Category: Yield

 

January 2021





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Results Announcement:

REITs :

 REIT  Period  Mkt  DPU cts  Yield  NAV  Gearing  Assets Type

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Other Trusts (non-REITs)

 Trust  Period  Mkt  DPU cts  Yield  NAV  Assets Type

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March 31, 2020 Yield Comments Off on January 2021

March 2018

REITs : Average Yield = 6.392%

REIT

Period

Mkt

DPU cts

Yield

NAV

Gearing

Assets Type

SoilbuildBizREIT

Q4 – Dec17

$0.650

1.3830

8.511%

$0.640

40.60%

 Industrial (12) : Business Park 34% + Industrial 66% by NPI
Viva Ind Tr

Q4 – Dec17

$0.885

1.8570

8.324%

$0.765

39.80%

 Industrial (9) : Biz Park (52.2%) + Light Industrial (20.6%) + Logistics (16.6%) + Hotel (10.6%) by NPI
Lippo Malls Tr

Q4 – Dec17

$0.385

0.7900

8.208%

$0.320

33.70%

 Retail (Indonesia) – 23
EC World Reit

Q4 – Dec17

$0.740

1.5040

8.130%

$0.910

29.20%

 Port, Warehouse & e-Commerce Infrastructure in China
CromwellReit EUR

FY18 – IPO

$0.550

4.3000

7.818%

$0.530

36.80%

 Offices + Industrial : Europe (74)
Sabana REIT

Q4 – Dec17

$0.425

0.8300

7.741%

$0.530

38.20%

 Industrial (20)
AIMSAMP Cap Reit

Q3 – Dec17

$1.360

2.6200

7.684%

$1.351

33.80%

 Industrial (27) : Singapore + Australia
Cache Log Trust

Q4 – Dec17

$0.835

1.5970

7.650%

$0.716

36.30%

 Industrial (19) : Singapore (83%) + Australia (16%) + China (1%) by Gross Revenue
IREIT Global

2H – Dec17

$0.790

2.8800

7.291%

$0.682

40.30%

 Offices : Germany (5)
BHG Retail Reit

2H – Dec17

$0.770

2.7300

7.091%

$0.830

32.20%

 Retail (China) – 5
ESR-REIT

Q4 – Dec17

$0.535

0.9290

6.946%

$0.593

39.60%

 Industrial (48)
FHT

Q1 – Dec17

$0.770

1.3107

6.809%

$0.787

33.00%

 Hotel (9) + Serviced Apt (6) : Australia (40%) + Singapore (21%) + UK (13%) + Japan (15%) + Malaysia (6%) + Germany (5%) by NPI
Kep-KBS Reit USD

FY18 – IPO

$0.880

5.9700

6.784%

$0.840

36.00%

 Offices : USA (11)
Ascendas-hTrust

Q3 – Dec17

$0.815

1.4100

6.761%

$0.860

33.20%

 Hotels (11) : Australia (54%) + Japan (24%) + Singapore (13%) + China (8%) by NPI
Frasers Com Tr

Q1 – Dec17

$1.430

2.4000

6.657%

$1.550

34.80%

 Singapore (50.2%) + Australia (49.8%) by NPI
OUE Com Reit

2H – Dec17

$0.705

2.2900

6.624%

$0.910

37.30%

 Office (84.3%) + Retail (15.7%) by NPI ; Singapore (79.2%) + China (20.8%) by Revenue
Frasers L&I Tr

Q1 – Dec17

$1.090

1.8000

6.606%

$0.910

30.90%

 Industrial (Australia) – 61
Mapletree GCC Tr

Q3 – Dec17

$1.150

1.8680

6.552%

$1.228

39.30%

 Retail + Office : HK (68.8%) + China (31.2%) by NPI ; Retail (61.4%) + Office (37.1%) by NPI
CapitaR China Tr

2H – Dec17

$1.580

4.7400

6.392%

$1.590

28.40%

 Retail (China) – 10
StarhillGbl Reit

Q2 – Dec17

$0.730

1.1700

6.356%

$0.910

35.30%

 Retail (88.7%) + Office (11.3%) : Singapore (62.5%) + Australia (22.1%) + Malaysia (13.2%) + Others (2.2%) by Revenue
Ascott Reit

2H – Dec17

$1.130

3.7300

6.271%

$1.210

36.20%

 Serviced Apts (75) : Asia Pacific (62.3%) + Europe (26.1%) + US (11.6%) by Assets
OUE Htrust

Q4 – Dec17

$0.825

1.2700

6.230%

$0.760

38.80%

 Hotel (79%) + Retail (21%) by NPI
First REIT

Q4 – Dec17

$1.380

2.1500

6.210%

$1.015

33.60%

 Hospitals (15 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3)
Mapletree Log Tr

Q3 – Dec17

$1.230

1.9070

6.202%

$1.050

37.80%

 Industrial (124)
Ascendas Reit

Q3 – Dec17

$2.630

3.9700

6.057%

$2.030

35.20%

 Industrial (132) : Singapore (84%) + Australia (16%) by Valuation
Mapletree Com Tr

Q3 – Dec17

$1.570

2.3000

5.752%

$1.370

36.30%

 Retail + Office
Mapletree Ind Tr

Q3 – Dec17

$2.030

2.8800

5.675%

$1.420

33.80%

 Industrial (85) + US Data Centres (14)
Far East HTrust

Q4 – Dec17

$0.695

0.9700

5.612%

$0.869

34.40%

 Hotels 8 (66%) + Commercial (21.8%) + Serviced Apts 4 (12.2%) by Revenue
SPHREIT

Q1 – Nov17

$0.995

1.3400

5.558%

$0.940

25.40%

 Retail (2)
Frasers Cpt Tr

Q1 – Dec17

$2.190

3.0000

5.484%

$2.020

29.40%

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

2H – Dec17

$1.690

5.1200

5.456%

$1.530

32.60%

 Hotels : Singapore (55.7%) + NZ (12.2%) + Australia (87%) + UK (10.1%) + Maldives (5.2%) + Japan (2.4%) + Germany (5.7%)by NPI
ManulifeREIT USD

