Category: Yield

 

October 2012

Results Announcement

  • 15 Oct 12 : KGT (Table Updated)
  • 15 Oct 12 : KepREIT (Tables Updated)
  • 17 Oct 12 : A-REIT (Tables Updated)
  • 18 Oct 12 : Sabana (Tables Updated)
  • 18 Oct 12 : MLT (Tables Updated)
  • 18 Oct 12 : IndiaBulls (Table Updated)
  • 19 Oct 12 : CMT (Tables Updated)
  • 19 Oct 12 : Religare (IPO – Tables Updated)
  • 19 Oct 12 : a-iTrust (Table Updated for Advance DPU)
  • 23 Oct 12 (AM) : CRCT (Tables Updated)
  • 23 Oct 12 (AM) : FCT (Tables Updated)
  • 23 Oct 12 : ART (Tables Updated)
  • 23 Oct 12 : MIT (Tables Updated)
  • 24 Oct 12 (AM) : AIMSAMPReit (Tables Updated)
  • 24 Oct 12 : CLT (Tables Updated)
  • 24 Oct 12 : FirstREIT (Tables Updated)
  • 24 Oct 12 : HPH-Trust (Not Updated)
  • 25 Oct 12 : MCT (Tables Updated)
  • 25 Oct 12 : a-iTrust (Table Updated)
  • 25 Oct 12 : Suntec (Tables Updated)
  • 25 Oct 12 : FCOT (Tables Updated)
  • 25 Oct 12 : CCT (Tables Updated)
  • 29 Oct 12 (AM) : TCT (Table Updated)
  • 29 Oct 12 : FSL (Table Updated)
  • 29 Oct 12 : StarHill Global (Tables Updated)
  • 30 Oct 12 (AM) : CDL H-Trust (Tables Updated)
  • 30 Oct 12 : Fortune (Tables Updated)
  • 30 Oct 12 : Rickmers (Table Updated)
  • 1 Nov 12 (AM) : Cambridge
  • 1 Nov 12 : CitySpring
  • 6 Nov 12 (AM) : PCRT
  • 6 Nov 12 : A-HTrust
  • 8 Nov 12 (AM) : PLife
  • 9 Nov 12 (AM) : Saizen
  • 9 Nov 12 : LMIR

 

 

REITs : Average Yield = 6.184%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

Sabana REIT

Q3 – Sep12

2.340

$1.110

8.387%

$1.030

38.30%

Industrial

AscendasHT

FY13 – IPO

4.610

$0.910

7.486%

$0.814

34.30%

Hotels (Australia, Japan, China)

SaizenREIT

2H – Jun12

0.630

$0.173

7.283%

$0.300

31.40%

Residential (Japan)

Cambridge

Q2 – Jun12

1.180

$0.665

7.137%

$0.612

35.80%

Industrial

AscottREIT

Q3 – Sep12

2.240

$1.275

7.027%

$1.370

40.60%

Serviced Apts (Regional)

CACHE

Q3 – Sep12

2.144

$1.230

6.934%

$0.900

32.60%

Industrial

First REIT

Q3 – Sep12

1.680

$1.045

6.861%

$0.791

15.90%

Hospitals + Hotel (Indonesia)

AIMSAMPI Reit

Q2 – Sep12

2.500

$1.490

6.711%

$1.443

31.50%

Industrial

Kep REIT

Q3 – Sep12

1.960

$1.190

6.555%

$1.230

44.10%

Office

MapletreeInd

Q2 – Sep12

2.290

$1.400

6.543%

$1.020

37.20%

Industrial

LippoMalls

Q2 – Jun12

0.790

$0.485

6.515%

$0.560

9.30%

Retail (Indonesia)

CapitaRChina

Q3 – Sep12

2.420

$1.560

6.173%

$1.250

30.40%

Retail (China)

MapletreeLog

Q2 – Sep12

1.710

$1.110

6.162%

$0.880

37.00%

Industrial

Ascendasreit

Q2 – Sep12

3.530

$2.360

5.983%

$1.845

32.50%

Industrial

SuntecReit

Q3 – Sep12

2.350

$1.605

5.825%

$1.946

37.80%

Retail + Office

Far East HTrust

FY12 – IPO

2.320

$0.985

5.656%

$0.930

30.50%

Hotels + Serviced Apts

Starhill Gbl

Q3 – Sep12

1.110

$0.785

5.631%

$0.940

31.20%

Retail + Office

CDL Htrust

Q3 – Sep12

2.720

$1.935

5.592%

$1.570

25.50%

Hotels : Singapore (82.5%) + Australia (13%) + NZ (4.5%)

FrasersCT

Q4 – Sep12

2.710

$1.955

5.545%

$1.530

30.10%

Retail

Frasers Comm

2H – Sep12

3.448

$1.245

5.539%

$1.500

36.80%

Office + Retail

Fortune Reit HK$

Q3 – Sep12

8.160

$6.120

5.333%

$8.320

24.60%

Retail (HK)

CapitaComm

Q3 – Sep12

2.040

$1.570

5.172%

$1.580

30.90%

Office (63%) + Retail (22%) + Hotel (15%)

MapletreeCom

Q2 – Sep12

1.546

$1.210

5.111%

$0.952

37.70%

Retail + Office

PLife REIT

Q2 – Jun12

2.480

$2.040

4.863%

$1.460

36.40%

Hospitals

CapitaMall

Q3 – Sep12

2.420

$2.110

4.564%

$1.620

37.60%

Retail + Office

NOTES :

