June 2017
REITs : Average Yield = 6.579% (Excludes Saizen)
| REIT |
Period |
Mkt |
DPU cts |
Yield |
NAV |
Gearing |
Assets Type |
| Viva Ind Tr |
Q1 – Mar17 |
$0.885 |
1.854 |
8.496% |
$0.792 |
39.20% |
Industrial (9) : Biz Park (50.4%) + Light Industrial (23.4%) + Logistics (15.4%) + Hotel (10.8%) by NPI |
| SoilbuildBizREIT |
Q1 – Mar17 |
$0.720 |
1.4890 |
8.272% |
$0.720 |
37.50% |
Industrial (12) : Business Park 31% + Industrial 69% by NPI |
| Lippo Malls Tr |
Q1 – Mar17 |
$0.445 |
0.890 |
8.000% |
$0.374 |
32.20% |
Retail (Indonesia) – 20 |
| Cache Log Trust |
Q1 – Mar17 |
$0.915 |
1.8000 |
7.978% |
$0.780 |
43.10% |
Industrial (19) : Singapore (84%) + Australia (15%) + China (1%) by Gross Revenue |
| EC World Reit |
Q1 – Mar17 |
$0.810 |
1.541 |
7.716% |
$0.900 |
28.60% |
Port, Warehouse & e-Commerce Infrastructure in China |
| Sabana REIT |
Q1 – Mar17 |
$0.465 |
0.8800 |
7.677% |
$0.590 |
36.10% |
Industrial (21) |
| IREIT Global |
Q1 – Mar17 |
$0.760 |
1.440 |
7.579% |
$0.660 |
42.10% |
Offices : Germany (5) |
| BHG Retail Reit |
Q1 – Mar17 |
$0.740 |
1.3900 |
7.514% |
$0.820 |
32.50% |
Retail (China) – 5 |
| AIMSAMP Cap Reit |
Q4 – Mar17 |
$1.480 |
2.780 |
7.466% |
$1.390 |
36.10% |
Industrial (27) : Singapore + Australia |
| ManulifeREIT USD |
Q1 – Mar17 |
$0.900 |
1.6500 |
7.333% |
$0.830 |
34.20% |
Offices : USA (3) |
| Frasers Com Tr |
Q2 – Mar17 |
$1.425 |
2.506 |
7.130% |
$1.540 |
35.90% |
Singapore (50.8%) + Australia (49.2%) by NPI |
| OUE Com Reit |
Q1 – Mar17 |
$0.715 |
1.2300 |
7.119% |
$0.860 |
36.20% |
Office (82.6%) + Retail (17.4%) ; Singapore (79.9%) + China (20.1%) by Revenue |
| FHT |
1H – Mar17 |
$0.725 |
2.532 |
6.985% |
$0.768 |
33.40% |
Hotel (9) + Serviced Apt (6) : Australia (47%) + Singapore (23%) + UK (11%) + Japan (8%) + Malaysia (6%) + Germany (5%) by NPI |
| OUE Htrust |
Q1 – Mar17 |
$0.745 |
1.3000 |
6.980% |
$0.760 |
38.10% |
Hotel (78%) + Retail (22%) by NPI |
| Ascott Reit |
Q1 – Mar17 |
$1.155 |
1.510 |
6.941% |
$1.270 |
41.10% |
Serviced Apts (90) : Key Mkt (87.8%) + R.O.W (12.2%) by Valuation |
| Ascendas-hTrust |
2H – Mar17 |
$0.825 |
3.0100 |
6.885% |
$0.920 |
32.20% |
Hotels (11) : Australia (51%) + Japan (29%) + Singapore (14%) + China (6%) by NPI |
| ESR-REIT |
Q1 – Mar17 |
$0.590 |
1.004 |
6.807% |
$0.634 |
37.80% |
Industrial (49) |
| Mapletree GCC Tr |
2H – Mar17 |
$1.080 |
3.7310 |
6.797% |
$1.301 |
39.20% |
Retail + Office : HK (69.3%) + China (30.7%) by NPI ; Retail (61.7%) + Office (36.6%) by NPI |
| First REIT |
Q1 – Mar17 |
$1.340 |
2.140 |
6.478% |
$1.006 |
31.00% |
Hospitals (13 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3) |
| Frasers L&I Tr |
1H – Mar17 |
$1.080 |
3.4900 |
6.463% |
$0.950 |
28.90% |
Industrial (Australia) – 54 |
| StarhillGbl Reit |
Q3 – Mar17 |
$0.780 |
1.180 |
6.449% |
$0.910 |
35.30% |
Retail + Office : Singapore (62.5%) + Australia (23.0%) + Malaysia (12.5%) + Others (2.0%) by Revenue |
| Far East HTrust |
Q1 – Mar17 |
$0.670 |
0.9300 |
6.239% |
$0.903 |
32.30% |
Hotels (65.2%) + Commercial (23.1%) + Serviced Apts (11.7%) by Revenue |
| Mapletree Log Tr |
Q4 – Mar17 |
$1.195 |
1.860 |
6.226% |
$1.020 |
38.50% |
Industrial (127) |
| Mapletree Ind Tr |
Q4 – Mar17 |
$1.860 |
2.8800 |
6.194% |
$1.410 |
29.20% |
Industrial (86) |
| CDL Htrust |
Q1 – Mar17 |
$1.655 |
2.420 |
6.163% |