2H – Dec17

$0.930

2.5700

5.423%

$0.800

33.70%

 Offices : USA (5)
CapitaMall Trust

Q4 – Dec17

$2.080

2.9000

5.365%

$1.920

34.20%

 Retail (16) + Office
Suntec Reit

Q4 – Dec17

$1.890

2.6040

5.294%

$2.093

36.40%

 Office (68%) + Retail (27%) + Convention (5%) by Income
Fortune Reit HKD

2H – Dec17

$9.710

25.2500

5.201%

$14.050

27.40%

 Retail (HK) – 17
Keppel DC REIT

2H – Dec17

$1.440

3.4900

4.847%

$0.930

32.10%

 Data Centres – 13 + 1 (Under Devt)
Keppel Reit

Q4 – Dec17

$1.210

1.4300

4.727%

$1.400

38.70%

 Office (8) : Singapore (81.2%) + Australia (18.8%) by Income
ParkwayLife Reit

Q4 – Dec17

$2.800

3.3800

4.500%

$1.730

36.40%

 Hospitals + Nursing Homes = 49 : Singapore 61.2% + Japan 38.4% by Gross Revenue
CapitaCom Trust

2H – Dec17

$1.830

4.100

4.481%

$1.740

37.30%

 Office (74%) + Retail (15%) + Hotel (11%) by Gross Rental Income

NOTES :

  • Mkt Price is as on 31-Mar-18
  • FE-HTrust : Above Yield is Computed using last 4Qs DPU : 3.9ct = 0.97ct (Dec17) + 1.03ct (Sep17) + 0.97ct (Jun17) + 0.93ct (Mar17)
  • Manulife REIT : For the Period 30-Jun-17 to 31-Dec-17
  • A-HTrust : Above Yield is Computed Using latest 4Qs DPU = 5.51ct = 2.73ct (1H18) + 1,7ct (Q417) + 1.41ct (Q318)
  • AIMSAMPReit : DPU = 0.71ct (1-Dec-17 to 31-Dec-17) + 1.91ct (1-Oct-17 to 30-Nov-17) Advanced DPU Paid ; Above Yield is Computed using last 4Qs DPU : 10.45ct = 2.62ct (Dec17) + 2.55ct (Sep17) + 2.5ct (Jun17) + 2.78ct (Mar17)
  • OUE C-REIT : Above Yield is Computed using last 4Qs DPU : 4.67ct = 2.29ct (2h17) + 2.38ct (1H17)
  • CRCT : Above Yield Uses Latest 4Qs DPU = 4.74ct (2H17) + 5.36ct (1H17) = 10.10ct ; 2H17 DPU = 0.83ct (7-Dec-17 to 31-Dec-17) + 3.91ct (1-Oct-17 to 6-Dec-17) Advanced DPU Already Paid
  • OUE-HTrust : Above Yield is Computed using last 4Qs DPU : 5.14ct = 1.27ct (Dec17) + 1.36ct (Sep17) + 1.21ct (Jun17) + 1.30ct (Mar17)
  • YTL StarHill : Annualised DPU = 4.64ct
  • FLT : DPU Not Paid as Semi-Annual Payout Policy
  • CDL H-Trust : Above Yield is Computed using last 4Qs DPU : 9.22ct = 5.12ct (2H17) + 4.1ct (1H17)
  • VIT : Annualised DPU = 7.367ct
  • PLife : Above Yield is Computed Using Recurring DPU = 3.15ct ie Excl. 0.23ct Divestment Gain (4th of 4 Tranches)
  • AscottREIT : Above Yield Uses Latest 4Qs DPU = 3.356ct (1H17) + 3.73ct (2H17) = 7.086ct
  • Sabana : Annualised DPU = 3.29ct
  • MGCCT : Above Yield is Computed Using latest 4Qs DPU : 7.535ct = 3.714ct (1H18) + 3.731ct (2H17) ; DPU Not Paid as Semi-Annual Payout Policy
  • A-REIT : Above Yield is Computed Using latest 4Qs DPU = 15.93ct = 4.049ct (Q118) + 3.97ct (Q318) + 3.852ct (Q417) + 4.059ct (Q218) ; DPU Not Paid as Semi-Annual Payout Policy
  • FHT : DPU Not Paid as Semi-Annual Payout Policy
  • MCT : Above Yield is Computed using last 4Qs DPU : 9.03ct = 2.30ct (Dec17) + 2.24ct (Sep17) + 2.23ct (Jun17) + 2.26ct (Mar17)
  • Suntec : Above Yield is Computed Using latest 4Qs DPU = 10.005ct = 2.604ct (Q417) + 2.483ct (Q317) + 2.493ct (Q217) + 2.425ct (Q117)
  • CMT : Above Yield Uses Latest 4Qs DPU = 2.73ct (Mar17) + 2.9ct (Dec17) + 2.78ct (Sep17) + 2.75ct (Jun17) = 11.16ct
  • MIT : DPU = 2.88ct = 1.89ct (2-Nov-17 to 31-Dec-17) + 0.99ct (1-Oct-17 to 1-Nov-17) Advanced DPU already Paid
  • FCT : Above Yield is Computed using last 4Qs DPU : 12.01ct = 3.00ct (Dec17) + 2.97ct (Sep17) + 3.00ct (Jun17) + 3.040ct (Mar17) ; Jun16 DPU Incl. $2.1M Retained in Prior Qs
  • MLT : DPU = 2.088ct = 1.907ct (1-Oct-17 to 31-Dec-17) + 0.181ct (22-Sep-17 to 30-Sep-17)
  • FCOT : Annualised DPU = 9.52ct
  • FirstREIT : Annualised DPU = 8.57ct
  • SPHREIT : Above Yield is Computed using last 4Qs DPU = 1.34ct (Nov17) + 1.42ct (Aug17) + 1.37ct (May17) + 1.40ct (Feb17) =5.53ct
  • IREIT Global : DPU 100% Hedged @ €1 : S$1.55 for FY17 ; 80% Hedged @ €1 : S$1.63 for FY18
  • 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 – Dec17

$0.085

0.00

0.000%

$0.270

Shipping Trust

NOTES :

  • All in US$ except for FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3603 : US$1 fm Yahoo Finance)
  • Rickmers : Delisted on 27-Jul-17 9am
  • 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 – Dec17

$0.535

0.930

6.953%

$0.290

Infrastructure
Ascendas-iTrust

Q3 – Dec17

$1.010

1.640

6.495%

$0.790

India – Industrial Park (7)
HPH Trust USD

2H – Dec17

$0.295

11.100

8.953%

HK$4.51

 Ports – HK (38%) + China (62%) by Revenue
RHT HealthTrust

Q3 – Dec17

$0.810

1.220

6.025%

$0.839

India – Healthcare (18)
Asian Pay TV Tr

Q4 – Dec17

$0.530

1.625

12.264%

$0.830

Taiwan PayTV
Accordia Golf Tr

Q3 – Dec17

$0.645

1.700

7.519%

$0.890

Japan Golf Courses – 89
Dasin Retail Tr

2H – Dec17

$0.880

4.150

9.432%

$1.530

China – Retail (4)
NetLink NBN Tr

FY18 – IPO

$0.815

2.930

5.400%

$0.810

Fibre Network Infrastructure

NOTES :