  • Mkt Price is as on 31-Oct-12
  • Fortune :No DPU Payout as Semi-Annual DPU Payout Policy
  • CDL H-Trust : Annualised DPU = 10.82ct ; No DPU Payout as Semi-Annual DPU Payout Policy
  • StarHill Global : Annualised DPU = 4.42ct
  • CCT : Annualised DPU = 8.12ct
  • FCOT : Quarterly DPU Payout from Dec Quarter
  • Suntec : Annualised DPU = 9.349ct
  • FirstREIT : Annualised DPU = 7.17ct
  • CLT : Annualised DPU = 8.529ct
  • ART : DPU Not Paid as Semi-Annual Payout Policy
  • CRCT : Annualised DPU Payout = 9.63ct ; DPU Not Paid as Semi-Annual Payout Policy
  • CMT : Annualised DPU Payout = 9.63ct
  • Sabana : Annualised DPU = 9.31ct
  • K-REIT : Annualised DPU Payout = 7.80ct ; Quarterly DPU Payout Policy from Q312
  • FE-HTrust : IPO Prospectus ; DPU : FY12 = 2.32ct (Forecast Period 1-Aug-12 to 31-Dec-12 ; Entitlement only from Listing Date) / FY13 = 5.83ct ; Yield : FY12 = 5.99% / FY13 = 6.27% ; Gearing = 30.5% ; NAV = $0.93 ; Listing on 27-Aug-12 2pm
  • PLife : Annualised DPU = 9.92ct
  • Cambridge : Annualised DPU = 4.746ct
  • A-HTrust : Listing on 27-Jul-12 2pm ; FY13 DPU = 4.61ct (27 Jul 12 to 31 Mar 13) incl. Waiver of 0.61ct from Sponsor entitlement ; FY14 DPU = 7.07ct ; Gearing = 37.6% Post-IPO Acquisition of Ibis Beijing SanYuan; IPO Prospectus
  • FCT
    :     A total of $2.3 million has been retained in 1H12 (1Q12: $1.6 million + 2Q12: $0.7 million) + 3Q12 : $1.172 million
  • A-REIT : Private Placement (3 May 12) – 150Mil @ $1.99 ; Listing on 14 May 12 2pm
  • K-REIT : Proposed 17-for-20 Rights Issue @ $0.85 (17-Oct-11)
  • LMIR : Proposed Rights 1-for-1 @ $0.31 ; SGX Annc (3-Oct-11) ; 1H11 Proforma – DPU 1.63ct ; NAV $0.5753 ; TERP $0.458 (Mkt $0.605)
  • AIMSAMPI Reit : 5-to-1 Stocks Consolidation on 29-Sep-11
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
  • FCOT : 5-to-1 Stocks Consolidation on 8-Feb-11 ; Circular (30-Dec-10) : Proforma FY10 (Sep) – DPU 5.55ct ; NAV $1.38 ; Issued Shares 620,857,225
  • FirstREIT : Proposed Rights 5-for-4 @ $0.50 ; SGX Annc (10-Nov-10) ; FY11 Forecast – DPU 6.4ct ; NAV $0.76 ; Gearing 17.25% ; TERP $0.70 (Mkt $0.95)
  • Sabana : Forecast DPU FY11 = 8.63ct ; FY12 = 8.67ct ; Listed on 26 Nov 10 2pm @ $1.05

  
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

FSL Trust

Q3 – Sep12

0

$0.127

0.000%

$0.490

Shipping Trust

Rickmers

Q3 – Sep12

0.6

$0.365

8.018%

$0.990

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2194:US$1 fm Yahoo Finance)
  • Rickmers : 10% Payout (of Cash flow available for distribution before payment to debt capital providers)
  • FSL : 30-Jun-12 : Suspends Div Payout till 30-Jun-13

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q1 – Jun12

0.82

$0.445

7.371%

$0.225

Infrastructure – Water + Gas + Power

K-Green

1H12 – Jun

7.82

$1.010

7.743%

$1.050

Energy (Incineration) + Water (NEWater)

AscendasIndT

1H – Sep12

2.5

$0.760

6.319%

$0.640

India – Industrial Park

Indiabulls

1H – Sep12

0.0184

$0.125

0.294%

$0.426

India – Office

HPH Trust US$

FY12 – IPO

6.59

$0.780

8.449%

HK$7.58

Ports – HK + China

TCT

Q3 – Sep12

—

$1.430

0.000%

$4.090

China – Retail + Office + Industrial

PerennialCRT

1H – Jun12

1.9

$0.480

7.958%

$0.680

China Retail

Religare

FY13 – IPO

4

$0.800

10.000%

$0.870

India – Healthcare

NOTES :

  • 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%
  • a-iTrust : 1-Apr-12 to 8-Oct-12 ; 1H DPU = 2.4ct (90% Payout)
  • HPH-Trust : No DPU Payout as Semi-Annual Payout Policy
  • Indiabulls : Maiden DPU Declared since Listing on 11-Jun-08
  • PCRT : Annualised DPU = 3.82ct ; DPU Includes $21.217Mil Additional Income (To Be Drawn from Earn-Out Fund)
  • TCT : No DPU Declared since 2H11 ; Last DPU = 5ct on 1H11
  • HPH Trust : 1H12 DPU Payout = HK24.05ct ; Above Table Uses IPO Forecast to Compute Yield (Both DPU & Mkt Price in US$)
  • K-Green : 1H12 DPU Payout = 3.13ct ; 2H11 DPU Payout = 4.69ct ; Above Table Uses 2H11 + 1H12 DPU = 7.82ct to Calculate Yield
  • CitySpring : Guidance for FY13 DPU = 3.28ct ie 0.82ct / Q
  • CitySpring : Proposed 11-for-20 Rights Issue @ $0.39. TERP = $0.4835 @ $0.535 (Mkt Price) ; Annualised Yield (Profroma 2FY11) = 6.8% @ TERP (Before Rights = 8.4% @ $0.535)
  • PCRT : IPO DPU Forecast – FY11 = 2.35ct ; FY12 = 3.86ct ; Semi-Annual Dividend Payout with 1st Payout for Dec-11 ; Listing on 9-Jun-11 2pm
  • HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
  • Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)

 

 

October 31, 2012 Yield Comments Off on October 2012

September 2012

 

REITs : Average Yield = 6.257%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

Sabana REIT

Q2 – Jun12

2.270

$1.145

7.974%

$1.040

34.10%

Industrial

SaizenREIT

2H – Jun12

0.630

$0.164

7.683%

$0.300

31.40%

Residential (Japan)

AscendasHT

FY13 – IPO

4.610

$0.910

7.486%

$0.814

34.30%

Hotels (Australia, Japan, China)

Cambridge

Q2 – Jun12

1.180

$0.640

7.416%

$0.612

35.80%

Industrial

AscottREIT

1H – Jun12

4.517

$1.255

7.198%

$1.420

39.70%

Serviced Apts (Regional)

AIMSAMPI Reit

Q1 – Jun12

2.500

$1.410

7.092%

$1.400

29.70%

Industrial

LippoMalls

Q2 – Jun12

0.790

$0.455

6.945%

$0.560

9.30%

Retail (Indonesia)

