August 2017

 
 

Results Announcement

  • 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  

Lippo Malls Tr  

Q2 – Jun17  

$0.435  

0.900 

8.276%

$0.368  

30.60% 

Retail (Indonesia) – 21  

Cache Log Trust  

Q2 – Jun17  

$0.875  

1.8000 

8.251% 

$0.770  

43.40% 

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

SoilbuildBizREIT  

Q2 – Jun17  

$0.730  

1.4660 

8.033% 

$0.720

37.90% 

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

EC World Reit  

Q2 – Jun17  

$0.775  

1.5400 

7.948% 

$0.900  

29.20% 

Port, Warehouse & e-Commerce Infrastructure in China  

Viva Ind Tr  

Q2 – Jun17  

$0.945  

1.861 

7.898% 

$0.790  

39.10%

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

AIMSAMP Cap Reit  

Q1 – Jun17  

$1.405  

2.5000 

7.687% 

$1.386  

36.30% 

Industrial (27) : Singapore + Australia  

IREIT Global  

1H – Jun17  

$0.765

2.8900 

7.556% 

$0.676  

41.30% 

Offices : Germany (5)  

BHG Retail Reit  

1H – Jun17  

$0.750  

1.3500 

7.200% 

$0.830  

32.40% 

Retail (China) – 5  

Frasers Com Tr  

Q3 – Jun17  

$1.395  

2.398 

6.896% 

$1.520  

35.90% 

Singapore (52.7%) + Australia (47.3%) by NPI

ESR-REIT  

Q2 – Jun17  

$0.555  

0.9560 

6.890% 

$0.633  

37.90% 

Industrial (49)  

OUE Htrust  

Q2 – Jun17  

$0.760  

1.2100 

6.842% 

$0.760  

38.20% 

Hotel (78%) + Retail (22%) by NPI  

Ascendas-hTrust  

Q1 – Jun17  

$0.835  

1.3100 

6.826% 

$0.890  

32.70% 

Hotels (11) : Australia (48%) + Japan (27%) + Singapore (14%) + China (10%) by NPI

OUE Com Reit  

1H – Jun17  

$0.715  

2.380 

6.825% 

$0.860  

36.40% 

Office (83.1%) + Retail (16.9%) ; Singapore (80.4%) + China (19.6%) by Revenue  

Sabana REIT  

Q2 – Jun17

$0.480  

0.8100 

6.771% 

$0.560  

37.00% 

Industrial (21)  

ManulifeREIT USD  

1H – Jun17  

$0.965  

3.2300 

6.694% 

$0.840  

30.40% 

Offices : USA (3)  

FHT  

Q3 – Jun17  

$0.745  

1.2374 

6.644% 

$0.749  

34.10% 

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

Ascott Reit  

1H – Jun17  

$1.175  

3.356 

6.594% 

$1.190  

32.40% 

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

Mapletree GCC Tr  

Q1 – Jun17  

$1.125  

1.8510 

6.526% 

$1.244  

39.40% 

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

First REIT  

Q2 – Jun17  

$1.330  

2.1400 

6.489% 

$1.004  

31.00% 

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

StarhillGbl Reit  

Q4 – Jun17  

$0.745  

1.1800 

6.349% 

$0.910  

35.30% 

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

CapitaR China Tr  

1H – Jun17  

$1.595  

5.360 

6.326% 

$1.520

35.30% 

Retail (China) – 11  

Mapletree Ind Tr  

Q1 – Jun17  

$1.855  

2.9200 

6.296% 

$1.400  

29.80% 

Industrial (86)  

Far East HTrust  

Q2 – Jun17  

$0.660  

0.9700 

6.273% 

$0.897  

32.80% 

Hotels (64.8%) + Commercial (22.3%) + Serviced Apts (12.9%) by Revenue

Frasers L&I Tr  

Q3 – Jun17  

$1.075  

1.7500 

6.189% 

$0.920  

29.30% 

Industrial (Australia) – 54  

Mapletree Log Tr  

Q1 – Jun17  

$1.230  

1.887 

6.137% 

$1.020  

39.00% 

Industrial (127)  

CDL Htrust  

1H – Jun17  

$1.630  

4.1000 

5.920% 

$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  

$2.660  

4.0490 

5.898% 

$2.040  

33.90% 

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

Mapletree Com Tr

Q1 – Jun17  

$1.535  

2.2300 

5.746% 

$1.370  

36.40% 

Retail + Office  

Keppel DC REIT  

1H – Jun17  

$1.285  

3.630 

5.650% 

$0.931  

27.70% 

Data Centres – 12 + 1 (Under Devt)  