  • IndiaBull : Delisted on 11-Dec-17 9am
  • CroesusRT : Delisted on 26-Oct-17
  • Accordia : Above Yield Computed Using DPU = 4.85ct = 1.7ct (Q318 – Dec17) + 1.65ct (1H18 – Sep17) + 1.5ct (Q417 – Mar17)
  • APTT : Above Yield uses DPU = 6.5ct as FY18 Guidance = 6.5ct ie 1.625ct / Q
  • HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7995 : US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun17) = HK9.5ct + 2H (Dec17) = HK11.1ct
  • a-iTrust : DPU Not Paid as Semi-Annual Payout Policy
  • Dasin : 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
  • 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
March 31, 2018 Yield Comments Off on March 2018

February 2018

Results Announcement

  • 1 Feb 18 (AM) : AIMSAMPReit
  • 1 Feb 18 : A-HTrust
  • 5 Feb 18 : HPHT
  • 6 Feb 18 (AM) : Manulife US REIT
  • 8 Feb 18 : RHT
  • 13 Feb 18 : LMIR
  • 13 Feb 18 : Accordia
  • 14 Feb 18 : IREIT GLobal
  • 15 Feb 18 (AM) : FE-Htrust
  • 23 Feb 18 : BHG
  • 26 Feb 18 (AM) : APTT
  • 27 Feb 18 : Dasin
  • 28 Feb 18 : EC World

REITs : Average Yield = 6.386%

REIT

Period

Mkt

DPU cts

Yield

NAV

Gearing

Assets Type

SoilbuildBizREIT

Q4 – Dec17

$0.645

1.3830

8.577%

$0.640

40.60%

 Industrial (12) : Business Park 34% + Industrial 66% by NPI
Viva Ind Tr

Q4 – Dec17

$0.870

1.8570

8.468%

$0.765

39.80%

 Industrial (9) : Biz Park (52.2%) + Light Industrial (20.6%) + Logistics (16.6%) + Hotel (10.6%) by NPI
Sabana REIT

Q4 – Dec17

$0.395

0.8300

8.329%

$0.530

38.20%

 Industrial (20)
Lippo Malls Tr

Q4 – Dec17

$0.395

0.7900

8.000%

$0.320

33.70%

 Retail (Indonesia) – 23
EC World Reit

Q4 – Dec17

$0.760

1.5040

7.916%

$0.910

29.20%

 Port, Warehouse & e-Commerce Infrastructure in China
CromwellReit EUR

FY18 – IPO

$0.550

4.3000

7.818%

$0.530

36.80%

 Offices + Industrial : Europe (74)
Cache Log Trust

Q4 – Dec17

$0.835

1.5970

7.650%

$0.716

36.30%

 Industrial (19) : Singapore (83%) + Australia (16%) + China (1%) by Gross Revenue
AIMSAMP Cap Reit

Q3 – Dec17

$1.370

2.6200

7.628%

$1.351

33.80%

 Industrial (27) : Singapore + Australia
IREIT Global

2H – Dec17

$0.805

2.8800

7.155%

$0.682

40.30%

 Offices : Germany (5)
BHG Retail Reit

2H – Dec17

$0.770

2.7300

7.091%

$0.830

32.20%

 Retail (China) – 5
FHT

Q1 – Dec17

$0.780

1.3107

6.722%

$0.787

33.00%

 Hotel (9) + Serviced Apt (6) : Australia (40%) + Singapore (21%) + UK (13%) + Japan (15%) + Malaysia (6%) + Germany (5%) by NPI
OUE Com Reit

2H – Dec17

$0.700

2.2900

6.671%

$0.910

37.30%

 Office (84.3%) + Retail (15.7%) by NPI ; Singapore (79.2%) + China (20.8%) by Revenue
Kep-KBS Reit USD

FY18 – IPO

$0.895

5.9700

6.670%

$0.840

36.00%

 Offices : USA (11)
Frasers Com Tr

Q1 – Dec17

$1.430

2.4000

6.657%

$1.550

34.80%

 Singapore (50.2%) + Australia (49.8%) by NPI
Frasers L&I Tr

Q1 – Dec17

$1.090

1.8000

6.606%

$0.910

30.90%

 Industrial (Australia) – 61
Ascendas-hTrust

Q3 – Dec17

$0.845

1.4100

6.521%

$0.860

33.20%

 Hotels (11) : Australia (54%) + Japan (24%) + Singapore (13%) + China (8%) by NPI
ESR-REIT

Q4 – Dec17

$0.570

0.9290

6.519%

$0.593

39.60%

 Industrial (48)
Mapletree Log Tr

Q3 – Dec17

$1.200

1.9070

6.357%

$1.050

37.80%

 Industrial (124)
StarhillGbl Reit

Q2 – Dec17

$0.730

1.1700

6.356%

$0.910

35.30%

 Retail (88.7%) + Office (11.3%) : Singapore (62.5%) + Australia (22.1%) + Malaysia (13.2%) + Others (2.2%) by Revenue
Mapletree GCC Tr

Q3 – Dec17

$1.190

1.8680

6.332%

$1.228

39.30%

 Retail + Office : HK (68.8%) + China (31.2%) by NPI ; Retail (61.4%) + Office (37.1%) by NPI
CapitaR China Tr

2H – Dec17

$1.600

4.7400

6.313%

$1.590

28.40%

 Retail (China) – 10
First REIT

Q4 – Dec17

$1.360

2.1500

6.301%

$1.015

33.60%

 Hospitals (15 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3)
Ascott Reit

2H – Dec17

$1.170

3.7300

6.056%

$1.210

36.20%

 Serviced Apts (75) : Asia Pacific (62.3%) + Europe (26.1%) + US (11.6%) by Assets
Ascendas Reit

Q3 – Dec17

$2.650

3.9700

6.011%

$2.030

35.20%

 Industrial (132) : Singapore (84%) + Australia (16%) by Valuation
OUE Htrust

Q4 – Dec17

$0.860

1.2700

5.977%

$0.760

38.80%

 Hotel (79%) + Retail (21%) by NPI
Mapletree Ind Tr

Q3 – Dec17

$1.960

2.8800

5.878%

$1.420

33.80%

 Industrial (85) + US Data Centres (14)
Mapletree Com Tr

Q3 – Dec17

$1.570

2.3000

5.752%

$1.370

36.30%

 Retail + Office
Far East HTrust

Q4 – Dec17

$0.700

0.9700

5.571%

$0.869

34.40%

 Hotels 8 (66%) + Commercial (21.8%) + Serviced Apts 4 (12.2%) by Revenue
CDL Htrust