$1.530 |
36.80% |
Hotels : Singapore (58.2%) + Australia (10.2%) + Maldives (9.4%) + NZ (15.1%) + Japan (3.6%) + UK (3.6%) by NPI |
| CapitaR China Tr |
Q1 – Mar17 |
$1.640 |
2.7400 |
6.146% |
$1.550 |
36.40% |
Retail (China) – 11 |
| Ascendas Reit |
Q4 – Mar17 |
$2.610 |
3.852 |
5.991% |
$2.040 |
33.80% |
Industrial (129) : Singapore (86%) + Australia (14%) by Valuation |
| CapitaCom Trust |
Q1 – Mar17 |
$1.660 |
2.4000 |
5.783% |
$1.720 |
38.10% |
Office (73%) + Retail (17%) + Hotel (10%) by Gross Rental Income |
| CapitaMall Trust |
Q1 – Mar17 |
$1.975 |
2.730 |
5.635% |
$1.860 |
35.30% |
Retail (16) + Office |
| SPHREIT |
Q2 – Feb17 |
$1.000 |
1.4000 |
5.510% |
$0.940 |
25.70% |
Retail (2) |
| Frasers Cpt Tr |
Q2 – Mar17 |
$2.140 |
3.040 |
5.507% |
$1.930 |
29.40% |
Retail (6) + 31.17% of Hektar (MREIT) |
| Mapletree Com Tr |
Q4 – Mar17 |
$1.595 |
2.2600 |
5.404% |
$1.380 |
36.30% |
Retail + Office |
| Keppel DC REIT |
Q1 – Mar17 |
$1.290 |
1.890 |
5.395% |
$0.943 |
27.90% |
Data Centres – 12 + 1 (Under Devt) |
| Suntec Reit |
Q1 – Mar17 |
$1.870 |
2.4250 |
5.378% |
$2.120 |
37.70% |
Office (69%) + Retail (28%) + Convention (3%) by Income |
| Fortune Reit HKD |
2H – Dec16 |
$9.480 |
24.450 |
5.158% |
$12.900 |
29.50% |
Retail (HK) – 17 |
| Keppel Reit |
Q1 – Mar17 |
$1.145 |
1.4500 |
5.066% |
$1.420 |
38.40% |
Office (8) : Singapore (89%) + Australia (11%) by Asset Value |
| ParkwayLife Reit |
Q1 – Mar17 |
$2.680 |
3.280 |
4.567% |
$1.680 |
37.60% |
Hospitals + Nursing Homes = 49 : Singapore 60% + Japan 40% by Gross Revenue |
| Saizen REIT |
2H – Jun15 |
$0.033 |
2.930 |
0.000% |
$1.210 |
35.00% |
Residential (Japan) – 136 |
NOTES :
- Mkt Price is as on 30-Jun-17
- FE-HTrust : Above Yield is Computed using last 4Qs DPU : 4.18ct = 1.12ct (Dec16) + 1.12ct (Sep16) + 1.01ct (Jun16) + 0.93ct (Mar17)
- A-HTrust : Above Yield is Computed Using latest 4Qs DPU = 5.68ct = 3.01ct (2H17) + 2.67ct (1H17)
- IREIT Global : DPU Not Paid as Semi-Annual Payout Policy
- EC World : Annualised DPU = 6.25ct
- OUE C-REIT : Above Yield is Computed using last 4Qs DPU : 5.09ct = 1.23ct (Q117) + 2.5ct (2H16) + 1.36ct (Q216) ; Advanced DPU = 1ct (1-Jan-17 to 16-Mar-17)
- Sabana : Annualised DPU = 3.57ct
- Manulife REIT : DPU Not Paid as Semi-Annual Payout Policy
- VIT : Annualised DPU = 7.519ct
- YTL StarHill : Above Yield is Computed using last 4Qs DPU : 5.03ct = 1.26ct (Dec16) + 1.30ct (Sep16) + 1.29ct (Jun16) + 1.18ct (Mar17)
- AIMSAMPReit : Above Yield is Computed using last 4Qs DPU : 11.05ct = 2.77ct (Dec16) + 2.75ct (Sep16) + 2.75ct (Jun16) + 2.78ct (Mar17)
- MGCCT : Above Yield is Computed Using latest 4Qs DPU = 7.341ct = 3.61ct (1H17) + 3.731ct 2H17)
- Suntec : Above Yield is Computed Using latest 4Qs DPU = 10.057ct = 2.596ct (Q416) + 2.535ct (Q316) + 2.501ct (Q216) + 2.425ct (Q117)
- CDL H-Trust : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield is Computed using last 4Qs DPU : 10.2ct = 2.42ct (Q117) + 5.55ct (2H16) + 2.23ct (Q216)
- A-REIT : DPU Payout = 1.959ct (16-Feb-17 to 31-Mar-17) as Advanced DPU = 5.886ct (1-Oct-16 to 15-Feb-17) Already Paid ; Above Yield is Computed Using latest 4Qs DPU = 15.636ct = 7.791ct (1H17) + 3.993ct (Q317) + 3.852ct (Q417)
- MCT : Above Yield is Computed using last 4Qs DPU : 8.62ct = 2.28ct (Dec16) + 2.05ct (Sep16) + 2.03ct (Jun16) + 2.26ct (Mar17)
