January 2015

 

Results Announcement

  • 12 Jan 15 : SPHREIT (Updated)
  • 15 Jan 15 : FirstREIT (Updated)
  • 16 Jan 15 (AM) : Cambridge (Updated)
  • 19 Jan 15 : MLT (Updated)
  • 19 Jan 15 : KeppelREIT (Updated)
  • 19 Jan 15 : KIT (Updated)
  • 20 Jan 15 : MIT (Updated)
  • 21 Jan 15 (AM) : CCT (Updated)
  • 21 Jan 15 : MCT (Updated)
  • 21 Jan 15 : SB REIT (Updated)
  • 21 Jan 15 : Sabana (Updated)
  • 21 Jan 15 : Fortune (Updated)
  • 22 Jan 15 (AM) : AscottREIT (Updated)
  • 22 Jan 15 : A-REIT (Updated)
  • 22 Jan 15 : FCOT (Updated)
  • 22 Jan 15 : Suntec (Updated)
  • 23 Jan 15 (AM) : CMT (Updated)
  • 23 Jan 15 : FCT (Updated)
  • 26 Jan 15 : OUE C-REIT (Updated)
  • 26 Jan 15 : a-iTrust (Updated)
  • 26 Jan 15 : VIT (Updated)
  • 27 Jan 15 : CLT (Updated)
  • 27 Jan 15 : PLife (Updated)
  • 27 Jan 15 : MGCT (Updated)
  • 27 Jan 15 : Cityspring (Updated)
  • 27 Jan 15 : Starhill Global (Updated)
  • 27 Jan 15 : OUE H-Trust (Updated)
  • 28 Jan 15 (AM) : CDL H-Trust (Updated)
  • 29 Jan 15 (AM) : CRCT (Updated)
  • 29 Jan 15 (AM) : AMISAMPReit (Updated)
  • 29 Jan 15 : FHT (Updated)
  • 6 Feb 15 : HPH-Trust
  • 6 Feb 15 : A-HTrust
  • 11 Feb 15 (AM) : CRT
  • 11 Feb 15 (AM) : Saizen
  • 11 Feb 15 (AM) : FE-HTrust
  • 12 Feb 15 (AM) : LMIR
  • 13 Feb 15 (AM) : PCRT
  • 24 Feb 15 (AM) : APTT

 

 

 
 

REITs : Average Yield = 6.470%

REIT 

Period 

DPU cts 

Mkt  

Yield  

NAV 

Gearing  

Assets Type

Viva Ind Tr  

Q4 – Dec14  

1.701 

$0.805  

8.384% 

$0.758  

44.30% 

Biz Park (66.8%) + Hotel (16.4%) + Light Industrial (13.5%) + Logistics (3.3%) by Valuation  

SoilbuildBizREIT  

Q4 – Dec14  

1.585 

$0.780  

8.128% 

$0.800  

35.40% 

Business Park (2) + Industrial (8)

Lippo Malls Tr  

Q3 – Sep14  

0.690 

$0.355  

7.775% 

$0.415  

28.30% 

Retail (Indonesia) – 16  

IREIT Global  

FY14 – IPO  

3.330 

$0.860  

7.744% 

$0.780  

33.20% 

Offices : Germany  

Sabana REIT  

Q4 – Dec14  

1.780 

$0.915  

7.716% 

$1.040  

38.00%

Industrial (23)  

AIMSAMP Cap Reit  

Q3 – Dec14  

2.830 

$1.470  

7.701% 

$1.535  

31.70% 

Industrial (26)  

OUE Htrust  

Q4 – Dec14  

1.780 

$0.935  

7.615% 

$0.900  

32.70% 

Hotel (69%) + Retail (31%) by Asset  

Ascendas-hTrust  

1H – Sep14  

2.507 

$0.685

7.320% 

$0.730  

38.30% 

Hotels (12) : Australia (56%) + Singapore (20%) + Japan (15%) + China (9%) by NPI  