2H – Dec17

$1.660

5.1200

5.554%

$1.530

32.60%

 Hotels : Singapore (55.7%) + NZ (12.2%) + Australia (87%) + UK (10.1%) + Maldives (5.2%) + Japan (2.4%) + Germany (5.7%)by NPI
ManulifeREIT USD

2H – Dec17

$0.910

2.5700

5.542%

$0.800

33.70%

 Offices : USA (5)
SPHREIT

Q1 – Nov17

$1.000

1.3400

5.530%

$0.940

25.40%

 Retail (2)
CapitaMall Trust

Q4 – Dec17

$2.020

2.9000

5.525%

$1.920

34.20%

 Retail (16) + Office
Fortune Reit HKD

2H – Dec17

$9.200

25.2500

5.489%

$14.050

27.40%

 Retail (HK) – 17
Frasers Cpt Tr

Q1 – Dec17

$2.210

3.0000

5.434%

$2.020

29.40%

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

Q4 – Dec17

$1.980

2.6040

5.053%

$2.093

36.40%

 Office (68%) + Retail (27%) + Convention (5%) by Income
Keppel DC REIT

2H – Dec17

$1.400

3.4900

4.986%

$0.930

32.10%

 Data Centres – 13 + 1 (Under Devt)
Keppel Reit

Q4 – Dec17

$1.180

1.4300

4.847%

$1.400

38.70%

 Office (8) : Singapore (81.2%) + Australia (18.8%) by Income
CapitaCom Trust

2H – Dec17

$1.730

4.1000

4.740%

$1.740

37.30%

 Office (74%) + Retail (15%) + Hotel (11%) by Gross Rental Income
ParkwayLife Reit

Q4 – Dec17

$2.820

3.380

4.468%

$1.730

36.40%

 Hospitals + Nursing Homes = 49 : Singapore 61.2% + Japan 38.4% by Gross Revenue

NOTES :

  • Mkt Price is as on 28-Feb-18
  • FE-HTrust : Above Yield is Computed using last 4Qs DPU : 3.9ct = 0.97ct (Dec17) + 1.03ct (Sep17) + 0.97ct (Jun17) + 0.93ct (Mar17)
  • Manulife REIT : For the Period 30-Jun-17 to 31-Dec-17
  • A-HTrust : Above Yield is Computed Using latest 4Qs DPU = 5.51ct = 2.73ct (1H18) + 1,7ct (Q417) + 1.41ct (Q318)
  • AIMSAMPReit : DPU = 0.71ct (1-Dec-17 to 31-Dec-17) + 1.91ct (1-Oct-17 to 30-Nov-17) Advanced DPU Paid ; Above Yield is Computed using last 4Qs DPU : 10.45ct = 2.62ct (Dec17) + 2.55ct (Sep17) + 2.5ct (Jun17) + 2.78ct (Mar17)
  • OUE C-REIT : Above Yield is Computed using last 4Qs DPU : 4.67ct = 2.29ct (2h17) + 2.38ct (1H17)
  • CRCT : Above Yield Uses Latest 4Qs DPU = 4.74ct (2H17) + 5.36ct (1H17) = 10.10ct ; 2H17 DPU = 0.83ct (7-Dec-17 to 31-Dec-17) + 3.91ct (1-Oct-17 to 6-Dec-17) Advanced DPU Already Paid
  • OUE-HTrust : Above Yield is Computed using last 4Qs DPU : 5.14ct = 1.27ct (Dec17) + 1.36ct (Sep17) + 1.21ct (Jun17) + 1.30ct (Mar17)
  • YTL StarHill : Annualised DPU = 4.64ct
  • FLT : DPU Not Paid as Semi-Annual Payout Policy
  • CDL H-Trust : Above Yield is Computed using last 4Qs DPU : 9.22ct = 5.12ct (2H17) + 4.1ct (1H17)
  • VIT : Annualised DPU = 7.367ct
  • PLife : Above Yield is Computed Using Recurring DPU = 3.15ct ie Excl. 0.23ct Divestment Gain (4th of 4 Tranches)
  • AscottREIT : Above Yield Uses Latest 4Qs DPU = 3.356ct (1H17) + 3.73ct (2H17) = 7.086ct
  • Sabana : Annualised DPU = 3.29ct
  • MGCCT : Above Yield is Computed Using latest 4Qs DPU : 7.535ct = 3.714ct (1H18) + 3.731ct (2H17) ; DPU Not Paid as Semi-Annual Payout Policy
  • A-REIT : Above Yield is Computed Using latest 4Qs DPU = 15.93ct = 4.049ct (Q118) + 3.97ct (Q318) + 3.852ct (Q417) + 4.059ct (Q218) ; DPU Not Paid as Semi-Annual Payout Policy
  • FHT : DPU Not Paid as Semi-Annual Payout Policy
  • MCT : Above Yield is Computed using last 4Qs DPU : 9.03ct = 2.30ct (Dec17) + 2.24ct (Sep17) + 2.23ct (Jun17) + 2.26ct (Mar17)
  • Suntec : Above Yield is Computed Using latest 4Qs DPU = 10.005ct = 2.604ct (Q417) + 2.483ct (Q317) + 2.493ct (Q217) + 2.425ct (Q117)
  • CMT : Above Yield Uses Latest 4Qs DPU = 2.73ct (Mar17) + 2.9ct (Dec17) + 2.78ct (Sep17) + 2.75ct (Jun17) = 11.16ct
  • MIT : DPU = 2.88ct = 1.89ct (2-Nov-17 to 31-Dec-17) + 0.99ct (1-Oct-17 to 1-Nov-17) Advanced DPU already Paid
  • FCT : Above Yield is Computed using last 4Qs DPU : 12.01ct = 3.00ct (Dec17) + 2.97ct (Sep17) + 3.00ct (Jun17) + 3.040ct (Mar17) ; Jun16 DPU Incl. $2.1M Retained in Prior Qs
  • MLT : DPU = 2.088ct = 1.907ct (1-Oct-17 to 31-Dec-17) + 0.181ct (22-Sep-17 to 30-Sep-17)
  • FCOT : Annualised DPU = 9.52ct
  • FirstREIT : Annualised DPU = 8.57ct
  • SPHREIT : Above Yield is Computed using last 4Qs DPU = 1.34ct (Nov17) + 1.42ct (Aug17) + 1.37ct (May17) + 1.40ct (Feb17) =5.53ct
  • IREIT Global : DPU 100% Hedged @ €1 : S$1.55 for FY17 ; 80% Hedged @ €1 : S$1.63 for FY18
  • 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 – Dec17

$0.087

0.00

0.000%

$0.270

Shipping Trust

NOTES :