Frasers Cpt Tr  

Q3 – Jun17  

$2.110  

3.0000 

5.566% 

$1.920  

30.00%

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

Fortune Reit HKD  

1H – Jun17  

$9.240  

25.5300 

5.526% 

$13.390  

28.40% 

Retail (HK) – 17  

SPHREIT  

Q3 – May17  

$1.000  

1.3700 

5.520% 

$0.940  

25.60% 

Retail (2)  

Suntec Reit  

Q2 – Jun17  

$1.895  

2.493 

5.303% 

$2.094  

36.10% 

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

CapitaCom Trust  

1H – Jun17  

$1.740  

4.5900 

5.276% 

$1.770  

35.20% 

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

CapitaMall Trust  

Q2 – Jun17  

$2.170  

2.750

5.134% 

$1.910  

34.70% 

Retail (16) + Office  

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  

$2.690  

3.320 

4.610% 

$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-Aug-17
  • FE-HTrust : Above Yield is Computed using last 4Qs DPU : 4.14ct = 1.12ct (Dec16) + 1.12ct (Sep16) + 0.97ct (Jun17) + 0.93ct (Mar17)
  • A-HTrust : Above Yield is Computed Using latest 4Qs DPU = 5.7ct = 1.31ct (Q118) + 3.01ct (2H17) + 1.38ct (Q217) ; DPU Not Paid as Semi-Annual Payout Policy
  • OUE C-REIT : Above Yield is Computed using last 4Qs DPU : 5.09ct = 2.38ct (1H17) + 2.5ct (2H16) ; Advanced DPU = 1ct (1-Jan-17 to 16-Mar-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
  • 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

Q2 – Jun17

$0.096

0.00

0.000%

$0.390

Shipping Trust

NOTES :

  • All in US$ except for FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.35 : 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

$0.560

0.930

6.643%

$0.307

Infrastructure

Ascendas-iTrust

Q1 – Jun17

$1.155

1.310

4.537%

$0.810

India – Industrial Park (7)

Indiabulls Trust

2H – Mar17

$0.255

0.000

0.250%

$1.273

India – Office

HPH Trust USD

1H – Jun17

$0.455

9.500

7.368%

HK$4.53

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

RHT HealthTrust

2H – Jun17

$0.860

2.370

5.512%

$0.845

India – Healthcare (18)

Croesus Rtrust

2H – Jun17

$1.155

4.060

6.978%

Y79.63

Japan – Retail (11)

Asian Pay TV Tr

Q2 – Jun17

$0.570

1.625

11.404%

$0.850

Taiwan PayTV

Accordia Golf Tr

Q1 – Jun17

$0.710

2.000

8.761%

$0.890

Japan Golf Courses – 89

Dasin Retail Tr

1H – Jun17

$0.850

3.010

7.082%

$1.490

China – Retail (4)

NetLink NBN Tr

FY18 – IPO

$0.825

2.930

5.335%

$0.864

Fibre Network Infrastructure

NOTES :

  • a-iTrust : DPU Not Paid as Semi-Annual Payout Policy
  • Accordia : Above Yield Computed Using DPU = 6.22ct = 3.59ct (2H17 – Mar17) + 0.73ct (Q217 – Sep16) + 2ct (Q118 – Jun17) ; DPU Not Paid as Semi-Annual Payout Policy
  • CroesusRT : Exchange Rate Y100 = S$1.2308 ; Annualised DPU = 8.06ct ; Hedged Rate – FY17 @ Y83.57 ; FY18 @ Y76.39 ; FY19 @ Y72.72
  • HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7857 : US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun17) = HK9.5ct + 2H (Dec16) = HK16.6ct
  • APTT : Above Yield uses DPU = 6.5ct as FY17 Guidance = 6.5ct ie 1.625ct / Q
  • 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

