December 2014
REITs : Average Yield = 6.526%
|
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
|
Viva Ind Tr |
Q3 – Sep14 |
1.687 |
$0.795 |
8.419% |
$0.748 |
45.70% |
Biz Park (77.6%) + Hotel (18.6%) + Logistics (3.8%) by Valuation |
|
Lippo Malls Tr |
Q3 – Sep14 |
0.690 |
$0.340 |
8.118% |
$0.415 |
28.30% |
Retail (Indonesia) – 16 |
|
AIMSAMP Cap Reit |
Q2 – Sep14 |
2.770 |
$1.415 |
7.830% |
$1.523 |
32.20% |
Industrial (26) |
|
SoilbuildBizREIT |
Q3 – Sep14 |
1.546 |
$0.790 |
7.828% |
$0.800 |
30.30% |
Business Park (2) + Industrial (6) |
|
Sabana REIT |
Q3 – Sep14 |
1.810 |
$0.940 |
7.638% |
$1.060 |
37.00% |
Industrial (22) |
|
IREIT Global |
FY14 – IPO |
3.330 |
$0.890 |
7.483% |
$0.780 |
33.20% |
Offices : Germany |
|
Ascendas-hTrust |
1H – Sep14 |
2.507 |
$0.680 |
7.374% |
$0.730 |
38.30% |
Hotels (12) : Australia (56%) + Singapore (20%) + Japan (15%) + China (9%) by NPI |
|
Cache Log Trust |
Q3 – Sep14 |
2.140 |
$1.160 |
7.319% |
$0.970 |
35.00% |
Industrial : Singapore (14) + Shanghai (1) |
|
Cambridge Ind Tr |
Q3 – Sep14 |
1.250 |
$0.680 |
7.293% |
$0.684 |
33.90% |
Industrial (49) |
|
OUE Htrust |
Q3 – Sep14 |
1.640 |
$0.905 |
7.249% |
$0.900 |
32.70% |
Hotel (69%) + Retail (31%) by Asset |
|
Saizen REIT |
2H – Jun14 |
3.100 |
$0.860 |
7.209% |
$1.140 |
38.00% |
Residential (Japan) – 137 |
|
Mapletree Ind Tr |
Q2 – Sep14 |
2.600 |
$1.485 |
7.003% |
$1.200 |
33.10% |
Industrial (85) |
|
OUE COMMERCIAL REIT |
Q3 – Sep14 |
1.400 |
$0.805 |
6.957% |
$1.050 |
39.80% |
Retail (10.9%) + Office (89.1%) by Revenue |
|
FHT |
FY14 – IPO |
3.040 |
$0.890 |
6.813% |
$0.830 |
41.70% |
Hotel (60.7%) + Serviced Apt (39.3%) |
|
Ascott Reit |
Q3 – Sep14 |
2.110 |
$1.270 |
6.646% |
$1.350 |
40.00% |
Serviced Apts (86) : AsiaPacific (65.7%) + Europe (34.3%) by Valuation |
|
Mapletree GCC Tr |
1H – Sep14 |
3.162 |
$0.950 |
6.638% |
$1.042 |
37.70% |
Retail + Office (China + HK) |
|
Keppel DC REIT |
FY15 – IPO |
6.360 |
$0.975 |
6.523% |
$0.870 |
27.80% |
Data Centres – 8 |
|
Far East HTrust |
Q3 – Sep14 |
1.320 |
$0.815 |
6.479% |
$0.976 |
31.40% |
Hotels (66.5%) + Serviced Apts (14.7%) + Commercial (18.8%) by Revenue |
|
First REIT |
Q3 – Sep14 |
2.020 |
$1.255 |
6.414% |
$0.970 |
32.90% |
Hospitals (10) + Hotel (Indonesia – 1) + Nursing Home (Singapore – 3) |
|
Mapletree Log Tr |
Q2 – Sep14 |
1.880 |
$1.185 |
6.346% |
$0.950 |
33.30% |
Industrial (113) |
|
StarhillGbl Reit |
Q3 – Sep14 |
1.270 |
$0.800 |
6.300% |
$0.920 |
29.10% |
Retail (86.4%) + Office (13.0%) by Revenue |
|
Frasers Com Tr |
