hotel (10.8%) by NPI
EC World Reit

Q1 – Mar17

$0.775

1.5410

8.065%

$0.900

28.60%

Port, Warehouse & e-Commerce Infrastructure in China
Lippo Malls Tr

Q1 – Mar17

$0.460

0.890

7.739%

$0.374

32.20%

Retail (Indonesia) – 20
BHG Retail Reit

Q1 – Mar17

$0.735

1.3900

7.565%

$0.820

32.50%

Retail (China) – 5
AIMSAMP Cap Reit

Q1 – Jun17

$1.440

2.500

7.500%

$1.386

36.30%

Industrial (27) : Singapore + Australia
IREIT Global

Q1 – Mar17

$0.790

1.4400

7.291%

$0.672

42.10%

Offices : Germany (5)
Sabana REIT

Q2 – Jun17

$0.450

0.810

7.222%

$0.560

37.00%

Industrial (21)
ManulifeREIT USD

Q1 – Mar17

$0.920

1.6500

7.174%

$0.830

34.20%

Offices : USA (3)
OUE Com Reit

Q1 – Mar17

$0.730

1.230

6.973%

$0.860

36.20%

Office (82.6%) + Retail (17.4%) ; Singapore (79.9%) + China (20.1%) by Revenue
OUE Htrust

Q1 – Mar17

$0.755

1.3000

6.887%

$0.760

38.10%

Hotel (78%) + Retail (22%) by NPI
Frasers Com Tr

Q3 – Jun17

$1.400

2.398

6.871%

$1.520

35.90%

Singapore (52.7%) + Australia (47.3%) by NPI
ESR-REIT

Q2 – Jun17

$0.565

0.9560

6.768%

$0.633

37.90%

Industrial (49)
Ascendas-hTrust

2H – Mar17

$0.840

3.010

6.762%

$0.920

32.20%

Hotels (11) : Australia (51%) + Japan (29%) + Singapore (14%) + China (6%) by NPI
FHT

Q3 – Jun17

$0.740

1.2374

6.689%

$0.749

34.10%

Hotel (9) + Serviced Apt (6) : Australia (38%) + Singapore (20%) + UK (17%) + Japan (14%) + Malaysia (6%) + Germany (5%) by NPI
Mapletree GCC Tr

Q1 – Jun17

$1.110

1.851

6.614%

$1.244

39.40%

Retail + Office : HK (69.4%) + China (30.6%) by NPI ; Retail (62%) + Office (36.5%) by NPI
Ascott Reit

1H – Jun17

$1.190

3.3560

6.511%

$1.190

32.40%

Serviced Apts (73) : Asia Pacific (61.6%) + Europe (28.4%) + US (10%) by Assets
First REIT

Q2 – Jun17

$1.350

2.140

6.393%

$1.004

31.00%

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

Q1 – Jun17

$1.855

2.9200

6.296%

$1.400

29.80%

Industrial (86)
Mapletree Log Tr

Q1 – Jun17

$1.200

1.887

6.290%

$1.020

39.00%

Industrial (127)
Far East HTrust

Q1 – Mar17

$0.670

0.9300

6.239%

$0.903

32.30%

Hotels (65.2%) + Commercial (23.1%) + Serviced Apts (11.7%) by Revenue
CapitaR China Tr

1H – Jun17

$1.660

5.360

6.078%

$1.520

35.30%

Retail (China) – 11
Frasers L&I Tr

Q3 – Jun17

$1.095

1.7500

6.076%

$0.920

29.30%

Industrial (Australia) – 54
StarhillGbl Reit

Q4 – Jun17

$0.780

1.180

6.064%

$0.910

35.30%

Retail + Office : Singapore (62.5%) + Australia (23.0%) + Malaysia (12.5%) + Others (2.0%) by Revenue
CDL Htrust

1H – Jun17

$1.600

4.1000

6.031%

$1.545

38.70%

Hotels : Singapore (58.1%) + Australia (10.2%) + Maldives (7.6%) + NZ (14.2%) + UK (6.1%) + Japan (3.7%) by NPI
Ascendas Reit