First REIT

Q2 – Jun12

1.930

$1.050

6.733%

$0.795

15.90%

Hospitals + Hotel (Indonesia)

CapitaRChina

1H – Jun12

4.820

$1.465

6.614%

$1.330

28.10%

Retail (China)

K-REIT

1H – Jun12

3.840

$1.185

6.515%

$1.230

43.90%

Office

MapletreeInd

Q1 – Jun12

2.260

$1.410

6.411%

$1.020

37.70%

Industrial

SuntecReit

Q2 – Jun12

2.361

$1.485

6.395%

$1.955

37.50%

Retail + Office

CACHE

Q2 – Jun12

1.981

$1.250

6.374%

$0.900

27.50%

Industrial

MapletreeLog

Q1 – Jun12

1.700

$1.125

6.044%

$0.880

37.00%

Industrial

Frasers Comm

Q3 – Jun12

1.700

$1.175

5.821%

$1.300

39.50%

Office + Retail

Ascendasreit

Q1 – Jun12

3.530

$2.410

5.809%

$1.836

32.70%

Industrial

Starhill Gbl

Q2 – Jun12

1.080

$0.765

5.673%

$0.940

30.50%

Retail + Office

CDL Htrust

1H – Jun12

5.700

$2.030

5.645%

$1.600

25.20%

Hotels : Singapore (82.5%) + Australia (13%) + NZ (4.5%)

FrasersCT

Q3 – Jun12

2.600

$1.810

5.525%

$1.410

31.70%

Retail

Far East HTrust

FY12 – IPO

2.320

$1.035

5.383%

$0.930

30.50%

Hotels + Serviced Apts

Fortune Reit HK$

1H – Jun12

15.820

$5.910

5.354%

$8.340

24.50%

Retail (HK)

CapitaComm

1H – Jun12

3.960

$1.495

5.324%

$1.580

30.10%

Office (61%) + Retail (22%) + Hotel (17%)

MapletreeCom

Q1 – Jun12

1.537

$1.170

5.274%

$0.952

37.60%

Retail + Office

PLife REIT

Q2 – Jun12

2.480

$1.985

4.997%

$1.460

36.40%

Hospitals

CapitaMall

Q2 – Jun12

2.380

$2.020

4.738%

$1.620

37.50%

Retail + Office

NOTES :

  • Mkt Price is as on 28-Sep-12
  • FE-HTrust : IPO Prospectus ; DPU : FY12 = 2.32ct (Forecast Period 1-Aug-12 to 31-Dec-12 ; Entitlement only from Listing Date) / FY13 = 5.83ct ; Yield : FY12 = 5.99% / FY13 = 6.27% ; Gearing = 30.5% ; NAV = $0.93 ; Listing on 27-Aug-12 2pm
  • PLife : Annualised DPU = 9.92ct
  • Cambridge : Annualised DPU = 4.746ct
  • A-HTrust : Listing on 27-Jul-12 2pm ; FY13 DPU = 4.61ct (27 Jul 12 to 31 Mar 13) incl. Waiver of 0.61ct from Sponsor entitlement ; FY14 DPU = 7.07ct ; Gearing = 37.6% Post-IPO Acquisition of Ibis Beijing SanYuan; IPO Prospectus
  • CDL H-Trust : Annualised DPU = 11.46ct
  • MCT : Annualised DPU = 6.17ct
  • FCOT : Annualised DPU = 6.84ct ; No DPU Payout as Semi-Annual Payout Policy
  • CLT : Annualised DPU = 7.968ct
  • CRCT : Annualised DPU Payout = 9.69ct
  • StarHill Global : Annualised DPU = 4.34ct
  • FirstREIT : Annualised DPU = 7.07ct ; DPU Includes 0.34ct on Gain from Divestment of Asset ; Last Q to Include Other Gains for DPU (Annualised DPU = 6.39ct if Exclude Other Gains)
  • CCT : Annualised DPU = 7.96ct
  • FCT : A total of $2.3 million has been retained in 1H12 (1Q12: $1.6 million + 2Q12: $0.7 million) + 3Q12 : $1.172 million
  • Sabana : Annualised DPU = 9.13ct
  • Suntec : Annualised DPU = 9.496ct
  • CMT : Annualised DPU Payout = 9.57ct
  • K-REIT : Annualised DPU Payout = 7.72ct ; Will Change to Quarterly DPU Payout Policy from Q312
  • A-REIT : Private Placement (3 May 12) – 150Mil @ $1.99 ; Listing on 14 May 12 2pm
  • K-REIT : Proposed 17-for-20 Rights Issue @ $0.85 (17-Oct-11)
  • LMIR : Proposed Rights 1-for-1 @ $0.31 ; SGX Annc (3-Oct-11) ; 1H11 Proforma – DPU 1.63ct ; NAV $0.5753 ; TERP $0.458 (Mkt $0.605)
  • AIMSAMPI Reit : 5-to-1 Stocks Consolidation on 29-Sep-11
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
  • FCOT : 5-to-1 Stocks Consolidation on 8-Feb-11 ; Circular (30-Dec-10) : Proforma FY10 (Sep) – DPU 5.55ct ; NAV $1.38 ; Issued Shares 620,857,225
  • FirstREIT : Proposed Rights 5-for-4 @ $0.50 ; SGX Annc (10-Nov-10) ; FY11 Forecast – DPU 6.4ct ; NAV $0.76 ; Gearing 17.25% ; TERP $0.70 (Mkt $0.95)
  • Sabana : Forecast DPU FY11 = 8.63ct ; FY12 = 8.67ct ; Listed on 26 Nov 10 2pm @ $1.05
  • MIT (IPO) : IPO Forecast – 3.1ct (FY11 – Mar) ; 7.46ct (FY12 – Mar) ; Listing : 21-Oct-10 2pm ; IPO Prospectus

  
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

FSL Trust

Q2 – Jun12

0

$0.121

0.000%

$0.490

Shipping Trust

Rickmers

Q2 – Jun12

0.6

$0.330

8.900%

$0.960

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2237:US$1 fm Yahoo Finance)
  • Rickmers : 10% Payout (of Cash flow available for distribution before payment to debt capital providers)
  • FSL : 30-Jun-12 : Suspends Div Payout till 30-Jun-13

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q1 – Jun12

0.82

$0.435

7.540%

$0.225

Infrastructure – Water + Gas + Power

K-Green

1H12 – Jun

7.82

$1.025

7.629%

$1.040

Energy (Incineration) + Water (NEWater)