Q4 – Sep14 |
2.215 |
$1.415 |
6.198% |
$1.590 |
37.10% |
Office + Retail (4) |
|
Ascendas Reit |
1H – Sep14 |
7.300 |
$2.380 |
6.134% |
$2.070 |
32.60% |
Industrial : Singapore (104) + China (2) |
|
Keppel Reit |
Q3 – Sep14 |
1.850 |
$1.220 |
6.016% |
$1.390 |
42.10% |
Offices : Singapore (5) + Australia (5) |
|
CDL Htrust |
Q3 – Sep14 |
2.610 |
$1.740 |
5.954% |
$1.600 |
30.20% |
Hotels : Singapore (77.1%) + Australia (10.5%) + NZ (4.5%) + Maldives (7.9%) by Valuation |
|
Frasers Cpt Tr |
Q4 – Sep14 |
2.785 |
$1.895 |
5.903% |
$1.850 |
29.30% |
Retail (6) + 31.17% of Hektar (MREIT) |
|
CapitaR China Tr |
Q3 – Sep14 |
2.350 |
$1.615 |
5.771% |
$1.470 |
30.80% |
Retail (China) – 10 |
|
Mapletree Com Tr |
Q2 – Sep14 |
1.970 |
$1.410 |
5.589% |
$1.160 |
38.00% |
Retail + Office |
|
Fortune Reit HKD |
1H – Jun14 |
20.880 |
$7.760 |
5.381% |
$10.990 |
31.20% |
Retail (HK) – 17 |
|
SPHREIT |
Q4 – Aug14 |
1.390 |
$1.040 |
5.346% |
$0.930 |
26.00% |
Retail (2) |
|
CapitaMall Trust |
Q3 – Sep14 |
2.720 |
$2.040 |
5.289% |
$1.760 |
34.10% |
Retail (16) + Office |
|
ParkwayLife Reit |
Q3 – Sep14 |
2.900 |
$2.380 |
4.874% |
$1.600 |
34.60% |
Hospitals + Nursing Homes = 47 |
|
CapitaCom Trust |
Q3 – Sep14 |
2.100 |
$1.755 |
4.786% |
$1.670 |
30.20% |
Office (66%) + Retail (20%) + Hotel (14%) by Gross Rental Income |
|
Suntec Reit |
Q3 – Sep14 |
2.328 |
$1.960 |
4.758% |
$2.033 |
34.40% |
Retail + Office |
NOTES :
- Mkt Price is as on 31-Dec-14
- 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
- FortuneREIT : DPU Not Paid as Semi-Annual Payout Policy
- Saizen : DPU Not Paid as Semi-Annual Payout Policy
- AscottREIT : DPU Not Paid as Semi-Annual Payout Policy
- OUE C-Trust : DPU Not Paid as Semi-Annual Payout Policy
- CDL H-Trust : DPU Annualised DPU = 10.36ct ; DPU Not Paid as Semi-Annual Payout Policy
- CRCT : Annualised DPU = 9.32ct ; DPU Not Paid as Semi-Annual Payout Policy
- MGCCT : Annualised DPU = 6.306ct
- FCT : Above Yield is Computed using last 4Qs DPU = 11.187ct ie 2.5ct (Dec13) + 2.785ct (Sep14) + 3.022ct (Jun14) + 2.88ct (Mar14)
- CLT : Annualised DPU = 8.49ct
- Cambridge : Annualised DPU = 4.959ct
- SB REIT : Annualised DPU = 6.184ct
- Suntec : Annualised DPU = 9.326ct ; Includes Capital = 0.04ct
- VIT : Annualised DPU = 6.693ct
- FCOT : Annualised DPU = 8.77ct
- FirstREIT : Annualised DPU = 8.05ct
- CMT : Annualised DPU = 10.79ct
- Sabana : Annualised DPU = 7.18ct
- A-HTrust : DPU Not Paid as Semi-Annual Payout Policy
- 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
