February 2017
Results Announcement
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3 Feb 17 : FLT
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6 Feb 17 : RHT
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9 Feb 17 (AM) : AIMSAMPReit
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13 Feb 17 (AM) : Manulife
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13 Feb 17 : Accordia
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14 Feb 17 (AM) : CRT
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15 Feb 17 : LMIRT
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16 Feb 17 (AM) : Rickmers
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22 Feb 17 (AM) : FE-HTrust
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22 Feb 17 : EC World
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23 Feb 17 : FSL
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23 Feb 17 : BHG REIT
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27 Feb 17 (AM) : APTT
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28 Feb 17 : IREIT
REITs : Average Yield = 7.051% (Excludes Saizen)
|
REIT |
Period |
Mkt |
DPU cts |
Yield |
NAV |
Gearing |
Assets Type |
|
SoilbuildBizREIT |
Q4 – Dec16 |
$0.645 |
1.570 |
9.736% |
$0.720 |
37.60% |
Industrial (12) : Business Park 32% + Industrial 68% by NPI |
|
Viva Ind Tr |
Q4 – Dec16 |
$0.765 |
1.760 |
9.153% |
$0.791 |
37.20% |
Industrial (8) : Biz Park (53.3%) + Light Industrial (26.1%) + Hotel (12%) + Logistics (8.7%) by NPI |
|
Cache Log Trust |
Q4 – Dec16 |
$0.820 |
1.850 |
9.024% |
$0.780 |
43.10% |
Industrial (19) : Singapore (85%) + Australia (14%) + China (1%) by Gross Revenue |
|
Lippo Malls Tr |
Q4 – Dec16 |
$0.390 |
0.870 |
8.923% |
$0.390 |
31.50% |
Retail (Indonesia) – 20 |
|
IREIT Global |
2H – Dec16 |
$0.755 |
3.150 |
8.344% |
$0.623 |
41.60% |
Offices : Germany (5) |
|
AIMSAMP Cap Reit |
Q3 – Dec16 |
$1.355 |
2.770 |
8.280% |
$1.477 |
34.60% |
Industrial (27) : Singapore + Australia |
|
Sabana REIT |
Q4 – Dec16 |
$0.435 |
0.880 |
8.046% |
$0.740 |
43.20% |
Industrial (21) |
|
EC World Reit |
Q4 – Dec16 |
$0.740 |
1.463 |
7.865% |
$0.930 |
27.60% |
Port, Warehouse & e-Commerce Infrastructure in China |
|
OUE Htrust |
Q4 – Dec16 |
$0.695 |
1.360 |
7.827% |
$0.770 |
38.10% |
Hotel (77%) + Retail (23%) by NPI |
|
Frasers Com Tr |
Q1 – Dec16 |
$1.270 |
2.506 |
7.827% |
$1.530 |
36.00% |
Singapore (54%) + Australia (46%) by NPI |
|
BHG Retail Reit |
2H – Dec16 |
$0.665 |
2.600 |
7.820% |
$0.850 |
31.00% |
Retail (China) – 5 |
|
FHT |
Q1 – Dec16 |
$0.685 |
1.326 |
7.742% |
$0.748 |
33.70% |
Hotel (9) + Serviced Apt (6) : Australia (40%) + Singapore (20%) + UK (14%) + Japan (15%) + Malaysia (6%) + Germany (5%) by NPI |
