December 2015
REITs : Average Yield = 7.297%
|
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
|
Sabana REIT |
Q3 – Sep15 |
1.770 |
$0.715 |
9.818% |
$1.040 |
38.00% |
Industrial (23) |
|
Lippo Malls Tr |
Q3 – Sep15 |
0.770 |
$0.320 |
9.625% |
$0.373 |
35.00% |
Retail (Indonesia) – 19 |
|
Cache Log Trust |
Q3 – Sep15 |
2.140 |
$0.910 |
9.330% |
$0.970 |
38.30% |
Industrial (14) : Singapore (92%) + Shanghai (1%) + Australia (7%) by Gross Rental Income |
|
Viva Ind Tr |
Q3 – Sep15 |
1.647 |
$0.710 |
9.203% |
$0.827 |
38.80% |
Biz Park (70.4%) + Hotel (14.6%) + Light Industrial (12.1%) + Logistics (2.9%) by Valuation |
|
OUE Htrust |
Q3 – Sep15 |
1.720 |
$0.770 |
8.935% |
$0.900 |
42.10% |
Hotel (76%) + Retail (24%) by NPI |
|
FHT |
Q4 – Sep15 |
1.665 |
$0.750 |
8.877% |
$0.857 |
38.90% |
Hotel (60.7%) + Serviced Apt (39.3%) : Singapore (23%) ; Australia (29%) ; UK (29%) ; Japan (11%) ; Malaysia (8%) by NPI |
|
Cambridge Ind Tr |
Q3 – Sep15 |
1.204 |
$0.565 |
8.455% |
$0.675 |
37.20% |
Industrial (51) |
|
SoilbuildBizREIT |
Q3 – Sep15 |
1.625 |
$0.770 |
8.442% |
$0.800 |
36.10% |
Business Park 34% + Industrial 66% by NPI |
|
IREIT Global |
Q3 – Sep15 |
1.410 |
$0.690 |
8.174% |
$0.632 |
43.40% |
Offices : Germany |
|
AIMSAMP Cap Reit |
Q2 – Sep15 |
2.800 |
$1.375 |
8.145% |
$1.522 |
30.90% |
Industrial (26) |
|
Frasers Com Tr |
Q4 – Sep15 |
2.518 |
$1.270 |
7.874% |
$1.530 |
36.20% |
Singapore (58%) + Australia (42%) by NPI |
|
Mapletree GCC Tr |
1H – Sep15 |
3.499 |
$0.915 |
7.648% |
$1.192 |
41.00% |
Retail + Office (China + HK) |
|
Mapletree Log Tr |
Q2 – Sep15 |
1.860 |
$0.990 |
7.515% |
$1.000 |
38.80% |
Industrial (119) |
|
Mapletree Ind Tr |
Q2 – Sep15 |
2.790 |
$1.520 |
7.342% |
$1.330 |
29.70% |
Industrial (84) |
|
Keppel Reit |
Q3 – Sep15 |
1.700 |
$0.930 |
7.312% |
$1.370 |
42.60% |
Offices : Singapore (4) + Australia (5) |
|
Far East HTrust |
Q3 – Sep15 |
1.200 |
$0.665 |
7.218% |
$0.965 |
31.40% |
Hotels (65.2%) + Serviced Apts (14.2%) + Commercial (20.6%) by Revenue |
|
Ascendas-hTrust |
1H – Sep15 |
2.660 |
$0.740 |
7.189% |
$0.720 |
37.50% |
Hotels (11) : Australia (56%) + Singapore (16%) + Japan (20%) + China (9%) by NPI |
|
CDL Htrust |
Q3 – Sep15 |
2.360 |
$1.325 |
7.064% |
$1.593 |
36.50% |
Hotels : Singapore (71.1%) + Australia (9%) + UK (5.4%) + NZ (4.1%) + Maldives (7%) + Japan (2.7%) by Valuation |
|
CapitaR China Tr |
Q3 – Sep15 |
2.640 |
$1.490 |
7.027% |
$1.680 |
28.50% |
Retail (China) – 10 |
|
Ascott Reit |
Q3 – Sep15 |
2.070 |
$1.185 |
6.987% |
$1.380 |
40.00% |
Serviced Apts (90) : AsiaPacific (68.7%) + Europe (31.3%) by Valuation |
|
First REIT |
Q3 – Sep15 |
2.080 |
$1.200 |
6.917% |
$1.020 |
32.90% |
Hospitals (11 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3) |
|
StarhillGbl Reit |
Q1 – Sep15 |
1.310 |
$0.755 |
6.887% |
$0.880 |