Q1 – Jun17

$2.700

4.049

5.811%

$2.040

33.90%

Industrial (132) : Singapore (86%) + Australia (14%) by Valuation
Keppel DC REIT

1H – Jun17

$1.280

3.6300

5.672%

$0.931

27.70%

Data Centres – 12 + 1 (Under Devt)
Frasers Cpt Tr

Q3 – Jun17

$2.100

3.000

5.593%

$1.920

30.00%

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

Q2 – Jun17

$2.010

2.7500

5.542%

$1.910

34.70%

Retail (16) + Office
SPHREIT

Q3 – May17

$1.000

1.370

5.520%

$0.940

25.60%

Retail (2)
Mapletree Com Tr

Q1 – Jun17

$1.605

2.2300

5.495%

$1.370

36.40%

Retail + Office
CapitaCom Trust

1H – Jun17

$1.720

4.590

5.337%

$1.770

35.20%

Office (73%) + Retail (16%) + Hotel (11%) by Gross Rental Income
Suntec Reit

Q2 – Jun17

$1.900

2.4930

5.289%

$2.094

36.10%

Office (69%) + Retail (28%) + Convention (3%) by Income
Fortune Reit HKD

1H – Jun17

$9.720

25.530

5.253%

$13.390

28.40%

Retail (HK) – 17
Keppel Reit

Q2 – Jun17

$1.160

1.4200

4.897%

$1.400

38.50%

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

Q2 – Jun17

$2.710

3.320

4.576%

$1.680

37.40%

Hospitals + Nursing Homes = 49 : Singapore 60% + Japan 40% by Gross Revenue
Saizen REIT

2H – Jun15

$0.033

2.930

0.000%

$1.210

35.00%

Residential (Japan) – 136

NOTES :

  • Mkt Price is as on 31-JuL-17
  • FLT : Advanced DPU = 1.75ct (1-Apr-17 to 5-Jul-17)
  • YTL StarHill : Above Yield is Computed using last 4Qs DPU : 4.92ct = 1.26ct (Dec16) + 1.30ct (Sep16) + 1. 18ct (Jun17) + 1.18ct (Mar17)
  • MGCCT : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield is Computed Using latest 4Qs DPU : 7.342ct = 1.851ct (Q117) + 3.731ct (2H17) + 1.76ct (Q216)
  • CDL H-Trust :Above Yield is Computed using last 4Qs DPU : 10.2ct = 4.1ct (1H17) + 5.55ct (2H16)
  • A-REIT : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield is Computed Using latest 4Qs DPU = 15.689ct = 4.049ct (Q118) + 3.993ct (Q317) + 3.852ct (Q417) + 3.795ct (Q217)
  • MCT : Above Yield is Computed using last 4Qs DPU : 8.82ct = 2.28ct (Dec16) + 2.05ct (Sep16) + 2.23ct (Jun17) + 2.26ct (Mar17)
  • FHT : DPU Not Paid as Semi-Annual Payout Policy
  • CRCT : Above Yield Uses Latest 4Qs DPU = 4.73ct (2H16) + 5.36ct (1H17) = 10.09ct
  • AIMSAMPReit : Above Yield is Computed using last 4Qs DPU : 10.08ct = 2.77ct (Dec16) + 2.75ct (Sep16) + 2.5ct (Jun17) + 2.78ct (Mar17)
  • Suntec : Above Yield is Computed Using latest 4Qs DPU = 10.049ct = 2.596ct (Q416) + 2.535ct (Q316) + 2.493ct (Q217) + 2.425ct (Q117)
  • VIT : Annualised DPU = 7.464ct
  • Sabana : Annualised DPU = 3.25ct
  • AscottREIT : Above Yield Uses Latest 4Qs DPU = 4.392ct (2H16) + 3.356ct (1H17) = 7.748ct
  • FCOT : Annualised DPU = 9.62ct
  • CLT : Annualised DPU = 7.22ct
  • CMT : Above Yield Uses Latest 4Qs DPU = 2.73ct (Mar17) + 2.88ct (Dec16) + 2.78ct (Sep16) + 2.75ct (Jun17) = 11.14ct
  • PLife : Above Yield is Computed Using Recurring DPU = 3.10ct ie Excl. 0.22ct Divestment Gain (2nd of 4 Tranches)
  • FCT : Above Yield is Computed using last 4Qs DPU : 11.745ct = 2.89ct (Dec16) + 2.815ct (Sep16) + 3.00ct (Jun17) + 3.040ct (Mar17) ; Jun16 DPU Incl. $2.1M Retained in Prior Qs
  • FirstREIT : Annualised DPU = 8.63ct
  • ESR REIT : Annualised DPU = 3.824ct
  • SPHREIT : Above Yield is Computed using last 4Qs DPU = 1.34ct (Nov16) + 1.41ct (Aug16) + 1.37ct (May17) + 1.40ct (Feb17) =5.52ct
  • FE-HTrust : Above Yield is Computed using last 4Qs DPU : 4.18ct = 1.12ct (Dec16) + 1.12ct (Sep16) + 1.01ct (Jun16) + 0.93ct (Mar17)
  • A-HTrust : Above Yield is Computed Using latest 4Qs DPU = 5.68ct = 3.01ct (2H17) + 2.67ct (1H17)
  • IREIT Global : DPU Not Paid as Semi-Annual Payout Policy
  • EC World : Annualised DPU = 6.25ct
  • OUE C-REIT : Above Yield is Computed using last 4Qs DPU : 5.09ct = 1.23ct (Q117) + 2.5ct (2H16) + 1.36ct (Q216) ; Advanced DPU = 1ct (1-Jan-17 to 16-Mar-17)
  • Manulife REIT : DPU Not Paid as Semi-Annual Payout Policy
  • IREIT Global : DPU 100% Hedged @ €1 : S$1.55 for FY17
  • 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