Cambridge Ind Tr  

Q4 – Dec14  

1.252 

$0.680  

7.304% 

$0.681  

34.80% 

Industrial (50)  

Cache Log Trust  

Q4 – Dec14  

2.146 

$1.185  

7.185% 

$0.980  

34.90%

Industrial : Singapore (12) + Shanghai (1)  

Saizen REIT  

2H – Jun14  

3.100 

$0.870  

7.126% 

$1.140  

38.00% 

Residential (Japan) – 137  

FHT  

Q1 – Dec14  

2.970 

$0.895  

7.083% 

$0.861  

40.00% 

Hotel (60.7%) + Serviced Apt (39.3%)  

OUE COMMERCIAL REIT

2H – Dec14  

2.840 

$0.805  

7.056% 

$1.100  

38.30% 

Retail (10%) + Office (89%) by Revenue  

Mapletree Ind Tr  

Q3 – Dec14  

2.670 

$1.530  

6.980% 

$1.210  

32.80% 

Industrial (85)  

Ascott Reit  

2H – Dec14  

4.264 

$1.265  

6.742% 

$1.370  

38.50% 

Serviced Apts (86) : AsiaPacific (68.3%) + Europe (31.7%) by Valuation

Frasers Com Tr  

Q1 – Dec14  

2.461 

$1.485  

6.572% 

$1.560  

37.20% 

Singapore (68%) + Australia (32%) by Valuation  

Mapletree GCC Tr  

Q3 – Dec14  

1.662 

$1.020  

6.464% 

$1.060  

37.90% 

Retail + Office (China + HK)

CDL Htrust  

2H – Dec14  

5.740 

$1.800  

6.378% 

$1.645  

31.70% 

Hotels : Singapore (75.1%) + Australia (9.6%) + NZ (4.1%) + Maldives (8.1%) + Japan (2.8%) by Valuation  

Far East HTrust  

Q3 – Sep14  

1.320 

$0.845  

6.249% 

$0.976  

31.40%

Hotels (66.5%) + Serviced Apts (14.7%) + Commercial (18.8%) by Revenue  

Mapletree Log Tr  

Q3 – Dec14  

1.870 

$1.200  

6.233% 

$0.960  

34.70% 

Industrial (117)  

Keppel DC REIT  

FY15 – IPO  

6.360 

$1.030  

6.175% 

$0.870  

27.80% 

Data Centres – 8  

StarhillGbl Reit

Q4 – Dec14  

1.290 

$0.830  

6.169% 

$0.930  

28.60% 

Retail (86.4%) + Office (13.6%) ; Singapore (67.9%) + Malaysia (15.1%) + Australia (9.9%) + China (5.2%) + Japan (1.9%) by Revenue  

First REIT  

Q4 – Dec14  

2.040 

$1.315  

6.122% 

$1.018  

33.10%

Hospitals (11 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3)  

Ascendas Reit  

Q3 – Dec14  

3.590 

$2.460  

5.837% 

$2.030  

33.60% 

Industrial : Singapore (104) + China (2)  

CapitaR China Tr  

2H – Dec14  

4.830 

$1.715  

5.633% 

$1.580

28.70% 

Retail (China) – 10  

Frasers Cpt Tr  

Q1 – Dec14  

2.750 

$2.070  

5.525% 

$1.850  

29.30% 

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

Mapletree Com Tr  

Q3 – Dec14  

2.080 

$1.515  

5.492% 

$1.170  

37.90% 

Retail + Office  

Suntec Reit  

Q4 – Dec14

2.577 

$1.880  

5.483% 

$2.091  

34.70% 

Retail + Office  

CapitaMall Trust  

Q4 – Dec14  

2.860 

$2.090  

5.431% 

$1.790  

33.80% 

Retail (16) + Office  

SPHREIT  

Q1 – Nov14  

1.330 

$1.055  

5.043% 

$0.930  

26.00% 

Retail (2)  