35.70% |
Retail (86.2%) + Office (13.8%) ; Singapore (60.1%) + Malaysia (11.5%) + Australia (23%) + China (3.4%) + Japan (2%) by Revenue |
|
Ascendas Reit |
1H – Sep15 |
7.730 |
$2.280 |
6.781% |
$2.100 |
34.60% |
Industrial : Singapore (102) + China (2) |
|
Keppel DC REIT |
Q3 – Sep15 |
1.640 |
$1.015 |
6.463% |
$0.860 |
30.10% |
Data Centres – 9 |
|
Suntec Reit |
Q3 – Sep15 |
2.522 |
$1.550 |
6.455% |
$2.066 |
35.80% |
Retail + Office |
|
CapitaCom Trust |
Q2 – Sep15 |
2.140 |
$1.350 |
6.341% |
$1.720 |
30.10% |
Office (67%) + Retail (20%) + Hotel (13%) by Gross Rental Income |
|
Frasers Cpt Tr |
Q4 – Sep15 |
2.859 |
$1.845 |
6.292% |
$1.910 |
28.20% |
Retail (6) + 31.17% of Hektar (MREIT) |
|
OUE COMMERCIAL REIT |
Q3 – Sep15 |
1.020 |
$0.655 |
6.229% |
$0.920 |
33.90% |
Retail (9.7%) + Office (90.3%) by Revenue |
|
Mapletree Com Tr |
Q2 – Sep15 |
2.020 |
$1.300 |
6.215% |
$1.240 |
36.40% |
Retail + Office |
|
CapitaMall Trust |
Q3 – Sep15 |
2.980 |
$1.930 |
6.124% |
$1.820 |
33.80% |
Retail (17) + Office |
|
Fortune Reit HKD |
Q3 – Sep15 |
11.540 |
$7.900 |
5.843% |
$12.430 |
30.40% |
Retail (HK) – 17 |
|
SPHREIT |
Q4 – Aug15 |
1.390 |
$0.955 |
5.822% |
$0.950 |
25.70% |
Retail (2) |
|
ParkwayLife Reit |
Q3 – Sep15 |
3.360 |
$2.330 |
5.768% |
$1.660 |
35.80% |
Hospitals + Nursing Homes = 47 : Singapore 64.2% + Japan 35.8% by NPI |
|
BHG Retail Reit |
FY15 – IPO |
0.760 |
$0.800 |
5.684% |
$0.826 |
33.50% |
Retail (China) – 5 |
|
Saizen REIT |
2H – Jun15 |
2.930 |
$1.090 |
5.376% |
$1.210 |
35.00% |
Residential (Japan) – 136 |
NOTES :
- Mkt Price is as on 31-Dec-15
- 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
- IREIT : No DPU Paid as Semi-Annual Payout Policy ; DPU Hedged @ €1 : S$1.54
- OUE C-REIT : DPU = 1.47ct if Exclude Rights Shares issued on 4-Aug-15 which was only Utilised for Acquisition on 8-Oct-15 ; DPU Not Paid as Semi-Annual Payout Policy
- Saizen : DPU Not Paid as Semi-Annual Payout Policy
- PLife : Annualised DPU = 13.44ct ; Includes Divestment Gain = 0.37ct (3rd of 4 Tranches)
- FortuneREIT : DPU Not Paid as Semi-Annual Payout Policy
- AscottREIT : DPU Not Paid as Semi-Annual Payout Policy
- CDL H-Trust : Annualised DPU = 9.36ct ; DPU Not Paid as Semi-Annual Payout Policy
- FHT : DPU = 1.5745ct (6-Jul-15 to 30-Sep-15) + 0.09ct (1-Jul-15 to 5-Jul-15) Already Paid
- CCT : DPU Not Paid as Semi-Annual Payout Policy
- StarHill Global : Annualised DPU = 5.20ct
- VIT : Annualised DPU = 6.534ct
- FCOT : Annualised DPU = 9.43ct ; DPU = 1.6069ct (3-Aug-15 to 30-Sep-15) + 0.9112ct (1-Jul-15 to 2-Aug-15) Already Paid as Advanced DPU
- CRCT : : Annualised DPU = 10.47ct
- Suntec : Annualised DPU = 10.006ct
- A-REIT : Actual DPU Payout = 8.001ct = 7.73ct (Recurrent DPU) + 0.271ct (One-Off)
- CMT : Annualised DPU = 11.82ct
- Cambridge : Annualised DPU = 4.777ct