|
Ascendas-hTrust |
Q3 – Dec16 |
$0.755 |
1.640 |
7.430% |
$0.850 |
33.30% |
Hotels (11) : Australia (56%) + Japan (24%) + Singapore (12%) + China (8%) by NPI |
|
Far East HTrust |
Q4 – Dec16 |
$0.585 |
1.120 |
7.402% |
$0.909 |
32.10% |
Hotels (66.5%) + Commercial (20.8%) + Serviced Apts (12.7%) by Revenue |
|
OUE Com Reit |
2H – Dec16 |
$0.700 |
2.500 |
7.400% |
$0.930 |
39.60% |
Office (82.4%) + Retail (17.6%) ; Singapore (80.4%) + China (19.6%) by Revenue |
|
Mapletree GCC Tr |
Q3 – Dec16 |
$0.985 |
1.778 |
7.220% |
$1.213 |
40.50% |
Retail + Office : HK (72.2%) + China (27.8%) by NPI ; Retail (64.7%) + Office (33.9%) by NPI |
|
Frasers L&I Tr |
Q1 – Dec16 |
$0.975 |
1.740 |
7.138% |
$0.945 |
29.70% |
Industrial (Australia) – 54 |
|
Ascott Reit |
2H – Dec16 |
$1.165 |
4.392 |
7.096% |
$1.330 |
39.80% |
Serviced Apts (90) : Key Mkt (87.7%) + R.O.W (12.3%) by Valuation |
|
CDL Htrust |
2H – Dec16 |
$1.415 |
5.550 |
7.067% |
$1.551 |
36.80% |
Hotels : Singapore (62%) + Australia (10%) + Maldives (8%) + NZ (10%) + Japan (4%) + UK (6%) by NPI |
|
Mapletree Log Tr |
Q3 – Dec16 |
$1.075 |
1.870 |
6.958% |
$1.010 |
38.70% |
Industrial (128) |
|
Cambridge Ind Tr |
Q4 – Dec16 |
$0.575 |
0.996 |
6.929% |
$0.634 |
37.50% |
Industrial (49) |
|
StarhillGbl Reit |
Q2 – Dec16 |
$0.740 |
1.260 |
6.905% |
$0.910 |
35.20% |
Retail + Office : Singapore (61.4%) + Australia (23.4%) + Malaysia (12.7%) + Others (2.5%) by Revenue |
|
ManulifeREIT USD |
Q4 – Dec16 |
$0.840 |
3.550 |
6.845% |
$0.840 |
33.80% |
Offices : USA (3) |
|
Mapletree Ind Tr |
Q3 – Dec16 |
$1.665 |
2.830 |
6.799% |
$1.370 |
29.40% |
Industrial (85) |
|
CapitaR China Tr |
2H – Dec16 |
$1.425 |
4.730 |
6.639% |
$1.600 |
35.30% |
Retail (China) – 11 |
|
First REIT |
Q4 – Dec16 |
$1.285 |
2.130 |
6.591% |
$1.008 |
31.10% |
Hospitals (13 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3) |
|
Ascendas Reit |
Q3 – Dec16 |
$2.500 |
3.993 |
6.078% |
$2.040 |
31.80% |
Industrial (130) : Singapore (86%) + Australia (14%) by Valuation |
|
CapitaCom Trust |
2H – Dec16 |
$1.560 |
4.690 |
6.013% |
$1.730 |
37.80% |
Office (70%) + Retail (18%) + Hotel (12%) by Gross Rental Income |
|
Frasers Cpt Tr |
Q1 – Dec16 |
$2.000 |
2.890 |
5.892% |
$1.930 |
29.70% |
Retail (6) + 31.17% of Hektar (MREIT) |
|
Suntec Reit |
Q4 – Dec16 |
$1.730 |
2.596 |
5.782% |
$2.121 |
37.70% |
Office (65%) + Retail (30%) + Convention (5%) by Income |
|
Keppel Reit |
Q4 – Dec16 |
$1.035 |
1.480 |
5.720% |
$1.430 |
38.50% |
Office (8) : Singapore (89%) + Australia (11%) by Asset Value |
|
SPHREIT |
Q1 – Nov16 |
$0.970 |
1.340 |
5.680% |
$0.940 |
25.70% |
Retail (2) |
|
Fortune Reit HKD |
2H – Dec16 |