AscendasIndT

Q1 – Jun12

1.2

$0.765

6.275%

$0.590

India – Industrial Park

Indiabulls

Q4 – Mar12

—

$0.113

—

$0.453

India – Office

HPH Trust US$

FY12 – IPO

6.59

$0.725

9.090%

HK$7.58

Ports – HK + China

TCT

1H – Jun12

0.00

$1.040

0.000%

$4.490

China – Retail + Office + Industrial

PerennialCRT

1H – Jun12

1.9

$0.495

7.717%

$0.680

China Retail

NOTES :

  • PCRT : Annualised DPU = 3.82ct ; DPU Includes $21.217Mil Additional Income (To Be Drawn from Earn-Out Fund)
  • TCT : No DPU Declared since 2H11 ; Last DPU = 5ct on 1H11
  • HPH Trust : 1H12 DPU Payout = HK24.05ct ; Above Table Uses IPO Forecast to Compute Yield (Both DPU & Mkt Price in US$)
  • a-iTrust : No DPU Payout as Semi-Annual Payout Policy ; DPU based on 90% Payout
  • K-Green : 1H12 DPU Payout = 3.13ct ; 2H11 DPU Payout = 4.69ct ; Above Table Uses 2H11 + 1H12 DPU = 7.82ct to Calculate Yield
  • CitySpring : Guidance for FY13 DPU = 3.28ct ie 0.82ct / Q
  • Indiabulls : No DPU Declared
  • CitySpring : Proposed 11-for-20 Rights Issue @ $0.39. TERP = $0.4835 @ $0.535 (Mkt Price) ; Annualised Yield (Profroma 2FY11) = 6.8% @ TERP (Before Rights = 8.4% @ $0.535)
  • PCRT : IPO DPU Forecast – FY11 = 2.35ct ; FY12 = 3.86ct ; Semi-Annual Dividend Payout with 1st Payout for Dec-11 ; Listing on 9-Jun-11 2pm
  • HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
  • Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)

 

September 28, 2012 Yield Comments Off on September 2012

August 2012

Results Announcement

  • 2 Aug 12 (AM) : PLife (Tables Updated)
  • 2 Aug 12 : CitySpring (Table Updated)
  • 2 Aug 12 : LMIR (Tables Updated)
  • 6 Aug 12 : Rickmers (Table Updated)
  • 8 Aug 12 (AM) : PCRT (Table Updated)
  • 22 Aug 12 : Saizen (Tables Updated)
  • 27 Aug 12 (2PM) : FE-HTrust (IPO Listing)

 

 

REITs : Average Yield = 6.512%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

Sabana REIT

Q2 – Jun12

2.270

$1.045

8.737%

$1.040

34.10%

Industrial

SaizenREIT

2H – Jun12

0.630

$0.158

7.975%

$0.300

31.40%

Residential (Japan)

AIMSAMPI Reit

Q1 – Jun12

2.500

$1.305

7.663%

$1.400

29.70%

Industrial

Cambridge

Q2 – Jun12

1.180

$0.620

7.655%

$0.612

35.80%

Industrial

AscendasHT

FY13 – IPO

4.610

$0.890

7.654%

$0.814

34.30%

Hotels (Australia, Japan, China)

LippoMalls

Q2 – Jun12

0.790

$0.435

7.264%

$0.560

9.30%

Retail (Indonesia)

AscottREIT

1H – Jun12

4.517

$1.250

7.227%

$1.420

39.70%

Serviced Apts (Regional)

CACHE

Q2 – Jun12

1.981

$1.125

7.083%

$0.900

27.50%

Industrial

First REIT

Q2 – Jun12

1.930

$1.000

7.070%

$0.795

15.90%

Hospitals + Hotel (Indonesia)

K-REIT

1H – Jun12

3.840

$1.120

6.893%

$1.230

43.90%

Office

MapletreeInd

Q1 – Jun12

2.260

$1.360

6.647%

$1.020

37.70%

Industrial

SuntecReit

Q2 – Jun12

2.361

$1.445

6.572%

$1.955

37.50%

Retail + Office

CapitaRChina

1H – Jun12

4.820

$1.480

6.547%

$1.330

28.10%

Retail (China)

MapletreeLog

Q1 – Jun12

1.700

$1.110

6.126%

$0.880

37.00%

Industrial

Frasers Comm

Q3 – Jun12

1.700

$1.120

6.107%

$1.300

39.50%

Office + Retail

Ascendasreit

Q1 – Jun12

3.530

$2.360

5.932%

$1.836

32.70%

Industrial

Starhill Gbl

Q2 – Jun12

1.080

$0.735

5.905%

$0.940

30.50%

Retail + Office

Far East HTrust

FY12 – IPO

2.320

$0.985

5.656%

$0.930

30.50%

Hotels + Serviced Apts

CDL Htrust

1H – Jun12

5.700

$2.030

5.645%

$1.600

25.20%

Hotels : Singapore (82.5%) + Australia (13%) + NZ (4.5%)

Fortune Reit HK$

1H – Jun12

15.820

$5.630

5.620%

$8.340

24.50%

Retail (HK)

MapletreeCom

Q1 – Jun12

1.537

$1.100

5.609%

$0.952

37.60%

Retail + Office

CapitaComm

1H – Jun12

3.960

$1.420

5.606%

$1.580

30.10%

Office (61%) + Retail (22%) + Hotel (17%)

FrasersCT

Q3 – Jun12

2.600

$1.785

5.602%

$1.410

31.70%

Retail

PLife REIT

Q2 – Jun12

2.480

$1.920

5.167%

$1.460

36.40%

Hospitals

CapitaMall

Q2 – Jun12

2.380

$1.980

4.833%

$1.620

37.50%

Retail + Office

NOTES :