- StarHill Global : Annualised DPU = 5.01ct
- A-REIT : DPU Semi-Annual Payout Policy fm FY15(Mar)
- Keppel REIT : Annualised DPU = 7.62ct
- FHT : IPO Prospectus ; DPU : FY14 (1-Apr-14 to 30-Sep-14) = 3.04ct / 2.86ct if Exclude Top Up ; FY15 = 6.16ct (5.72ct if Exclude) ; Gearing = 41.7% ; NAV = $0.83 ; Listing on 14-Jul-14 2pm @ $0.88
- PLife : Annualised DPU = 11.28ct
- OUE C-REIT : IPO Prospectus ; DPU : FY14 = 5.44ct / 4.45ct if Exclude Income Support ; FY15 = 5.51ct (4.6ct if Exclude) ; Gearing = 42.3% ; NAV = $1.043 ; Listing on 27-Jan-14 2pm @ $0.88
- Saizen : 5-to-1 Unit Consolidation on 5-Nov-13
- Viva Industrial Trust : IPO Prospectus ; DPU : FY13 = 3.42ct (1-Jul-13 to 31-Dec-13) / 2.23ct if Exclude Income Support ; FY14 = 6.87ct (4.79ct if Exclude) ; FY15 = 7.03ct (5.19ct if Exclude) ; Gearing = 40.2% ; NAV = $0.74 ; Listing on 4-Nov-13 2pm @ $0.78
- MLT : Includes 0.2ct Divestment Gain for 8 Qs from Q114 (Jun13)
- SoilBuild Business Space REIT : IPO Prospectus ; DPU : FY13 = 4.37ct (1-Apr-13 to 31-Dec-13) / FY14 = 5.97ct ; Yield : FY13 = 7.47% / FY14 = 7.654% ; Gearing = 29.9% ; NAV = $0.80 ; Listing on 16-Aug-13 2pm @ $0.78
- OUE H-Trust : IPO Prospectus ; DPU : FY13 = 4.77ct (1-Apr-13 to 31-Dec-13) / FY14 = 6.57ct ; Yield : FY13 = 7.194% / FY14 = 7.466% ; Gearing = 33.2% ; NAV = $0.903 ; Listing on 25-Jul-13 2pm @ $0.78
- SPH REIT : IPO Prospectus ; DPU : FY13 (Aug) = 2.51ct (1-Mar-13 to 31-Aug-13) / FY14 (Aug) = 5.21ct ; Yield : FY13 = 5.578% / FY14 = 5.789% ; Gearing = 27.3% ; NAV = $0.88 ; Listing on 24-Jul-13 2pm @ $0.90
- MGCT : IPO Prospectus ; DPU : FY14 (Mar) = 5.24ct / FY15 (Mar) = 5.69ct ; Yield : FY14 = 5.634% / FY15 = 6.118% ; Gearing = 43% ; NAV = $0.91 ; Listing on 7-Mar-13 2pm @ $0.93
Shipping Trusts (non-REITs)
|
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
|
FSL Trust |
Q3 – Sep14 |
0 |
$0.102 |
0.000% |
$0.400 |
Shipping Trust |
|
RickmersMaritime |
Q3 – Sep14 |
0.6 |
$0.280 |
11.322% |
$0.580 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3209:US$1 fm Yahoo Finance)
- Rickmers : 23% Payout
- 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 |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
|
CitySpring Trust |
Q2 – Sep14 |
0.82 |
$0.530 |
6.189% |
$0.192 |
Infrastructure – Water + Gas + Power |
|
Keppel Infra Tr |
1H – Jun14 |
7.82 |
$1.065 |
7.343% |
$0.930 |
Energy (Incineration) + Water (NEWater) |
|
Ascendas-iTrust |
1H – Sep14 |
2.4 |
$0.820 |
5.854% |
$0.620 |
India – Industrial Park |
|
Indiabulls Trust |
2H – Mar14 |
0.0162 |
$0.106 |
0.298% |