  • All in US$ except for FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3603 : US$1 fm Yahoo Finance)
  • Rickmers : Delisted on 27-Jul-17 9am
  • 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 – Dec17

$0.565

0.930

6.584%

$0.290

Infrastructure
Ascendas-iTrust

Q3 – Dec17

$1.000

1.640

6.560%

$0.790

India – Industrial Park (7)
HPH Trust USD

2H – Dec17

$0.365

11.100

7.236%

HK$4.51

 Ports – HK (38%) + China (62%) by Revenue
RHT HealthTrust

Q3 – Dec17

$0.785

1.220

6.217%

$0.839

India – Healthcare (18)
Asian Pay TV Tr

Q4 – Dec17

$0.570

1.625

11.404%

$0.830

Taiwan PayTV
Accordia Golf Tr

Q3 – Dec17

$0.645

1.700

7.519%

$0.890

Japan Golf Courses – 89
Dasin Retail Tr

2H – Dec17

$0.865

4.150

9.595%

$1.530

China – Retail (4)
NetLink NBN Tr

FY18 – IPO

$0.825

2.930

5.335%

$0.810

Fibre Network Infrastructure

NOTES :

  • IndiaBull : Delisted on 11-Dec-17 9am
  • CroesusRT : Delisted on 26-Oct-17
  • Accordia : Above Yield Computed Using DPU = 4.85ct = 1.7ct (Q318 – Dec17) + 1.65ct (1H18 – Sep17) + 1.5ct (Q417 – Mar17)
  • APTT : Above Yield uses DPU = 6.5ct as FY18 Guidance = 6.5ct ie 1.625ct / Q
  • HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7995 : US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun17) = HK9.5ct + 2H (Dec17) = HK11.1ct
  • a-iTrust : DPU Not Paid as Semi-Annual Payout Policy
  • Dasin : 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
  • 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
February 28, 2018 Yield Comments Off on February 2018

January 2018

 

Results Announcement

  • 5 Jan 18 : SPHREIT
  • 17 Jan 18 (AM) : ESR REIT
  • 17 Jan 18 : FirstREIT
  • 17 Jan 18 : SB REIT
  • 18 Jan 18 : CLT
  • 22 Jan 18 : FCOT
  • 22 Jan 18 : MLT
  • 22 Jan 18 : Keppel DC
  • 22 Jan 18 : KIT
  • 23 Jan 18 : Keppel REIT
  • 23 Jan 18 : FCT
  • 23 Jan 18 : MIT
  • 23 Jan 18 : Fortune
  • 24 Jan 18 (AM) : CMT
  • 24 Jan 18 (AM) : Suntec
  • 24 Jan 18 : MCT
  • 24 Jan 18 : FHT
  • 25 Jan 18 (AM) : CCT
  • 25 Jan 18 : A-REIT
  • 25 Jan 18 : MGCCT
  • 25 Jan 18 : Sabana
  • 25 Jan 18 : FLT
  • 26 Jan 18 (AM) : VIT
  • 26 Jan 18 (AM) : PLife
  • 26 Jan 18 (AM) : AscottREIT
  • 26 Jan 18 (AM) : CDL H-Trust
  • 29 Jan 18 : YTL Starhill
  • 30 Jan 18 : OUE H-Trust
  • 31 Jan 18 (AM) : CRCT
  • 31 Jan 18 : OUE C-REIT

 

 

REITs : Average Yield = 6.144% (Excludes Saizen)

REIT

Period

Mkt

DPU cts

Yield

NAV

Gearing

Assets Type

SoilbuildBizREIT

Q4 – Dec17

$0.675

1.3830

8.196%

$0.640

40.60%

Industrial (12) : Business Park 34% + Industrial 66% by NPI

Lippo Malls Tr

Q3 – Sep17

$0.420

0.8600

8.190%

$0.354

28.70%

Retail (Indonesia) – 21

Sabana REIT

Q4 – Dec17

$0.405

0.8300

8.123%

$0.530

38.20%

Industrial (20)

CromwellReit EUR

FY18 – IPO

$0.550

4.3000

7.818%

$0.530

36.80%

Offices + Industrial : Europe (74)

AIMSAMP Cap Reit

Q2 – Sep17

$1.370

2.5500

7.737%

$1.364

37.30%

Industrial (27) : Singapore + Australia

Viva Ind Tr

Q4 – Dec17

$0.965

1.8570

7.634%

$0.765

39.80%

Industrial (9) : Biz Park (52.2%) + Light Industrial (20.6%) + Logistics (16.6%) + Hotel (10.6%) by NPI

Cache Log Trust

Q4 – Dec17

$0.865

1.5970

7.385%

$0.716

36.30%

Industrial (19) : Singapore (83%) + Australia (16%) + China (1%) by Gross Revenue

EC World Reit

Q3 – Sep17

$0.785

1.4400

7.338%

$0.890

29.20%

Port, Warehouse & e-Commerce Infrastructure in China

BHG Retail Reit

Q3 – Sep17

$0.770

1.4100

7.325%

$0.830

32.50%

Retail (China) – 5

IREIT Global

Q3 – Sep17

$0.810

1.4200

7.012%

$0.666

41.70%

Offices : Germany (5)

ManulifeREIT USD

Q3 – Sep17

$0.980

1.6000

6.531%

$0.840

33.10%

Offices : USA (4)

Kep-KBS Reit USD

FY18 – IPO

$0.915

5.9700

6.525%

$0.840

36.00%

Offices : USA (11)

Frasers Com Tr

Q1 – Dec17

$1.460

2.4000

6.521%

$1.550

34.80%

Singapore (50.2%) + Australia (49.8%) by NPI

FHT

Q1 – Dec17

$0.810

1.3107

6.473%

$0.787

33.00%

Hotel (9) + Serviced Apt (6) : Australia (40%) + Singapore (21%) + UK (13%) + Japan (15%) + Malaysia (6%) + Germany (5%) by NPI

Ascendas-hTrust

1H – Sep17

$0.900

2.7300

6.378%

$0.890

32.60%

Hotels (11) : Australia (52%) + Japan (26%) + Singapore (13%) + China (10%) by NPI

Frasers L&I Tr

Q1 – Dec17

$1.140

1.8000

6.316%

$0.910

30.90%

Industrial (Australia) – 61

ESR-REIT

Q4 – Dec17

$0.590

0.9290

6.298%

$0.593

39.60%

Industrial (48)

OUE Com Reit

2H – Dec17

$0.750

2.2900

6.227%

$0.910

37.30%

Office (84.3%) + Retail (15.7%) by NPI ; Singapore (79.2%) + China (20.8%) by Revenue

First REIT

Q4 – Dec17

$1.410

2.1500

6.078%

$1.015

33.60%

Hospitals (15 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3)