  • Mkt Price is as on 31-Aug-12
  • FE-HTrust : IPO Prospectus ; DPU : FY12 = 2.32ct (Forecast Period 1-Aug-12 to 31-Dec-12 ; Entitlement only from Listing Date) / FY13 = 5.83ct ; Yield : FY12 = 5.99% / FY13 = 6.27% ; Gearing = 30.5% ; NAV = $0.93 ; Listing on 27-Aug-12 2pm
  • PLife : Annualised DPU = 9.92ct
  • Cambridge : Annualised DPU = 4.746ct
  • A-HTrust : Listing on 27-Jul-12 2pm ; FY13 DPU = 4.61ct (27 Jul 12 to 31 Mar 13) incl. Waiver of 0.61ct from Sponsor entitlement ; FY14 DPU = 7.07ct ; Gearing = 37.6% Post-IPO Acquisition of Ibis Beijing SanYuan; IPO Prospectus
  • CDL H-Trust : Annualised DPU = 11.46ct
  • MCT : Annualised DPU = 6.17ct
  • FCOT : Annualised DPU = 6.84ct ; No DPU Payout as Semi-Annual Payout Policy
  • CLT : Annualised DPU = 7.968ct
  • CRCT : Annualised DPU Payout = 9.69ct
  • StarHill Global : Annualised DPU = 4.34ct
  • FirstREIT : Annualised DPU = 7.07ct ; DPU Includes 0.34ct on Gain from Divestment of Asset ; Last Q to Include Other Gains for DPU (Annualised DPU = 6.39ct if Exclude Other Gains)
  • CCT : Annualised DPU = 7.96ct
  • FCT : A total of $2.3 million has been retained in 1H12 (1Q12: $1.6 million + 2Q12: $0.7 million) + 3Q12 : $1.172 million
  • Sabana : Annualised DPU = 9.13ct
  • Suntec : Annualised DPU = 9.496ct
  • CMT : Annualised DPU Payout = 9.57ct
  • K-REIT : Annualised DPU Payout = 7.72ct ; Will Change to Quarterly DPU Payout Policy from Q312
  • A-REIT : Private Placement (3 May 12) – 150Mil @ $1.99 ; Listing on 14 May 12 2pm
  • K-REIT : Proposed 17-for-20 Rights Issue @ $0.85 (17-Oct-11)
  • LMIR : Proposed Rights 1-for-1 @ $0.31 ; SGX Annc (3-Oct-11) ; 1H11 Proforma – DPU 1.63ct ; NAV $0.5753 ; TERP $0.458 (Mkt $0.605)
  • AIMSAMPI Reit : 5-to-1 Stocks Consolidation on 29-Sep-11
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
  • FCOT : 5-to-1 Stocks Consolidation on 8-Feb-11 ; Circular (30-Dec-10) : Proforma FY10 (Sep) – DPU 5.55ct ; NAV $1.38 ; Issued Shares 620,857,225
  • FirstREIT : Proposed Rights 5-for-4 @ $0.50 ; SGX Annc (10-Nov-10) ; FY11 Forecast – DPU 6.4ct ; NAV $0.76 ; Gearing 17.25% ; TERP $0.70 (Mkt $0.95)
  • Sabana : Forecast DPU FY11 = 8.63ct ; FY12 = 8.67ct ; Listed on 26 Nov 10 2pm @ $1.05
  • MIT (IPO) : IPO Forecast – 3.1ct (FY11 – Mar) ; 7.46ct (FY12 – Mar) ; Listing : 21-Oct-10 2pm ; IPO Prospectus

  
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

FSL Trust

Q2 – Jun12

0

$0.122

0.000%

$0.490

Shipping Trust

Rickmers

Q2 – Jun12

0.6

$0.315

9.521%

$0.960

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2496:US$1 fm Yahoo Finance)
  • Rickmers : 10% Payout (of Cash flow available for distribution before payment to debt capital providers)
  • FSL : 30-Jun-12 : Suspends Div Payout till 30-Jun-13

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q1 – Jun12

0.82

$0.415

7.904%

$0.225

Infrastructure – Water + Gas + Power

K-Green

1H12 – Jun

7.82

$0.995

7.859%

$1.040

Energy (Incineration) + Water (NEWater)

AscendasIndT

Q1 – Jun12

1.2

$0.780

6.154%

$0.590

India – Industrial Park

Indiabulls

Q4 – Mar12

—

$0.098

—

$0.453

India – Office

HPH Trust US$

FY12 – IPO

6.59

$0.700

9.414%

HK$7.58

Ports – HK + China

TCT

1H – Jun12

0.00

$1.270

0.000%

$4.490

China – Retail + Office + Industrial

PerennialCRT

1H – Jun12

1.9

$0.470

8.128%

$0.680

China Retail

NOTES :

  • PCRT : Annualised DPU = 3.82ct ; DPU Includes $21.217Mil Additional Income (To Be Drawn from Earn-Out Fund)
  • TCT : No DPU Declared since 2H11 ; Last DPU = 5ct on 1H11
  • HPH Trust : 1H12 DPU Payout = HK24.05ct ; Above Table Uses IPO Forecast to Compute Yield (Both DPU & Mkt Price in US$)
  • a-iTrust : No DPU Payout as Semi-Annual Payout Policy ; DPU based on 90% Payout
  • K-Green : 1H12 DPU Payout = 3.13ct ; 2H11 DPU Payout = 4.69ct ; Above Table Uses 2H11 + 1H12 DPU = 7.82ct to Calculate Yield
  • CitySpring : Guidance for FY13 DPU = 3.28ct ie 0.82ct / Q
  • Indiabulls : No DPU Declared
  • CitySpring : Proposed 11-for-20 Rights Issue @ $0.39. TERP = $0.4835 @ $0.535 (Mkt Price) ; Annualised Yield (Profroma 2FY11) = 6.8% @ TERP (Before Rights = 8.4% @ $0.535)
  • PCRT : IPO DPU Forecast – FY11 = 2.35ct ; FY12 = 3.86ct ; Semi-Annual Dividend Payout with 1st Payout for Dec-11 ; Listing on 9-Jun-11 2pm
  • HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
  • Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)

 