$8.610 |
24.450 |
5.679% |
$12.900 |
29.50% |
Retail (HK) – 17 |
|
CapitaMall Trust |
Q4 – Dec16 |
$1.970 |
2.880 |
5.650% |
$1.860 |
34.80% |
Retail (16) + Office |
|
Mapletree Com Tr |
Q3 – Dec16 |
$1.500 |
2.280 |
5.587% |
$1.340 |
37.00% |
Retail + Office |
|
ParkwayLife Reit |
Q4 – Dec16 |
$2.430 |
3.060 |
5.037% |
$1.680 |
36.30% |
Hospitals + Nursing Homes = 44 : Singapore 62% + Japan 37% by Gross Revenue |
|
Keppel DC REIT |
2H – Dec16 |
$1.180 |
2.800 |
4.746% |
$0.926 |
28.30% |
Data Centres – 12 + 1 (Under Devt) |
|
Saizen REIT |
2H – Jun15 |
$0.051 |
2.930 |
0.000% |
$1.210 |
35.00% |
Residential (Japan) – 136 |
NOTES :
- Mkt Price is as on 28-Feb-17
- IREIT Global : DPU 100% Hedged @ €1 : S$1.55 for FY17
- EC World : Annualised DPU = 5.82ct
- FE-HTrust : Above Yield is Computed using last 4Qs DPU : 4.33ct = 1.12ct (Dec16) + 1.12ct (Sep16) + 1.01ct (Jun16) + 1.08ct (Mar16)
- Manulife REIT : DPU = US 3.55ct (20-May-16 to 31-Dec-16)
- AIMSAMPReit : Above Yield is Computed using last 4Qs DPU : 11.22ct = 2.77ct (Dec16) + 2.75ct (Sep16) + 2.75ct (Jun16) + 2.95ct (Mar16)
- FLT : DPU Not Paid as Semi-Annual Payout Policy
- A-HTrust : Above Yield is Computed Using latest 4Qs DPU = 5.61ct = 1.64ct (Q317) + 2.67ct (1H17) + 1.3ct (Q416) ; DPU Not Paid as Semi-Annual Payout Policy
- FHT : DPU Not Paid as Semi-Annual Payout Policy
- YTL StarHill : Above Yield is Computed using last 4Qs DPU : 5.11ct = 1.26ct (Dec16) + 1.30ct (Sep16) + 1.29ct (Jun16) + 1.26ct (Mar16)
- MGCCT : DPU Not Paid as Semi-Annual Payout Policy
- OUE C-REIT : Above Yield is Computed using last 4Qs DPU : 5.18ct = 2.5ct (2H16) + 2.68ct (1H16)
- CDL H-Trust : Above Yield is Computed using last 4Qs DPU : 10ct = 5.55ct (2H16) + 4.45ct (1H16)
- VIT : Annualised DPU = 7.002ct
- Sabana : Annualised DPU = 3.5ct
- MCT : Above Yield is Computed using last 4Qs DPU : 8.38ct = 2.28ct (Dec16) + 2.05ct (Sep16) + 2.03ct (Jun16) + 2.02ct (Mar16)
- Cambridge : Annualised DPU = 3.984ct
- PLife : Annualised DPU = 12.24ct
- Suntec : Above Yield is Computed Using latest 4Qs DPU = 10.003ct = 2.596ct (Q416) + 2.535ct (Q316) + 2.501ct (Q216) + 2.371ct (Q116)
- A-REIT : Above Yield is Computed Using latest 4Qs DPU = 15.194ct = 3.993ct (Q317) + 7.791ct (1H17) + 3.41ct (Q416)
- AscottREIT : Above Yield Uses Latest 4Qs DPU = 4.392ct (2H16) + 3.875ct (1H16) = 8.267ct
- FCOT : Annualised DPU = 9.94ct ; Includes $850k from Capital Gains (Hotel)
- Keppel DC REIT : FY16 DPU = 6.68ct if Excl Pro-rated Entitlement due to Preferential Offering ; Q416 DPU = 1.31ct (1.67ct if Excl Preferential Offering Entitlement)
- FCT : Above Yield is Computed using last 4Qs DPU : 11.784ct = 2.89ct (Dec16) + 2.815ct (Sep16) + 3.040ct (Jun16) + 3.039ct (Mar16) ; Jun16 DPU Incl. $2.1M Retained in Prior Qs