StarhillGbl Reit

Q2 – Dec17

$0.770

1.1700

6.026%

$0.910

35.30%

Retail (88.7%) + Office (11.3%) : Singapore (62.5%) + Australia (22.1%) + Malaysia (13.2%) + Others (2.2%) by Revenue

Mapletree GCC Tr

Q3 – Dec17

$1.260

1.8680

5.980%

$1.228

39.30%

Retail + Office : HK (68.8%) + China (31.2%) by NPI ; Retail (61.4%) + Office (37.1%) by NPI

CapitaR China Tr

2H – Dec17

$1.690

4.7400

5.976%

$1.590

28.40%

Retail (China) – 10

Ascendas Reit

Q3 – Dec17

$2.760

3.9700

5.772%

$2.030

35.20%

Industrial (132) : Singapore (84%) + Australia (16%) by Valuation

OUE Htrust

Q4 – Dec17

$0.895

1.2700

5.743%

$0.760

38.80%

Hotel (79%) + Retail (21%) by NPI

Ascott Reit

2H – Dec17

$1.260

3.7300

5.624%

$1.210

36.20%

Serviced Apts (75) : Asia Pacific (62.3%) + Europe (26.1%) + US (11.6%) by Assets

Mapletree Log Tr

Q3 – Dec17

$1.370

1.9070

5.568%

$1.050

37.80%

Industrial (124)

Mapletree Ind Tr

Q3 – Dec17

$2.120

2.8800

5.434%

$1.420

33.80%

Industrial (85) + US Data Centres (14)

Mapletree Com Tr

Q3 – Dec17

$1.690

2.3000

5.343%

$1.370

36.30%

Retail + Office

CapitaMall Trust

Q4 – Dec17

$2.100

2.9000

5.314%

$1.920

34.20%

Retail (16) + Office

Far East HTrust

Q3 – Sep17

$0.765

1.0300

5.294%

$0.894

32.10%

Hotels 8 (65.8%) + Commercial (20.3%) + Serviced Apts 4 (13.9%) by Revenue

Frasers Cpt Tr

Q1 – Dec17

$2.270

3.0000

5.291%

$2.020

29.40%

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

SPHREIT

Q1 – Nov17

$1.050

1.3400

5.267%

$0.940

25.40%

Retail (2)

Fortune Reit HKD

2H – Dec17

$9.900

25.2500

5.101%

$14.050

27.40%

Retail (HK) – 17

CDL Htrust

2H – Dec17

$1.820

5.1200

5.066%

$1.530

32.60%

Hotels : Singapore (55.7%) + NZ (12.2%) + Australia (87%) + UK (10.1%) + Maldives (5.2%) + Japan (2.4%) + Germany (5.7%)by NPI

Keppel DC REIT

2H – Dec17

$1.430

3.4900

4.881%

$0.930

32.10%

Data Centres – 13 + 1 (Under Devt)

Suntec Reit

Q4 – Dec17

$2.070

2.6040

4.833%

$2.093

36.40%

Office (68%) + Retail (27%) + Convention (5%) by Income

Keppel Reit

Q4 – Dec17

$1.290

1.4300

4.434%

$1.400

38.70%

Office (8) : Singapore (81.2%) + Australia (18.8%) by Income

CapitaCom Trust

2H – Dec17

$1.870

4.1000

4.385%

$1.740

37.30%

Office (74%) + Retail (15%) + Hotel (11%) by Gross Rental Income

ParkwayLife Reit

Q4 – Dec17

$3.020

3.380

4.172%

$1.730

36.40%

Hospitals + Nursing Homes = 49 : Singapore 61.2% + Japan 38.4% by Gross Revenue

NOTES :

  • Mkt Price is as on 31-Jan-18
  • OUE C-REIT : Above Yield is Computed using last 4Qs DPU : 4.67ct = 2.29ct (2h17) + 2.38ct (1H17)
  • CRCT : Above Yield Uses Latest 4Qs DPU = 4.74ct (2H17) + 5.36ct (1H17) = 10.10ct ; 2H17 DPU = 0.83ct (7-Dec-17 to 31-Dec-17) + 3.91ct (1-Oct-17 to 6-Dec-17) Advanced DPU Already Paid
  • OUE-HTrust : Above Yield is Computed using last 4Qs DPU : 5.14ct = 1.27ct (Dec17) + 1.36ct (Sep17) + 1.21ct (Jun17) + 1.30ct (Mar17)
  • YTL StarHill : Annualised DPU = 4.64ct
  • FLT : DPU Not Paid as Semi-Annual Payout Policy
  • CDL H-Trust : Above Yield is Computed using last 4Qs DPU : 9.22ct = 5.12ct (2H17) + 4.1ct (1H17)
  • VIT : Annualised DPU = 7.367ct
  • PLife : Above Yield is Computed Using Recurring DPU = 3.15ct ie Excl. 0.23ct Divestment Gain (4th of 4 Tranches)
  • AscottREIT : Above Yield Uses Latest 4Qs DPU = 3.356ct (1H17) + 3.73ct (2H17) = 7.086ct
  • Sabana : Annualised DPU = 3.29ct

    
 

Shipping Trusts (non-REITs)

Trust

Period

Mkt

DPU cts

Yield

NAV

Assets Type

FSL Trust

Q2 – Jun17

$0.093

0.00

0.000%

$0.390

Shipping Trust

NOTES :

     
 

Other Trusts (non-REITs)

Trust

Period

Mkt

DPU cts

Yield

NAV

Assets Type

Kep Infra Tr

Q4 – Dec17

$0.570

0.930

6.526%

$0.290

Infrastructure

Ascendas-iTrust

1H – Sep17

$1.140

2.810

4.930%

$0.790

India – Industrial Park (7)

HPH Trust USD

1H – Jun17

$0.415

9.500

8.064%

HK$4.53

Ports – HK (38%) + China (62%) by Revenue

RHT HealthTrust

2H – Jun17

$0.815

2.370

5.585%

$0.845

India – Healthcare (18)

Asian Pay TV Tr

Q3 – Sep17

$0.580

1.625

11.207%

$0.830

Taiwan PayTV

Accordia Golf Tr

1H – Sep17

$0.695

1.650

7.540%

$0.900

Japan Golf Courses – 89

Dasin Retail Tr

Q3 – Sep17

$0.855

2.230

10.433%

$1.510

China – Retail (4)

NetLink NBN Tr

FY18 – IPO

$0.830

2.930

5.302%

$0.800

Fibre Network Infrastructure

NOTES :

January 31, 2018 Yield Comments Off on January 2018

December 2017

REITs : Average Yield = 6.234% (Excludes Saizen)