August 31, 2012 Yield Comments Off on August 2012

July 2012

Results Announcement

  • 16 Jul 12 : K-REIT (Tables Updated)
  • 16 Jul 12 : KGT (Table Updated)
  • 17 Jul 12 : A-REIT (Tables Updated)
  • 18 Jul 12 (AM) : CMT (Tables Updated)
  • 19 Jul 12 (AM) : AIMSAMPReit (Tables Updated)
  • 19 Jul 12 : Suntec (Tables Updated)
  • 19 Jul 12 : Sabana (Tables Updated)
  • 19 Jul 12 : FCT (Tables Updated)
  • 19 Jul 12 : MLT (Tables Updated)
  • 20 Jul 12 (AM) : CCT (Tables Updated)
  • 20 Jul 12 : Fortune (Tables Updated)
  • 23 Jul 12 : FSL (Table Updated)
  • 24 Jul 12 (AM) : TCT (Table Updated)
  • 24 Jul 12 : a-iTrust (Table Updated)
  • 24 Jul 12 : FirstREIT (Tables Updated)
  • 24 Jul 12 : MIT (Tables Updated)
  • 24 Jul 12 : StarHill Global (Tables Updated)
  • 25 Jul 12 (AM) : CRCT (Tables Updated)
  • 25 Jul 12 : CLT (Tables Updated)
  • 25 Jul 12 : FCOT (Tables Updated)
  • 25 Jul 12 : MCT (Tables Updated)
  • 26 Jul 12 : HPH Trust (Table Updated)
  • 27 Jul 12 (AM) : CDL H-Trust (Tables Updated)
  • 27 Jul 12 (2PM) : A-HTrust IPO (Tables Updated)
  • 27 Jul 12 : ART (Tables Updated)
  • 30 Jul 12 (AM) : Cambridge (Tables Updated)
  • 2 Aug 12 (AM) : PLife
  • 2 Aug 12 : CitySpring
  • 6 Aug 12 : Rickmers
  • 8 Aug 12 (AM) : PCRT

 

 

REITs : Average Yield = 6.678%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

Sabana REIT

Q2 – Jun12

2.270

$1.010

9.040%

$1.040

34.10%

Industrial

SaizenREIT

1H – Dec11

0.610

$0.154

7.922%

$0.310

32.00%

Residential (Japan)

Cambridge

Q2 – Jun12

1.180

$0.600

7.910%

$0.612

35.80%

Industrial

AscendasHT

FY13 – IPO

4.610

$0.875

7.786%

$0.814

34.30%

Hotels

AIMSAMPI Reit

Q1 – Jun12

2.500

$1.285

7.782%

$1.400

29.70%

Industrial

First REIT

Q2 – Jun12

1.930

$0.950

7.442%

$0.795

15.90%

Hospitals + Hotel (Indonesia)

AscottREIT

1H – Jun12

4.517

$1.225

7.375%

$1.420

39.70%

Serviced Apts (Regional)

CACHE

Q1 – Mar12

2.086

$1.105

7.211%

$0.910

27.70%

Industrial

K-REIT

1H – Jun12

3.840

$1.110

6.955%

$1.230

43.90%

Office

MapletreeInd

Q1 – Jun12

2.260

$1.300

6.954%

$1.020

37.70%

Industrial

CapitaRChina

1H – Jun12

4.820

$1.435

6.753%

$1.330

28.10%

Retail (China)

MapletreeLog

Q1 – Jun12

1.700

$1.015

6.700%

$0.880

37.00%

Industrial

LippoMalls

Q1 – Mar12

0.690

$0.415

6.651%

$0.566

9.20%

Retail (Indonesia)

SuntecReit

Q2 – Jun12

2.361

$1.445

6.572%

$1.955

37.50%

Retail + Office

Frasers Comm

Q3 – Jun12

1.700

$1.090

6.275%

$1.300

39.50%

Office + Retail

Ascendasreit

Q1 – Jun12

3.530

$2.270

6.167%

$1.836

32.70%

Industrial

Starhill Gbl

Q2 – Jun12

1.080

$0.710

6.113%

$0.940

30.50%

Retail + Office

CapitaComm

1H – Jun12

3.960

$1.340

5.940%

$1.580

30.10%

Office (61%) + Retail (22%) + Hotel (17%)

MapletreeCom

Q1 – Jun12

1.537

$1.070

5.766%

$0.952

37.60%

Retail + Office

Fortune Reit HK$

1H – Jun12

15.820

$5.540

5.711%

$8.340

24.50%

Retail (HK)

CDL Htrust

1H – Jun12

5.700

$2.050

5.590%

$1.600

25.20%

Hotels : Singapore (82.5%) + Australia (13%) + NZ (4.5%)

FrasersCT

Q3 – Jun12

2.600

$1.800

5.556%

$1.410

31.70%

Retail

PLife REIT

Q1 – Mar12

2.560

$1.960

5.224%

$1.460

35.30%

Hospitals

CapitaMall

Q2 – Jun12

2.380

$1.960

4.883%

$1.620

37.50%

Retail + Office

NOTES :

  • Mkt Price is as on 31-Jul-12
  • Cambridge : Annualised DPU = 4.746ct
  • A-HTrust : Listing on 27-Jul-12 2pm ; FY13 DPU = 4.61ct (27 Jul 12 to 31 Mar 13) incl. Waiver of 0.61ct from Sponsor entitlement ; FY14 DPU = 7.07ct ; Gearing = 37.6% Post-IPO Acquisition of Ibis Beijing SanYuan; IPO Prospectus
  • CDL H-Trust : Annualised DPU = 11.46ct
  • MCT : Annualised DPU = 6.17ct
  • FCOT : Annualised DPU = 6.84ct ; No DPU Payout as Semi-Annual Payout Policy
  • CLT : Annualised DPU = 7.968ct
  • CRCT : Annualised DPU Payout = 9.69ct
  • StarHill Global : Annualised DPU = 4.34ct
  • FirstREIT : Annualised DPU = 7.07ct ; DPU Includes 0.34ct on Gain from Divestment of Asset ; Last Q to Include Other Gains for DPU (Annualised DPU = 6.39ct if Exclude Other Gains)
  • CCT : Annualised DPU = 7.96ct
  • FCT : A total of $2.3 million has been retained in 1H12 (1Q12: $1.6 million + 2Q12: $0.7 million) + 3Q12 : $1.172 million
  • Sabana : Annualised DPU = 9.13ct
  • Suntec : Annualised DPU = 9.496ct
  • CMT : Annualised DPU Payout = 9.57ct
  • K-REIT : Annualised DPU Payout = 7.72ct ; Will Change to Quarterly DPU Payout Policy from Q312
  • Saizen : No DPU Payout as Semi-Annual Payout Policy
  • A-REIT : Private Placement (3 May 12) – 150Mil @ $1.99 ; Listing on 14 May 12 2pm
  • PLife : Annualised DPU = 10.24ct
  • K-REIT : Proposed 17-for-20 Rights Issue @ $0.85 (17-Oct-11)
  • LMIR : Proposed Rights 1-for-1 @ $0.31 ; SGX Annc (3-Oct-11) ; 1H11 Proforma – DPU 1.63ct ; NAV $0.5753 ; TERP $0.458 (Mkt $0.605)
  • AIMSAMPI Reit : 5-to-1 Stocks Consolidation on 29-Sep-11
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
  • FCOT : 5-to-1 Stocks Consolidation on 8-Feb-11 ; Circular (30-Dec-10) : Proforma FY10 (Sep) – DPU 5.55ct ; NAV $1.38 ; Issued Shares 620,857,225
  • FirstREIT : Proposed Rights 5-for-4 @ $0.50 ; SGX Annc (10-Nov-10) ; FY11 Forecast – DPU 6.4ct ; NAV $0.76 ; Gearing 17.25% ; TERP $0.70 (Mkt $0.95)
  • Sabana : Forecast DPU FY11 = 8.63ct ; FY12 = 8.67ct ; Listed on 26 Nov 10 2pm @ $1.05
  • MIT (IPO) : IPO Forecast – 3.1ct (FY11 – Mar) ; 7.46ct (FY12 – Mar) ; Listing : 21-Oct-10 2pm ; IPO Prospectus

