March 2016
REITs : Average Yield = 7.305% (Excludes Saizen)
|
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
|
Lippo Malls Tr |
Q4 – Dec15 |
0.810 |
$0.325 |
9.969% |
$0.384 |
35.00% |
Retail (Indonesia) – 19 |
|
Cache Log Trust |
Q4 – Dec15 |
2.074 |
$0.845 |
9.818% |
$0.880 |
39.80% |
Industrial (19) : Singapore (89%) + Shanghai (1%) + Australia (10%) + China (1%) by Gross Rental Income |
|
Sabana REIT |
Q4 – Dec15 |
1.500 |
$0.630 |
9.444% |
$0.880 |
41.70% |
Industrial (23) |
|
Viva Ind Tr |
Q4 – Dec15 |
1.634 |
$0.720 |
9.004% |
$0.813 |
38.60% |
Biz Park (61%) + Light Industrial (22.3%) + Hotel (14.2%) + Logistics (2.5%) by Valuation |
|
FHT |
Q1 – Dec15 |
1.720 |
$0.775 |
8.877% |
$0.860 |
38.80% |
Hotel (60.7%) + Serviced Apt (39.3%) : Australia (32%) + Singapore (22%) + UK (21%) + Japan (16%) + Malaysia (9%) by NPI |
|
SoilbuildBizREIT |
Q4 – Dec15 |
1.614 |
$0.730 |
8.844% |
$0.800 |
36.00% |
Business Park 34% + Industrial 66% by NPI |
|
IREIT Global |
2H – Dec15 |
3.030 |
$0.690 |
8.783% |
$0.628 |
42.60% |
Offices : Germany (5) |
|
AIMSAMP Cap Reit |
Q3 – Dec15 |
2.850 |
$1.335 |
8.539% |
$1.520 |
31.50% |
Industrial (26) |
|
Cambridge Ind Tr |
Q4 – Dec15 |
1.139 |
$0.560 |
8.070% |
$0.673 |
36.90% |
Industrial (51) |
|
Mapletree GCC Tr |
Q3 – Dec15 |
1.854 |
$0.955 |
7.765% |
$1.167 |
41.40% |
Retail + Office : HK (65.9%) + China (34.1%) by NPI |
|
Ascott Reit |
2H – Dec15 |
4.138 |
$1.070 |
7.735% |
$1.410 |
39.30% |
Serviced Apts (89) : Key Mkt (87.7%) + R.O.W (12.3%) by Valuation |
|
Ascendas-hTrust |
Q3 – Dec15 |
1.450 |
$0.750 |
7.733% |
$0.720 |
38.20% |
Hotels (11) : Australia (58%) + Japan (20%) + Singapore (14%) + China (8%) by NPI |
|
Frasers Com Tr |
Q1 – Dec15 |
2.510 |
$1.300 |
7.662% |
$1.530 |
36.20% |
Singapore (55%) + Australia (45%) by NPI |
|
CDL Htrust |
2H – Dec15 |
5.370 |
$1.315 |
7.650% |
$1.591 |
36.40% |
Hotels : Singapore (66%) + Australia (11%) + Maldives (10%) + NZ (7%) + Japan (4%)+ UK (2%) by NPI |
|
Far East HTrust |
Q4 – Dec15 |
1.170 |
$0.630 |
7.429% |
$0.939 |
32.50% |
Hotels (67.8%) + Commercial (20.0%) + Serviced Apts (12.2%) by Revenue |
|
OUE Htrust |
Proforma FY15 (Rights) |
4.890 |
$0.660 |
7.409% |
$0.810 |
37.80% |
Hotel (77%) + Retail (23%) by NPI |
|
Mapletree Log Tr |
Q3 – Dec15 |
1.870 |
$1.010 |
7.406% |
$1.000 |
39.00% |
Industrial (118) |
|
OUE COMMERCIAL REIT |
2H – Dec15 |
2.380 |
$0.650 |
7.323% |
$0.960 |
40.10% |
Office (85.4%) + Retail (14.6%) by Revenue ; Singapore (78.2%) + China (21.8%) by Gross Rental Income |
|
CapitaR China Tr |
2H – Dec15 |
5.230 |
$1.445 |
7.114% |
$1.720 |
27.70% |
Retail (China) – 10 |
|
Mapletree Ind Tr |