$0.341 |
India – Office |
|
HPH Trust USD |
2H – Dec13 |
22.3 |
$0.690 |
7.662% |
HK$7.23 |
Ports – HK + China |
|
Forterra Trust |
1H – Jun14 |
— |
$2.240 |
0.000% |
$3.840 |
China – Retail + Office + Industrial |
|
Perennial CRT |
Q3 – Sep14 |
0.95 |
$0.535 |
7.047% |
$0.750 |
China Retail |
|
Religare Htrust |
1H – Sep14 |
3.61 |
$1.000 |
7.220% |
$0.867 |
India – Healthcare |
|
Croesus Rtrust |
Q1 – Sep14 |
2.08 |
$0.925 |
8.919% |
Y72.57 |
Japan – Retail (7) |
|
Asian Pay TV Tr |
1H – Jun14 |
4.12 |
$0.860 |
9.593% |
$0.900 |
Taiwan PayTV |
|
Accordia Golf Tr |
FY15 (Mar) – IPO |
6.8 |
$0.750 |
9.067% |
$0.921 |
Japan Golf Courses – 89 |
NOTES :
- CroesusRT : Exchange Rate Y100 = S$1.1046 ; Annualised DPU = 8.25ct
- APTT : Above Yield uses DPU = 8.25ct ie 1H14 = 4.12ct + 2H13 = 4.13ct ; Quarterly DPU Payout from Q314 ; Q314 = 2ct ; Reaffirmed Q414 = 2.13ct
- PCRT : Annualised Yield = 3.77ct ; Semi-Annual Dividend Payout Policy but will pay Q3 due to Conditional Offer by St James (now known as Perennial Real Estates Hldgs)
- a-iTrust : Above DPU is based on 90% Payout
- Accordia Golf Trust : IPO Prospectus ; DPU : FY15 (1-Aug-14 to 31-Mar-15) = 6.2ct / Annualised = 6.8ct (Excl. Non-Recurring) – Used in Above Yield Computation or 8.8ct (Incl Non-Recurring) ; Gearing & NAV Computed Using IPO Prospectus Figures ; Listing on 1-Aug-14 2pm @ $0.97
- HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7552:US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun14) = HK18.7ct + 2H (Dec13) = HK22.3ct
- KIT : 1H14 DPU Payout = 3.13ct ; 2H13 DPU Payout = 4.69ct ; Above Table Uses 2H13 + 1H14 DPU = 7.82ct to Calculate Yield
- CitySpring : Guidance for FY15 DPU = 3.28ct ie 0.82ct / Q
- Indiabulls : No DPU Payout as Semi-Annual Policy
- Religare : DPU = 1.99ct (Q1) + 2.06ct (Q2) ; 1H DPU = 2.922ct if No Sponsor Waiver
- APTT : Prospectus ; IPO @ $0.97 ; FY13 DPU = 7.29ct Yield = 7.51% ; FY14 DPU = 8.25ct Yield = 8.51% ; List on 29-May-13 2pm
- Croesus : Prospectus ; IPO @ $0.93 ; FY14 DPU = 7.39ct Yield = 7.946% ; FY15 DPU = 7.49ct Yield = 8.054% ; Gearing = 43.7% ; List on 10-May-13 2pm
- Forterra (TCT) : No DPU Declared since 2H11 ; Last DPU = 5ct on 1H11
- Religare : Prospectus ; IPO @ $0.90 ; FY13 DPU = 4ct (1-Oct-12 to 31-Mar-13) Yield = 8.9% (Sponsor Waiver to DPU) / 6.42% (if no waiver) ; FY14 DPU = 8.17ct Yield = 9.1% (waiver) / 6.54% (no waiver) ; Gearing = 6.7%
- Indiabulls : Maiden DPU on 1H (sep12) Declared since Listing on 11-Jun-08
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