  
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

FSL Trust

Q2 – Jun12

0

$0.150

0.000%

$0.490

Shipping Trust

Rickmers

Q1 – Mar12

0.6

$0.320

9.334%

$0.940

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2445:US$1 fm Yahoo Finance)
  • FSL : 30-Jun-12 : Suspends Div Payout till 30-Jun-13
  • Rickmers : 9% Payout (of Cash flow available for distribution before payment to debt capital providers)

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q4 – Mar12

0.82

$0.420

7.810%

$0.279

Infrastructure – Water + Gas + Power

K-Green

1H12 – Jun

7.82

$0.975

8.021%

$1.040

Energy (Incineration) + Water (NEWater)

AscendasIndT

Q1 – Jun12

1.2

$0.775

6.194%

$0.590

India – Industrial Park

Indiabulls

Q4 – Mar12

—

$0.103

—

$0.453

India – Office

HPH Trust US$

FY12 – IPO

6.59

$0.760

8.671%

HK$7.58

Ports – HK + China

TCT

1H – Jun12

0.00

$1.430

0.000%

$4.490

China – Retail + Office + Industrial

PerennialCRT

Q1 – Mar12

0.94

$0.490

7.776%

$0.680

China Retail

NOTES :

  • TCT : No DPU Declared since 2H11 ; Last DPU = 5ct on 1H11
  • HPH Trust : 1H12 DPU Payout = HK24.05ct ; Above Table Uses IPO Forecast to Compute Yield (Both DPU & Mkt Price in US$)
  • a-iTrust : No DPU Payout as Semi-Annual Payout Policy ; DPU based on 90% Payout
  • K-Green : 1H12 DPU Payout = 3.13ct ; 2H11 DPU Payout = 4.69ct ; Above Table Uses 2H11 + 1H12 DPU = 7.82ct to Calculate Yield
  • PCRT : No DPU Payout as Semi-Annual Payout Policy ; DPU Includes $10.54Mil Additional Income (To Be Drawn from Earn-Out Fund)
  • CitySpring : Guidance for FY13 DPU = 3.28ct ie 0.82ct / Q
  • Indiabulls : No DPU Declared
  • PCRT : DPU = 2.35ct (9-Jun-11 to 31-Dec-11) ; Includes $25Mil Additional Income (Drawn from Earn-Out Fund)
  • CitySpring : Proposed 11-for-20 Rights Issue @ $0.39. TERP = $0.4835 @ $0.535 (Mkt Price) ; Annualised Yield (Profroma 2FY11) = 6.8% @ TERP (Before Rights = 8.4% @ $0.535)
  • PCRT : IPO DPU Forecast – FY11 = 2.35ct ; FY12 = 3.86ct ; Semi-Annual Dividend Payout with 1st Payout for Dec-11 ; Listing on 9-Jun-11 2pm
  • HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
  • Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)

 

July 31, 2012 Yield Comments Off on July 2012

June 2012

 

REITs : Average Yield = 7.054%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

Sabana REIT

Q1 – Mar12

2.26

$0.975

9.323%

$1.040

33.90%

Industrial

AIMSAMPI Reit

Q4 – Mar12

2.7

$1.200

9.000%

$1.406

30.00%

Industrial

First REIT

Q1 – Mar12

1.93

$0.915

8.481%

$0.800

16.00%

Hospitals + Hotel (Indonesia)

SaizenREIT

1H – Dec11

0.61

$0.145

8.414%

$0.310

32.00%

Residential (Japan)

Cambridge

Q1 – Mar12

1.171

$0.570

8.263%

$0.619

35.90%

Industrial

CACHE

Q1 – Mar12

2.086

$1.050

7.990%

$0.910

27.70%

Industrial

AscottREIT

Q1 – Mar12

2.14

$1.085

7.889%

$1.310

41.60%

Serviced Apts (Regional)

CapitaRChina

Q1 – Mar12

2.41

$1.310

7.397%

$1.240

30.00%

Retail (China)

MapletreeInd

Q4 – Mar12

2.22

$1.210

7.339%

$1.020

37.80%

Industrial

SuntecReit

Q1 – Mar12

2.453

$1.350

7.308%

$1.962

37.40%

Retail + Office

K-REIT

Q1 – Mar12

1.9

$1.065

7.174%

$1.250

41.80%

Office

MapletreeLog

Q5 – Mar12

1.7

$0.980

6.939%

$0.880

35.20%

Industrial

LippoMalls

Q1 – Mar12

0.69

$0.400

6.900%

$0.566

9.20%

Retail (Indonesia)

Ascendasreit

Q4 – Mar12

3.5

$2.150

6.512%

$1.843

36.60%

Industrial

Frasers Comm

1H – Mar12

3.2423

$1.000

6.480%

$1.330

36.10%

Office + Retail

Starhill Gbl

Q1 – Mar12

1.07

$0.665

6.466%

$0.940

30.40%

Retail + Office

MapletreeCom

Q4 – Mar12

1.554

$0.980

6.378%

$0.954

37.60%

Retail + Office

CapitaComm

Q1 – Mar12

1.9

$1.265

6.040%

$1.560

30.50%

Office (61%) + Retail (22%) + Hotel (17%)

FrasersCT

Q2 – Mar12

2.5

$1.665

6.006%

$1.420

30.90%

Retail

Fortune Reit HK$

2H – Dec11

13.5

$4.560

5.921%

$7.810

25.90%

Retail (HK)