- FCT : Above Yield is Computed using last 4Qs DPU = 11.608ct ie 2.75ct (Dec14) + 2.859ct (Sep15) + 3.036ct (Jun15) + 2.963ct (Mar15)
- CLT : Annualised DPU = 8.49ct
- Sabana : Annualised DPU = 7.02ct
- Keppel DC REIT : DPU Not Paid as Semi-Annual Payout Policy
- FirstREIT : Annualised DPU = 8.3ct
- Saizen : DPU Hedged @ Y85.6(Jun-15) & Y87 for 1H16 (Mar-16)
- SB REIT : DPU = Actual Payout = 0.987ct (5-May-15 to 30-Jun-15) ; Advanced DPU (Already Paid) = 0.628ct (1-Apr-15 to 4-May-15)
- 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
- 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
- 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)
Shipping Trusts (non-REITs)
|
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
|
FSL Trust |
Q3 – Sep15 |
0 |
$0.161 |
0.000% |
$0.430 |
Shipping Trust |
|
RickmersMaritime |
Q3 – Sep15 |
0 |
$0.098 |
0.000% |
$0.570 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.4121: US$1 fm Yahoo Finance)
- Rickmers
: DPU Suspended fm Q315 - 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 |
|
Kep Infra Tr |
Q2 – Sep15 |
0.93 |
$0.510 |
7.294% |
$0.350 |
Infrastructure |
|
Ascendas-iTrust |
1H – Sep15 |
2.74 |
$0.870 |
6.299% |
$0.650 |
India – Industrial Park |
|
Indiabulls Trust |
1H – Sep15 |
0.0638 |
$0.260 |
0.511% |
$1.734 |
India – Office |
|
HPH Trust USD |
1H – Jun15 |
15.7 |
$0.530 |
9.251% |
HK$4.84 |
Ports – HK + China |
|
Religare Htrust |
1H – Sep15 |
3.9 |
$1.000 |
7.800% |
$0.946 |
India – Healthcare |
|
Croesus Rtrust |
Q1 – Sep15 |
2.08 |
$0.810 |
10.185% |
Y80.54 |
Japan – Retail (7) |
|
Asian Pay TV Tr |
Q3 – Sep15 |
2 |
$0.640 |
12.891% |
$0.870 |
Taiwan PayTV |
|
Accordia Golf Tr |
1H – Sep15 |
2.32 |
$0.535 |
8.673% |
$0.890 |
Japan Golf Courses – 89 |
NOTES :
- CroesusRT : Exchange Rate Y100 = S$1.1729 ; Annualised DPU = 8.25ct ; DPU Not Paid as Semi-Annual Payout Policy
- APTT : Above Yield uses DPU = 8.25ct as FY15 Guidance = 8.25ct (Q1,Q2,Q3 = 2ct + Q4 =2.25ct)
- a-iTrust : Above DPU is based on 90% Payoutt
- HPH Trust : DPU Not Paid for Q3 as Semi-Annual Payout Policy ; DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7504 : US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun15) = HK15.7ct + 2H (Dec14) = HK22.3ct
- Indiabulls : Yield Computed Using 0.069ct (2H15) + 0.0638ct (1H16)
- Indiabulls : 5-for-1 Shares Consolidation on 25-Aug-15
- KIT : Proforma FY14 DPU = 3.73ct as per Circular dated 20-May-15
- KIT : Previously Cityspring + Offer of Units-in-Specie for Previous KIT ; Started Trading on 18 May 15
- 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
- Forterra : Delisted on 13-Feb-15 9AM
- PCRT : Delisted on 5-Feb-15 9AM
- 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
- 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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