- CMT : Above Yield Uses Latest 4Qs DPU = 2.73ct (Mar16) + 2.88ct (Dec16) + 2.78ct (Sep16) + 2.74ct (Jun16) = 11.13ct
- FirstREIT : Annualised DPU = 8.47ct
- SPHREIT : Above Yield is Computed using last 4Qs DPU = 1.34ct (Nov16) + 1.41ct (Aug16) + 1.36ct (May16) + 1.40ct (Feb16) =5.51ct
- IREIT Global : DPU 100% Hedged @ €1 : S$1.53 for FY16
- 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 |
Q4 – Dec16 |
$0.133 |
0.00 |
0.000% |
$0.390 |
Shipping Trust |
|
RickmersMaritime |
Q4 – Dec16 |
$0.026 |
0.00 |
0.000% |
$0.210 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3994 : US$1 fm Yahoo Finance)
- Rickmers : DPU Suspended fm Q315 ; Trading suspension on 15 Nov 2016, pending resolution of restructuring efforts
Suspends
- 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 |
Q4 – Dec16 |
$0.495 |
0.930 |
7.515% |
$0.316 |
Infrastructure |
|
Ascendas-iTrust |
Q3 – Dec16 |
$1.090 |
1.420 |
4.991% |
$0.710 |
India – Industrial Park (6) |
|
Indiabulls Trust |
2H – Mar16 |
$0.255 |
0.000 |
0.250% |
$1.710 |
India – Office |
|
HPH Trust USD |
2H – Dec16 |
$0.380 |
16.600 |
10.376% |
HK$4.57 |
Ports – HK (40%) + China (60%) by Revenue |
|
RHT HealthTrust |
Q3 – Dec16 |
$0.850 |
1.250 |
5.882% |
$0.838 |
India – Healthcare (18) |
|
Croesus Rtrust |
1H – Dec16 |
$0.850 |
3.600 |
8.400% |
Y77.89 |
Japan – Retail (11) |
|
Asian Pay TV Tr |
Q4 – Dec16 |
$0.480 |
1.625 |
13.542% |
$0.850 |
Taiwan PayTV |
|
Accordia Golf Tr |
1H – Sep16 |
$0.750 |
2.450 |
9.013% |
$1.010 |
Japan Golf Courses – 89 |
|
Dasin Retail Tr |
FY17 – IPO |
$0.810 |
6.800 |
8.395% |
$1.023 |
China – Retail |
NOTES :
- APTT : Above Yield uses DPU = 6.5ct as FY17 Guidance = 6.5ct ie 1.625ct / Q
- CroesusRT : Exchange Rate Y100 = S$1.2456 ; Annualised DPU = 7.14ct ; Hedged Rate –FY16 @ Y83.57 ; FY17 @ Y76.39 ; 1H FY18 @ Y71.05
- RHT : DPU Not Paid as Semi-Annual Payout Policy
- a-iTrust : DPU Not Paid as Semi-Annual Payout Policy
- 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 @ $0.80 - Accordia : Above Yield Computed Using DPU = 6.76ct = 4.31ct (2H16 – Mar16) + 2.45ct (1H17 – Sep16)
- APTT : Above Yield uses DPU = 6.5ct as FY16 Guidance = 6.5ct to 7ct (1.625ct/Q ; Q4 May Have Additional DPU)
- HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7610 : US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun16) = HK14.0ct + 2H (Dec15) = HK18.7ct
- 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 : Yield Computed Using 0ct (2H16) + 0.0638ct (1H16)
- APTT : FY15 Guidance = 8.25ct (Q1,Q2,Q3 = 2ct + Q4 =2.25ct)
- 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
Comments are Closed