CDL Htrust

Q1 – Mar12

2.78

$1.950

5.733%

$1.580

25.60%

Hotels

PLife REIT

Q1 – Mar12

2.56

$1.880

5.447%

$1.460

35.30%

Hospitals

CapitaMall

Q1 – Mar12

2.3

$1.910

4.843%

$1.570

38.30%

Retail + Office

NOTES :

  • Mkt Price is as on 29-Jun-12
  • Fortune : No DPU Payout as Semi-Annual Payout Policy
  • Saizen : No DPU Payout as Semi-Annual Payout Policy
  • A-REIT : Private Placement (3 May 12) – 150Mil @ $1.99 ; Listing on 14 May 12 2pm
  • PLife : Annualised DPU = 10.24ct
  • StarHill Global : Annualised DPU = 4.3ct
  • MCT : Annualised DPU = 6.25ct
  • CDL H-Trust : Annualised DPU = 11.18ct ; No DPU Payout as Semi-Annual Payout Policy
  • Suntec : Annualised DPU = 9.866ct
  • FCT :
    A total of $2.3 million has been retained in 1H12 (1Q12: $1.6 million + 2Q12: $0.7 million)

  • FirstREIT : Annualised DPU = 7.76ct ; DPU Includes 0.34ct on Gain from Divestment of Asset
  • CCT : Annualised DPU = 7.64ct ; No DPU Payout as Semi-Annual Payout Policy
  • MLT : DPU Includes 0.03ct from Gain on Disposal of Assets ; FY Changed from Dec to Mar
  • FCOT : Annualised DPU = 6.48ct
  • Sabana : Annualised DPU = 9.09ct
  • Cambridge : Annualised DPU = 4.71ct
  • CLT : Annualised DPU = 8.39ct ; Advanced DPU = 2.044ct (1-Jan-12 to 29-Mar-12)
  • CMT : Annualised DPU Payout = 9.25ct
  • CRCT : Annualised DPU Payout = 9.69ct ; No DPU Payout as Semi-Annual Payout Policy
  • K-REIT : Annualised DPU Payout = 7.64ct ; No DPU Payout as Semi-Annual Payout Policy ; Will Change to Quarterly DPU Payout Policy from Q312
  • K-REIT : Proposed 17-for-20 Rights Issue @ $0.85 (17-Oct-11)
  • LMIR : Proposed Rights 1-for-1 @ $0.31 ; SGX Annc (3-Oct-11) ; 1H11 Proforma – DPU 1.63ct ; NAV $0.5753 ; TERP $0.458 (Mkt $0.605)
  • AIMSAMPI Reit : 5-to-1 Stocks Consolidation on 29-Sep-11
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
  • FCOT : 5-to-1 Stocks Consolidation on 8-Feb-11 ; Circular (30-Dec-10) : Proforma FY10 (Sep) – DPU 5.55ct ; NAV $1.38 ; Issued Shares 620,857,225
  • FirstREIT : Proposed Rights 5-for-4 @ $0.50 ; SGX Annc (10-Nov-10) ; FY11 Forecast – DPU 6.4ct ; NAV $0.76 ; Gearing 17.25% ; TERP $0.70 (Mkt $0.95)
  • Sabana : Forecast DPU FY11 = 8.63ct ; FY12 = 8.67ct ; Listed on 26 Nov 10 2pm @ $1.05
  • MIT (IPO) : IPO Forecast – 3.1ct (FY11 – Mar) ; 7.46ct (FY12 – Mar) ; Listing : 21-Oct-10 2pm ; IPO Prospectus

  
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

FSL Trust

Q1 – Mar12

0.1

$0.189

2.688%

$0.490

Shipping Trust

Rickmers

Q1 – Mar12

0.6

$0.320

9.526%

$0.940

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2701:US$1 fm Yahoo Finance)
  • Rickmers : 9% Payout (of Cash flow available for distribution before payment to debt capital providers)

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q4 – Mar12

0.82

$0.400

8.200%

$0.279

Infrastructure – Water + Gas + Power

K-Green

FY11 – Dec

7.82

$0.995

7.859%

$1.070

Energy (Incineration) + Water (NEWater)

AscendasIndT

2H – Mar12

2.96

$0.760

7.789%

$0.710

India – Industrial Park

Indiabulls

Q4 – Mar12

—

$0.101

—

$0.453

India – Office

HPH Trust US$

FY12 – IPO

6.59

$0.710

9.282%

HK$7.75

Ports – HK + China

TCT

1H – Jun11

5.00

$1.635

6.116%

$4.140

China – Retail + Office + Industrial

PerennialCRT

Q1 – Mar12

0.94

$0.470

8.106%

$0.680

China Retail

NOTES :

  • PCRT : No DPU Payout as Semi-Annual Payout Policy ; DPU Includes $10.54Mil Additional Income (To Be Drawn from Earn-Out Fund)
  • CitySpring : Guidance for FY13 DPU = 3.28ct ie 0.82ct / Q
  • Indiabulls : No DPU Declared
  • PCRT : DPU = 2.35ct (9-Jun-11 to 31-Dec-11) ; Includes $25Mil Additional Income (Drawn from Earn-Out Fund)
  • TCT : DPU Declaration Delayed for 2H11 ; Above Yield Figure Uses 1H11 DPU
  • HPH Trust : 2H11 DPU Payout = HK23.4ct ; Above Table Uses IPO Forecast to Compute Yield (Both DPU & Mkt Price in US$)
  • a-iTrust : No DPU Payout as Semi-Annual Payout Policy
  • K-Green : 2H DPU Payout = 4.69ct ; 1H DPU Payout = 3.13ct ; Above Table Uses FY11 DPU = 7.82ct to Calculate Yield
  • CitySpring : Proposed 11-for-20 Rights Issue @ $0.39. TERP = $0.4835 @ $0.535 (Mkt Price) ; Annualised Yield (Profroma 2FY11) = 6.8% @ TERP (Before Rights = 8.4% @ $0.535)
  • PCRT : IPO DPU Forecast – FY11 = 2.35ct ; FY12 = 3.86ct ; Semi-Annual Dividend Payout with 1st Payout for Dec-11 ; Listing on 9-Jun-11 2pm
  • HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
  • Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)

 

June 29, 2012 Yield Comments Off on June 2012