Q3 – Dec15 |
2.820 |
$1.595 |
7.072% |
$1.330 |
29.30% |
Industrial (84) |
|
Keppel Reit |
Q4 – Dec15 |
1.680 |
$0.995 |
6.754% |
$1.420 |
39.30% |
Office : Singapore (89%) + Australia (11%) by Asset Value |
|
First REIT |
Q4 – Dec15 |
2.090 |
$1.230 |
6.748% |
$1.039 |
34.00% |
Hospitals (12 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3) |
|
StarhillGbl Reit |
Q2 – Dec15 |
1.320 |
$0.780 |
6.718% |
$0.890 |
35.70% |
Retail (86.1%) + Office (13.9%) ; Singapore (60.8%) + Australia (22.8%) + Malaysia (11.3%) + China (3%) + Japan (2.1%) by Revenue |
|
Ascendas Reit |
Q3 – Dec15 |
3.946 |
$2.390 |
6.604% |
$2.020 |
37.30% |
Industrial : Singapore (102) + Australia (26) + China (2) |
|
Keppel DC REIT |
2H – Dec15 |
3.280 |
$1.060 |
6.189% |
$0.890 |
29.20% |
Data Centres – 9 |
|
Suntec Reit |
Q4 – Dec15 |
2.750 |
$1.675 |
5.971% |
$2.127 |
35.80% |
Retail + Office |
|
Mapletree Com Tr |
Q3 – Dec15 |
2.080 |
$1.410 |
5.901% |
$1.240 |
36.30% |
Retail (69%) + Office (31%) by NPI |
|
CapitaCom Trust |
2H – Dec15 |
4.310 |
$1.470 |
5.864% |
$1.730 |
29.50% |
Office (68%) + Retail (19%) + Hotel (13%) by Gross Rental Income |
|
Frasers Cpt Tr |
Q1 – Dec15 |
2.870 |
$2.000 |
5.864% |
$1.910 |
28.30% |
Retail (6) + 31.17% of Hektar (MREIT) |
|
BHG Retail Reit |
FY15 – IPO |
0.760 |
$0.800 |
5.684% |
$0.826 |
33.50% |
Retail (China) – 5 |
|
SPHREIT |
Q1 – Nov15 |
1.330 |
$0.965 |
5.668% |
$0.940 |
25.70% |
Retail (2) |
|
Fortune Reit HKD |
2H – Dec15 |
23.500 |
$8.300 |
5.663% |
$12.760 |
30.10% |
Retail (HK) – 17 |
|
ParkwayLife Reit |
Q4 – Dec15 |
3.370 |
$2.390 |
5.640% |
$1.660 |
35.30% |
Hospitals + Nursing Homes = 47 : Singapore 64.1% + Japan 35.9% by NPI |
|
CapitaMall Trust |
Q4 – Dec15 |
2.880 |
$2.090 |
5.469% |
$1.860 |
35.40% |
Retail (16) + Office |
|
Saizen REIT |
2H – Jun15 |
2.930 |
$0.090 |
0.000% |
$1.210 |
35.00% |
Residential (Japan) – 136 |
NOTES :
- Mkt Price is as on 31-Mar-16
- IREIT : DPU 80% Hedged @ €1 : S$1.52 for FY16
- CRCT : : Annualised DPU = 10.28ct for Q415
- MGCT : DPU Not Paid as Semi-Annual Payout Policy
- FHT : DPU Not Paid as Semi-Annual Payout Policy
- A-HTrust : DPU Not Paid as Semi-Annual Payout Policy
- CDL H-Trust : Above Yield is Computed using last 4Qs DPU : 10.06ct = 5.37ct (2H15) + 4.69ct (1H15)
- PLife : Annualised DPU = 13.48ct ; Includes Divestment Gain = 0.38ct (4th of 4 Tranches ie Final Tranche)
- YTL StarHill : Annualised DPU = 5.24ct
- Suntec : Above Yield is Computed Using DPU = 10.002ct (FY15) = 2.75ct (Q415) + 2.522ct (Q315) + 2.5ct (Q215) + 2.23ct (Q115)
- VIT : Annualised DPU = 6.483ct