Q1 – Mar17

$0.077

0.00

0.000%

$0.390

Shipping Trust

NOTES :

  • All in US$ except for FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3568 : 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

Q2 – Jun17

$0.550

0.930

6.764%

$0.307

Infrastructure
Ascendas-iTrust

2H – Mar17

$1.150

2.960

5.148%

$0.810

India – Industrial Park (7)
Indiabulls Trust

2H – Mar16

$0.255

0.000

0.250%

$1.710

India – Office
HPH Trust USD

1H – Jun17

$0.475

9.500

7.035%

HK$4.53

Ports – HK (38%) + China (62%) by Revenue
RHT HealthTrust

Q3 – Dec16

$0.890

1.250

5.618%

$0.838

India – Healthcare (18)
Croesus Rtrust

Q3 – Mar17

$1.190

2.050

6.983%

Y76.43

Japan – Retail (11)
Asian Pay TV Tr

Q1 – Mar17

$0.575

1.625

11.304%

$0.870

Taiwan PayTV
Accordia Golf Tr

2H – Mar17

$0.705

3.590

8.567%

$0.910

Japan Golf Courses – 89
Dasin Retail Tr

FY17 – IPO

$0.800

6.800

8.500%

$1.023

China – Retail
NetLink NBN Tr

FY18 – IPO

$0.815

2.930

5.400%

$0.864

Fibre Network Infrastructure

NOTES :

  • HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.8105 : US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun17) = HK9.5ct + 2H (Dec16) = HK16.6ct
  • CroesusRT : Exchange Rate Y100 = S$1.2288 ; Annualised DPU = 8.31ct ; Hedged Rate – FY17 @ Y83.57 ; FY18 @ Y76.39 ; FY19 @ Y72.72
  • APTT : Above Yield uses DPU = 6.5ct as FY17 Guidance = 6.5ct ie 1.625ct / Q
  • RHT : 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
  • 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)
  • 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