REIT

Period

Mkt

DPU cts

Yield

NAV

Gearing

Assets Type

Lippo Malls Tr

Q3 – Sep17

$0.400

0.8600

8.600%

$0.354

28.70%

 Retail (Indonesia) – 21
SoilbuildBizREIT

Q3 – Sep17

$0.670

1.3740

8.203%

$0.710

37.90%

 Industrial (12) : Business Park 34% + Industrial 66% by NPI
Viva Ind Tr

Q3 – Sep17

$0.935

1.9000

8.062%

$0.788

39.60%

 Industrial (9) : Biz Park (51.8%) + Light Industrial (21.1%) + Logistics (16.6%) + Hotel (10.5%) by NPI
Sabana REIT

Q3 – Sep17

$0.395

0.7900

7.924%

$0.560

36.00%

 Industrial (20)
AIMSAMP Cap Reit

Q2 – Sep17

$1.360

2.5500

7.794%

$1.364

37.30%

 Industrial (27) : Singapore + Australia
BHG Retail Reit

Q3 – Sep17

$0.740

1.4100

7.622%

$0.830

32.50%

 Retail (China) – 5
EC World Reit

Q3 – Sep17

$0.760

1.4400

7.579%

$0.890

29.20%

 Port, Warehouse & e-Commerce Infrastructure in China
IREIT Global

Q3 – Sep17

$0.775

1.4200

7.329%

$0.666

41.70%

 Offices : Germany (5)
Cache Log Trust

Q3 – Sep17

$0.855

1.5410

7.151%

$0.769

43.60%

 Industrial (19) : Singapore (82%) + Australia (17%) + China (1%) by Gross Revenue
ManulifeREIT USD

Q3 – Sep17

$0.905

1.6000

7.072%

$0.840

33.10%

 Offices : USA (4)
ESR-REIT

Q3 – Sep17

$0.565

0.9640

6.825%

$0.632

36.70%

 Industrial (48)
Ascendas-hTrust

1H – Sep17

$0.860

2.7300

6.674%

$0.890

32.60%

 Hotels (11) : Australia (52%) + Japan (26%) + Singapore (13%) + China (10%) by NPI
OUE Com Reit

Q3 – Sep17

$0.720

1.1500

6.542%

$0.850

36.90%

 Office (86%) + Retail (14%) by NPI ; Singapore (79%) + China (21%) by Revenue
Frasers Com Tr

Q4 – Sep17

$1.490

2.4070

6.462%

$1.580

34.70%

 Singapore (54.4%) + Australia (45.6%) by NPI
FHT

2H – Sep17

$0.785

2.5137

6.404%

$0.816

32.10%

 Hotel (9) + Serviced Apt (6) : Australia (38%) + Singapore (22%) + UK (18%) + Japan (9%) + Malaysia (7%) + Germany (6%) by NPI
CapitaR China Tr

Q3 – Sep17

$1.620

2.3700

6.235%

$1.610

35.40%

 Retail (China) – 10
First REIT

Q3 – Sep17

$1.390

2.1400

6.173%

$1.006

32.60%

 Hospitals (14 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3)
OUE Htrust

Q3 – Sep17

$0.850

1.3600

6.153%

$0.760

38.10%

 Hotel (78%) + Retail (22%) by NPI
StarhillGbl Reit

Q1 – Sep17

$0.775

1.2000

6.142%

$0.910

35.40%

 Retail + Office : Singapore (61.1%) + Australia (23.7%) + Malaysia (11.4%) + Others (2.9%) by Revenue
Frasers L&I Tr

2H – Sep17

$1.160

3.5200

6.069%

$0.940

29.30%

 Industrial (Australia) – 61
Mapletree GCC Tr

1H – Sep17

$1.230

3.7140

6.053%

$1.246

38.50%

 Retail + Office : HK (69.3%) + China (30.7%) by NPI ; Retail (61.4%) + Office (36.6%) by NPI
Mapletree Ind Tr

Q2 – Sep17

$2.030

3.0000

5.911%

$1.410

30.00%

 Industrial (85)
Ascendas Reit

1H – Sep17

$2.720

8.1080

5.865%

$2.130

33.10%

 Industrial (131) : Singapore (85%) + Australia (15%) by Valuation
Ascott Reit

Q3 – Sep17

$1.220

1.6900

5.810%

$1.220

31.90%

 Serviced Apts (74) : Asia Pacific (59.6%) + Europe (27.9%) + US (12.5%) by Assets
Mapletree Log Tr

Q2 – Sep17

$1.320

1.8870

5.718%

$1.030

33.70%

 Industrial (124)
Far East HTrust

Q3 – Sep17

$0.720

1.0300

5.625%

$0.894

32.10%

 Hotels 8 (65.8%) + Commercial (20.3%) + Serviced Apts 4 (13.9%) by Revenue
CDL Htrust

Q3 – Sep17

$1.690

2.2900

5.621%

$1.475

33.30%

 Hotels : Singapore (57.2%) + NZ (13.1%) + Australia (9.8%) + UK (7.5%) + Maldives (6.7%) + Japan (3.3%) by NPI
Mapletree Com Tr

Q2 – Sep17

$1.620

2.2400

5.562%

$1.370

36.40%

 Retail + Office
Fortune Reit HKD

1H – Jun17

$9.610

25.5300

5.313%

$13.390

28.40%

 Retail (HK) – 17
Frasers Cpt Tr

Q4 – Sep17

$2.240

2.9700

5.313%

$2.020

29.00%

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

Q4 – Aug17

$1.050

1.4200

5.267%

$0.950

25.40%

 Retail (2)
CapitaMall Trust

Q3 – Sep17

$2.130

2.7800

5.230%

$1.920

34.70%

 Retail (16) + Office
Keppel DC REIT

Q3 – Sep17

$1.430

1.7400

4.867%

$0.960

32.10%

 Data Centres – 12 + 1 (Under Devt)
Suntec Reit

Q3 – Sep17

$2.150

2.4830

4.650%

$2.090

36.80%

 Office (68%) + Retail (26%) + Convention (6%) by Income
Keppel Reit

Q3 – Sep17

$1.260

1.4000

4.444%

$1.410

38.80%

 Office (8) : Singapore (87%) + Australia (13%) by Asset Value
ParkwayLife Reit

Q3 – Sep17

$2.990

3.3700

4.214%

$1.680

37.30%

 Hospitals + Nursing Homes = 49 : Singapore 61% + Japan 39% by Gross Revenue
CapitaCom Trust

Q3 – Sep17

$1.930

2.020

4.187%

$1.820

36.00%

 Office (72%) + Retail (17%) + Hotel (11%) by Gross Rental Income

NOTES :