- CLT : Annualised DPU = 8.49ct ; DPU = 1.174ct (13-Nov-15 to 31-Dec-15) + 0.9ct (1-Oct-15 to 12-Nov-15) Already Paid
- Sabana : Annualised DPU = 5.95ct
- A-REIT : DPU Not Paid as Semi-Annual Payout Policy
- FCOT : Annualised DPU = 9.96ct
- CMT : Annualised DPU = 11.43ct
- FCT : Above Yield is Computed using last 4Qs DPU : 11.608ct = 2.87ct (Dec15) + 2.859ct (Sep15) + 3.036ct (Jun15) + 2.963ct (Mar15)
- FirstREIT : Annualised DPU = 8.3ct
- SPHREIT : Above Yield is Computed using last 4Qs DPU = 1.33ct (Nov15) + 1.39ct (Aug15) + 1.35ct (May15) + 1.40ct (Feb15) =5.47ct
- 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
- Cambridge : Annualised DPU = 4.777ct
- Saizen : DPU Hedged @ Y85.6(Jun-15) & Y87 for 1H16 (Mar-16)
- 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
- 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^ |
Q4 – Dec15 |
0.00 |
$0.138 |
0.000% |
$0.440 |
Shipping Trust |
|
RickmersMaritime |
Q4 – Dec15 |
0.00 |
$0.079 |
0.000% |
$0.410 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3470 : 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 |
Q3 – Dec15 |
0.93 |
$0.495 |
7.515% |
$0.353 |
Infrastructure |
|
Ascendas-iTrust |
Q3 – Dec15 |
1.36 |
$0.875 |
6.217% |
$0.640 |
India – Industrial Park |
|
Indiabulls Trust |
1H – Sep15 |
0.06 |
$0.188 |
0.706% |
$1.703 |
India – Office |
|
HPH Trust USD |
2H – Dec15 |
18.70 |
$0.500 |
8.873% |
HK$4.70 |
Ports – HK (40%) + China (60%) by Revenue |
|
Religare Htrust |
Q3 – Dec15 |
1.91 |
$0.980 |
7.796% |
$0.905 |
India – Healthcare (18) |
|
Croesus Rtrust |
1H – Dec15 |
3.50 |
$0.785 |
8.841% |
Y76.03 |
Japan – Retail (8) |
|
Asian Pay TV Tr |
Q4 – Dec15 |
2.25 |
$0.560 |
11.607% |
$0.860 |
Taiwan PayTV |
|
Accordia Golf Tr |
Q3 – Dec15 |
2.16 |
$0.600 |
7.733% |
$0.890 |
Japan Golf Courses – 89 |
NOTES :
- APTT : Above Yield uses DPU = 6.5ct as FY16 Guidance = 6.5ct to 7ct (1.625ct/Q ; Q4 May Have Additional DPU)
- CroesusRT : Exchange Rate Y100 = S$1.1982 ; Annualised DPU = 6.94ct ; Hedged Rate – FY16 @ Y85.03 ; FY17 @ Y84.16
- Accordia : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield Computed Using 1H (Sep15) DPU = 2.32ct
- RHT : DPU Not Paid as Semi-Annual Payout Policy
- HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7542 : US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun15) = HK15.7ct + 2H (Dec15) = HK18.7ct
- Indiabulls : DPU Not Paid as Semi-Annual Payout Policy
- a-iTrust : DPU Not Paid as Semi-Annual Payout Policy
- APTT
: FY15 Guidance = 8.25ct (Q1,Q2,Q3 = 2ct + Q4 =2.25ct) - Indiabulls : Yield Computed Using 0.069ct (2H15) + 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
- 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
Comments are Closed