Month End Prices – 2017

REIT

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

A-HTrust

S$0.705

S$0.735

S$0.755

S$0.780

S$0.780

S$0.780

S$0.825

$0.840

$0.835

A-REIT

S$2.270

S$2.460

S$2.500

S$2.520

S$2.560

S$2.620

S$2.610

S$2.700

S$2.660

AIMSAMPIReit

S$1.310

S$1.360

S$1.355

S$1.385

S$1.395

S$1.420

S$1.480

S$1.440

S$1.405

AscottREIT

S$1.130

S$1.135

S$1.165

S$1.085

S$1.095

S$1.125

S$1.155

S$1.190

S$1.175

BHG REIT

S$0.655

S$0.650

S$0.665

S$0.740

S$0.715

S$0.705

S$0.740

S$0.735

S$0.750

CapitaRChina

S$1.370

S$1.420

S$1.425

S$1.480

S$1.590

S$1.555

S$1.640

S$1.660

S$1.595

CCT

S$1.480

S$1.525

S$1.560

S$1.545

S$1.625

S$1.660

S$1.660

S$1.720

S$1.740

CDL HTrust

S$1.340

S$1.415

S$1.415

S$1.435

S$1.550

S$1.625

S$1.655

S$1.600

S$1.630

CLT

S$0.810

S$0.810

S$0.820

S$0.845

S$0.865

S$0.885

S$0.915

S$0.885

S$0.875

CMT

S$1.885

S$1.940

S$1.970

S$1.970

S$1.970

S$1.990

S$1.975

S$2.010

S$2.170

EC World

S$0.760

S$0.710

S$0.740

S$0.755

S$0.760

S$0.785

S$0.810

S$0.775

S$0.775

ESR-REIT

S$0.540

S$0.565

S$0.575

S$0.580

S$0.585

S$0.575

S$0.590

S$0.565

S$0.555

FE-HTrust

S$0.600

S$0.600

S$0.585

S$0.600

S$0.600

S$0.635

S$0.670

S$0.670

S$0.660

FHT

S$0.650

S$0.665

S$0.685

S$0.710

S$0.730

S$0.710

S$0.725

S$0.740

S$0.745

First REIT

S$1.265

S$1.270

S$1.285

S$1.310

S$1.350

S$1.320

S$1.340

S$1.350

S$1.330

FLT

S$0.925

S$0.940

S$0.975

S$0.985

S$1.010

S$1.005

S$1.080

S$1.095

S$1.075

Fortune

HK$8.610

HK$9.020

HK$8.610

HK$8.700

HK$9.060

HK$9.360

HK$9.480

HK$9.720

HK$9.240

FrasersComm

S$1.260

S$1.255

S$1.270

S$1.280

S$1.340

S$1.390

S$1.425

S$1.400

S$1.395

FrasersCT

S$1.900

S$2.000

S$2.000

S$2.110

S$2.110

S$2.120

S$2.140

S$2.100

S$2.110

IREIT Global

S$0.715

S$0.735

S$0.755

S$0.725

S$0.745

S$0.750

S$0.760

S$0.790

S$0.765

Keppel DC REIT

S$1.020

S$1.010

S$1.035

S$1.050

S$1.060

S$1.105

S$1.145

S$1.160

S$1.160

Keppel REIT

S$1.185

S$1.195

S$1.180

S$1.200

S$1.240

S$1.295

S$1.290

S$1.280

S$1.285

LMIR

S$0.370

S$0.390

S$0.390

S$0.395

S$0.425

S$0.415

S$0.445

S$0.460

S$0.435

Manulife

S$0.825

S$0.855

S$0.840

S$0.840

S$0.840

S$0.875

S$0.900

S$0.920

S$0.965

MCT

S$1.395

S$1.530

S$1.500

S$1.530

S$1.595

S$1.545

S$1.595

S$1.605

S$1.535

MGCT

S$0.950

S$0.955

S$0.985

S$1.020

S$1.070

S$1.065

S$1.080

S$1.110

S$1.125

MIT

S$1.645

S$1.645

S$1.665

S$1.780

S$1.790

S$1.825

S$1.860

S$1.855

S$1.855

MLT

S$1.020

S$1.050

S$1.075

S$1.095

S$1.130

S$1.170

S$1.195

S$1.200

S$1.230

OUE C-REIT

S$0.695

S$0.700

S$0.700

S$0.705

S$0.700

S$0.700

S$0.715

S$0.730

S$0.715

OUE H-Trust

S$0.660

S$0.695

S$0.695

S$0.690

S$0.720

S$0.710

S$0.745

S$0.755

S$0.760

PLife

S$2.360

S$2.430

S$2.430

S$2.520

S$2.560

S$2.620

S$2.680

S$2.710

S$2.690

Sabana

S$0.380

S$0.385

S$0.435

S$0.505

S$0.455

S$0.420

S$0.465

S$0.450

S$0.480

Saizen

S$0.051

S$0.051

S$0.051

S$0.026

S$0.035

S$0.033

S$0.033

S$0.033

S$0.033

SB REIT

S$0.640

S$0.635

S$0.645

S$0.675

S$0.665

S$0.685

S$0.720

S$0.710

S$0.730

SPH REIT

S$0.950

S$0.970

S$0.970

S$0.980

S$0.985

S$1.000

S$1.000

S$1.000

S$1.000

StarHill Gbl

S$0.740

S$0.765

S$0.740

S$0.755

S$0.770

S$0.775

S$0.780

S$0.780

S$0.745

Suntec

S$1.650

S$1.730

S$1.730

S$1.790

S$1.770

S$1.835

S$1.870

S$1.900

S$1.895

VIT

S$0.755

S$0.765

S$0.765

S$0.795

S$0.815

S$0.840

S$0.885

S$0.925

S$0.945