Keppel Reit  

Q4 – Dec14  

1.510 

$1.235  

4.891% 

$1.400  

43.30% 

Offices : Singapore (4) + Australia (5)  

Fortune Reit HKD  

2H – Dec14  

20.800 

$8.560  

4.860% 

$11.930  

29.40% 

Retail (HK) – 17  

CapitaCom Trust  

2H – Dec14  

4.240 

$1.770  

4.791% 

$1.710  

29.30% 

Office (66%) + Retail (20%) + Hotel (14%) by Gross Rental Income

ParkwayLife Reit  

Q4 – Dec14  

2.900 

$2.430  

4.774% 

$1.600  

35.20% 

Hospitals + Nursing Homes = 41  

NOTES :

  • Mkt Price is as on 30-Jan-15
  • FHT : DPU = 2.97ct (14-Jul-14 to 31-Dec-14) vs Projected DPU = 2.82ct ; DPU Not Paid as Semi-Annual Payout Policy (1st DPU Payout on 31-Mar-15)
  • PLife : Annualised DPU = 11.6ct
  • StarHill Global : Annualised DPU = 5.12ct
  • CLT : Annualised DPU = 8.514ct
  • MGCCT : Annualised DPU = 6.593ct
  • VIT : Annualised DPU = 6.749ct
  • FCT : Above Yield is Computed using last 4Qs DPU = 11.437ct ie 2.75ct (Dec14) + 2.785ct (Sep14) + 3.022ct (Jun14) + 2.88ct (Mar14)
  • CMT : Annualised DPU = 11.35ct
  • FCOT : Annualised DPU = 9.76ct
  • A-REIT : DPU Not Paid as Semi-Annual Payout Policy
  • Sabana : Annualised DPU = 7.06ct
  • Keppel REIT : DPU = 1.25ct (1-Oct-14 to 15-Dec-14) + 0.26ct (16-Dec-14 to 31-Dec-14)
  • Cambridge : Annualised DPU = 4.967ct
  • FirstREIT : Annualised DPU = 8.05ct
  • 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
  • Saizen : DPU Not Paid as Semi-Annual Payout Policy
  • 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
  • A-REIT : DPU Semi-Annual Payout Policy fm FY15(Mar)
  • 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
  • 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 

$0.136  

0.000% 

$0.400  

Shipping Trust

RickmersMaritime  

Q3 – Sep14 

0.6 

$0.290  

11.201% 

$0.580  

Shipping Trust  

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3534: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

Q3 – Dec14

0.82

$0.545

6.018%

$0.146

Infrastructure – Water + Gas + Power

Keppel Infra Tr

2H – Dec14

7.82

$1.070

7.308%

$0.890

Energy (Incineration) + Water (NEWater)

Ascendas-iTrust

Q3 – Dec14

1.16

$0.855

5.427%

$0.600

India – Industrial Park

Indiabulls Trust

2H – Mar14

0.0162

$0.106

0.298%

$0.341

India – Office

HPH Trust USD

2H – Dec13

22.3

$0.715

7.397%

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

$1.030

7.010%

$0.867

India – Healthcare

Croesus Rtrust

Q1 – Sep14

2.08

$0.945

8.730%

Y72.57

Japan – Retail (7)

Asian Pay TV Tr

1H – Jun14

4.12

$0.910

9.066%

$0.900

Taiwan PayTV

Accordia Golf Tr

FY15 (Mar) – IPO

6.8

$0.770

8.831%

$0.921

Japan Golf Courses – 89

NOTES :

  • a-iTrust : Above DPU is based on 90% Payout ; DPU Not Paid as Semi-Annual Payout Policy
  • KIT : 1H14 DPU Payout = 3.13ct ; 2H14 DPU Payout = 4.69ct ; Above Table Uses 2H13 + 1H14 DPU = 7.82ct to Calculate Yield
  • CroesusRT : Exchange Rate Y100 = S$1.1504 ; 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)
  • 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$7.7524:US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun14) = HK18.7ct + 2H (Dec13) = HK22.3ct
  • 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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