  • Mkt Price is as on 30-Dec-17
  • IREIT : DPU Not Paid as Semi-Annual Payout Policy
  • PLife : Above Yield is Computed Using Recurring DPU = 3.15ct ie Excl. 0.22ct Divestment Gain (3rd of 4 Tranches)
  • BHG REIT : DPU Not Paid as Semi-Annual Payout Policy
  • A-HTrust : Above Yield is Computed Using latest 4Qs DPU = 5.74ct = 2.73ct (1H18) + 3.01ct (2H17)
  • Manulife REIT : DPU Not Paid as Semi-Annual Payout Policy
  • OUE C-REIT : Above Yield is Computed using last 4Qs DPU : 4.71ct = 1.15ct (Q317) + 2.38ct (1H17) + 1.18ct (Q416) ; DPU Not Paid as Semi-Annual Payout Policy
  • FE-HTrust : Above Yield is Computed using last 4Qs DPU : 4.05ct = 1.12ct (Dec16) + 1.03ct (Sep17) + 0.97ct (Jun17) + 0.93ct (Mar17)
  • FLT : Above Yield Uses 2H DPU = 3.52ct = 1.68ct (6-Jul-17 to 30-Sep-17) + Advanced DPU 1.84ct (1-Apr-17 to 5-Jul-17)
  • OUE-HTrust : Above Yield is Computed using last 4Qs DPU : 5.23ct = 1.36ct (Dec16) + 1.36ct (Sep17) + 1.21ct (Jun17) + 1.30ct (Mar17)
  • A-REIT : Above Yield is Computed Using latest 4Qs DPU = 15.953ct = 4.049ct (Q118) + 3.993ct (Q317) + 3.852ct (Q417) + 4.059ct (Q218)
  • Suntec : Above Yield is Computed Using latest 4Qs DPU = 9.997ct = 2.596ct (Q416) + 2.483ct (Q317) + 2.493ct (Q217) + 2.425ct (Q117)
  • YTL StarHill : Annualised DPU = 4.76ct
  • VIT : Annualised DPU = 7.538ct
  • CDL H-Trust : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield is Computed using last 4Qs DPU : 9.5ct = 2.29ct (Q317) + 4.1ct (1H17) + 3.11ct (Q416)
  • AIMSAMPReit : Above Yield is Computed using last 4Qs DPU : 10.6ct = 2.77ct (Dec16) + 2.55ct (Sep17) + 2.5ct (Jun17) + 2.78ct (Mar17)
  • MCT : Above Yield is Computed using last 4Qs DPU : 9.01ct = 2.28ct (Dec16) + 2.24ct (Sep17) + 2.23ct (Jun17) + 2.26ct (Mar17)
  • FCT : Above Yield is Computed using last 4Qs DPU : 11.9ct = 2.89ct (Dec16) + 2.97ct (Sep17) + 3.00ct (Jun17) + 3.040ct (Mar17) ; Jun16 DPU Incl. $2.1M Retained in Prior Qs
  • CLT : Annualised DPU = 6.114ct ; 18-for-100 Rights @ $0.632 on 9-Oct-17 Entitled to Accrued DPU
  • AscottREIT : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield Uses Latest 4Qs DPU = 2.042ct (Q416) + 3.356ct (1H17) + 1.69ct (Q317) = 7.088ct
  • Sabana : Annualised DPU = 3.13ct
  • FirstREIT : Annualised DPU = 8.58ct
  • MLT : Advanced DPU = 1.706ct (1-Jul-17 to 21-Sep-17) + 0.181ct (22-Sep-17 to 30-Sep-17) to be paid with Q3 DPU
  • CRCT : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield Uses Latest 4Qs DPU = 2.37ct (Q416) + 5.36ct (1H17) + 2.37ct (Q317) = 10.10ct
  • CMT : Above Yield Uses Latest 4Qs DPU = 2.73ct (Mar17) + 2.88ct (Dec16) + 2.78ct (Sep17) + 2.75ct (Jun17) = 11.14ct
  • MGCCT : Above Yield is Computed Using latest 4Qs DPU : 7.445ct = 3.714ct (1H18) + 3.731ct (2H17)
  • CCT : DPU Not Paid as Semi-Annual Payout Policy
  • ESR REIT : Annualised DPU = 3.856ct
  • SPHREIT : Above Yield is Computed using last 4Qs DPU = 1.34ct (Nov16) + 1.42ct (Aug17) + 1.37ct (May17) + 1.40ct (Feb17) =5.53ct
  • IREIT Global : DPU 100% Hedged @ €1 : S$1.55 for FY17 ; 80% Hedged @ €1 : S$1.63 for FY18
  • 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

Q2 – Jun17

$0.090

0.00

0.000%

$0.390

Shipping Trust

NOTES :

  • All in US$ except for FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3603 : US$1 fm Yahoo Finance)
  • Rickmers : Delisted on 27-Jul-17 9am
  • 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

Q2 – Jun17

$0.575

0.930

6.470%

$0.307

Infrastructure
Ascendas-iTrust

1H – Sep17

$1.150

2.810

4.887%

$0.790

India – Industrial Park (7)
HPH Trust USD

1H – Jun17

$0.415

9.500

8.064%

HK$4.53

 Ports – HK (38%) + China (62%) by Revenue
RHT HealthTrust

2H – Jun17

$0.840

2.370

5.419%

$0.845

India – Healthcare (18)
Asian Pay TV Tr

Q3 – Sep17

$0.590

1.625

11.017%

$0.830

Taiwan PayTV
Accordia Golf Tr

1H – Sep17

$0.685

1.650

7.650%

$0.900

Japan Golf Courses – 89
Dasin Retail Tr

Q3 – Sep17

$0.880

2.230

10.136%

$1.510

China – Retail (4)
NetLink NBN Tr

FY18 – IPO

$0.835

2.930

5.271%

$0.800

Fibre Network Infrastructure

NOTES :

  • IndiaBull : Delisted on 11-Dec-17 9am
  • CroesusRT : Delisted on 26-Oct-17
  • RHT : DPU Not Paid as Semi-Annual Payout Policy
  • Dasin : DPU Not Paid as Semi-Annual Payout Policy
  • Accordia : Above Yield Computed Using DPU = 5.24ct = 3.59ct (2H17 – Mar17) + 1.65ct (1H18 – Sep17) ;
  • HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7995 : US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun17) = HK9.5ct + 2H (Dec16) = HK16.6ct
  • APTT : Above Yield uses DPU = 6.5ct as FY17 Guidance = 6.5ct ie 1.625ct / Q
  • 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
  • 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
December 31, 2017 Yield Comments Off on December 2017