- PLife : Above Yield is Computed Using Recurring DPU = 3.06ct ie Excl. 0.22ct Divestment Gain (1st of 4 Tranches)
- FCT : Above Yield is Computed using last 4Qs DPU : 11.785ct = 2.89ct (Dec16) + 2.815ct (Sep16) + 3.040ct (Jun16) + 3.040ct (Mar17) ; Jun16 DPU Incl. $2.1M Retained in Prior Qs
- ESR-REIT : Annualised DPU = 4.016ct (Name changed from Cambridge to ESR-REIT with effective of 21 Jun 2017)
- CRCT : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield Uses Latest 4Qs DPU = 4.73ct (2H16) + 2.61ct (Q216) + 2.74ct (Q117) = 10.08ct
- AscottREIT : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield Uses Latest 4Qs DPU = 4.392ct (2H16) + 2.115ct (Q216) + 2.74ct (Q117) = 8.017ct
- FCOT : Annualised DPU = 10.16ct ; Includes $867k from Capital Gains (Hotel)
- CLT : Annualised DPU = 7.3ct
- CMT : Above Yield Uses Latest 4Qs DPU = 2.73ct (Mar17) + 2.88ct (Dec16) + 2.78ct (Sep16) + 2.74ct (Jun16) = 11.13ct
- CCT : DPU Not Paid as Semi-Annual Payout Policy
- Keppel DC REIT : DPU Not Paid as Semi-Annual Payout Policy ; Above Uses DPU = 1.74ct (Excludes One-Off Capital Distribution = 0.15ct) for Yield Computation
- FirstREIT : Annualised DPU = 8.68ct
- SPHREIT : Above Yield is Computed using last 4Qs DPU = 1.34ct (Nov16) + 1.41ct (Aug16) + 1.36ct (May16) + 1.40ct (Feb17) =5.51ct
- IREIT Global : DPU 100% Hedged @ €1 : S$1.55 for FY17
- 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 |
Q1 – Mar17 |
$0.078 |
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$1.3759 : US$1 fm Yahoo Finance)
- Rickmers : DPU Suspended fm Q315 ; Trading suspension on 15 Nov 2016, pending resolution of restructuring efforts
- 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 |
Q1 – Mar17 |
$0.565 |
0.930 |
6.584% |
$0.311 |
Infrastructure |
| Ascendas-iTrust |
2H – Mar17 |
$1.135 |
2.960 |
5.216% |
$0.810 |
India – Industrial Park (7) |
| Indiabulls Trust |
2H – Mar16 |
$0.255 |
0.000 |
0.250% |
$1.710 |
India – Office |
| HPH Trust USD |
2H – Dec16 |
$0.430 |
16.600 |
9.116% |
HK$4.57 |
Ports – HK (40%) + China (60%) by Revenue |
| RHT HealthTrust |
Q3 – Dec16 |
$0.895 |
1.250 |
5.587% |
$0.838 |
India – Healthcare (18) |
| Croesus Rtrust |
Q3 – Mar17 |
$1.180 |
2.050 |
7.042% |
Y76.43 |
Japan – Retail (11) |
| Asian Pay TV Tr |
Q1 – Mar17 |
$0.570 |
1.625 |
11.404% |
$0.870 |
Taiwan PayTV |
| Accordia Golf Tr |
2H – Mar17 |
$0.715 |
3.590 |
8.448% |
$0.910 |
Japan Golf Courses – 89 |
| Dasin Retail Tr |
FY17 – IPO |
$0.805 |
6.800 |
8.447% |
$1.023 |
China – Retail |
NOTES :
- CroesusRT : Exchange Rate Y100 = S$1.2277 ; Annualised DPU = 8.31ct ; Hedged Rate – FY17 @ Y83.57 ; FY18 @ Y76.39 ; FY19 @ Y72.72
- HPH Trust : DPU Not Declared as Semi-Annual Payout Policy ; DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.8064 : US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun16) = HK14.0ct + 2H (Dec16) = HK16.6ct
- APTT : Above Yield uses DPU = 6.5ct as FY17 Guidance = 6.5ct ie 1.625ct / Q
- RHT : 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)
-
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 : Halted from 23-Jun-16 as Free Float is Only 3% ; Yield Computed Using 0ct (2H16) + 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
-
Indiabulls : Maiden DPU on 1H (Sep12) Declared since Listing on 11-Jun-08
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