October 2017

Results Announcement

  • 9 Oct 17 : SPHREIT
  • 13 Oct 17 : SB REIT
  • 16 Oct 17 : Keppel DC
  • 16 Oct 17 : KIT
  • 17 Oct 17 : Keppel REIT
  • 17 Oct 17 : ESR
  • 19 Oct 17 : FCOT
  • 20 Oct 17 (AM) : CCT
  • 20 Oct 17 : MGCCT
  • 20 Oct 17 : CMT
  • 23 Oct 17 : CRCT
  • 23 Oct 17 : MLT
  • 23 Oct 17 : FirstREIT
  • 23 Oct 17 : Sabana
  • 24 Oct 17 (AM) : AscottREIT
  • 24 Oct 17 : CLT
  • 24 Oct 17 : MIT
  • 25 Oct 17 (AM) : FCT
  • 25 Oct 17 : MCT
  • 25 Oct 17 : a-iTrust
  • 26 Oct 17 (AM) : AIMSAMPReit
  • 27 Oct 17 (AM) : CDL H-Trust
  • 27 Oct 17 (AM) : VIT
  • 27 Oct 17 : FHT
  • 27 Oct 17 : Starhill
  • 27 Oct 17 : Suntec
  • 30 Oct 17 : A-REIT
  • 30 Oct 17 : HPH Trust
  • 1 Nov 17 : OUE H-Trust
  • 2 Nov 17 (AM) : FLT
  • 2 Nov 17 (AM) : FE-HTrust
  • 2 Nov 17 : LMIR
  • 2 Nov 17 : OUE C-REIT
  • 3 Nov 17 (AM) : Manulife
  • 6 Nov 17 : A-HTrust
  • 7 Nov 17 : BHG
  • 8 Nov 17 : EC World
  • 8 Nov 17 : FSL
  • 9 Nov 17 (AM) : PLife
  • 9 Nov 17 : IREIT Global
  • 9 Nov 17 : Netlink
  • 10 Nov 17 : Daisin
  • 13 Nov 17 (AM) : APTT
  • 13 Nov 17 : Accordia
  • 14 Nov 17 : RHT

 

REITs : Average Yield = 6.325%

REIT

Period

Mkt

DPU cts

Yield

NAV

Gearing

Assets Type

SoilbuildBizREIT

Q3 – Sep17

$0.660

1.3740

8.327%

$0.710

37.90%

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

Q2 – Jun17

$0.435

0.9000

8.276%

$0.368

30.60%

 Retail (Indonesia) – 21
EC World Reit

Q2 – Jun17

$0.780

1.5400

7.897%

$0.900

29.20%

 Port, Warehouse & e-Commerce Infrastructure in China
Viva Ind Tr

Q3 – Sep17

$0.980

1.9000

7.692%

$0.788

39.60%

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

1H – Jun17

$0.765

2.8900

7.556%

$0.672

41.30%

 Offices : Germany (5)
Cache Log Trust

Q3 – Sep17

$0.820

1.5410

7.456%

$0.769

43.60%

 Industrial (19) : Singapore (82%) + Australia (17%) + China (1%) by Gross Revenue
BHG Retail Reit

1H – Jun17

$0.740

2.7400

7.405%

$0.830

32.40%

 Retail (China) – 5
AIMSAMP Cap Reit

Q2 – Sep17

$1.445

2.5500

7.336%

$1.364

37.30%

 Industrial (27) : Singapore + Australia
ManulifeREIT USD

1H – Jun17

$0.905

3.2300

7.138%

$0.840

30.40%

 Offices : USA (3)
Frasers Com Tr

Q4 – Sep17

$1.385

2.4070

6.952%

$1.580

34.70%

 Singapore (54.4%) + Australia (45.6%) by NPI
ESR-REIT

Q3 – Sep17

$0.555

0.9640

6.948%

$0.632

36.70%

 Industrial (48)
Sabana REIT

Q3 – Sep17

$0.460

0.7900

6.804%

$0.560

36.00%

 Industrial (20)
OUE Com Reit

1H – Jun17

$0.720

2.3800

6.778%

$0.860

36.40%

 Office (83.1%) + Retail (16.9%) ; Singapore (80.4%) + China (19.6%) by Revenue
Ascendas-hTrust

Q1 – Jun17

$0.875

1.3100

6.514%

$0.890

32.70%

 Hotels (11) : Australia (48%) + Japan (27%) + Singapore (14%) + China (10%) by NPI
OUE Htrust

Q2 – Jun17

$0.805

1.2100

6.460%

$0.760

38.20%

 Hotel (78%) + Retail (22%) 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
Mapletree GCC Tr

1H – Sep17

$1.175

3.7140

6.336%

$1.246

38.50%

 Retail + Office : HK (69.3%) + China (30.7%) by NPI ; Retail (61.4%) + Office (36.6%) by NPI
First REIT

Q3 – Sep17

$1.385

2.1400

6.195%

$1.006

32.60%

 Hospitals (14 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3)
Mapletree Ind Tr

Q2 – Sep17

$1.940

3.0000

6.186%

$1.410

30.00%

 Industrial (85)
StarhillGbl Reit

Q1 – Sep17

$0.770

1.2000

6.182%

$0.910

35.40%

 Retail + Office : Singapore (61.1%) + Australia (23.7%) + Malaysia (11.4%) + Others (2.9%) by Revenue
CapitaR China Tr

Q3 – Sep17

$1.660

2.3700

6.084%

$1.610

35.40%

 Retail (China) – 10
Frasers L&I Tr

Q3 – Jun17

$1.115

1.7500

5.967%

$0.920

29.30%

 Industrial (Australia) – 54
Mapletree Log Tr

Q2 – Sep17

$1.270

1.8870

5.943%

$1.030

33.70%

 Industrial (124)
Ascott Reit

Q3 – Sep17

$1.195

1.6900

5.931%

$1.220

31.90%

 Serviced Apts (74) : Asia Pacific (59.6%) + Europe (27.9%) + US (12.5%) by Assets
Far East HTrust

Q2 – Jun17

$0.700

0.9700

5.914%

$0.897

32.80%

 Hotels (64.8%) + Commercial (22.3%) + Serviced Apts (12.9%) by Revenue
Ascendas Reit

1H – Sep17

$2.740

8.1080

5.822%

$2.130

33.10%

 Industrial (131) : Singapore (85%) + Australia (15%) by Valuation
CDL Htrust

Q3 – Sep17

$1.635

2.2900

5.810%

$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

$1.555

2.2400

5.794%

$1.370

36.40%

 Retail + Office
SPHREIT

Q4 – Aug17

$1.000

1.4200

5.530%

$0.950

25.40%

 Retail (2)
CapitaMall Trust

Q3 – Sep17

$2.020

2.7800

5.515%

$1.920

34.70%

 Retail (16) + Office
Frasers Cpt Tr

Q4 – Sep17

$2.170

2.9700

5.484%

$2.020

29.00%

 Retail (6) + 31.17% of Hektar (MREIT)
Fortune Reit HKD

1H – Jun17

$9.420

25.5300

5.420%

$13.390

28.40%

 Retail (HK) – 17
Suntec Reit

Q3 – Sep17

$1.950

2.4830

5.127%

$2.090

36.80%

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

Q3 – Sep17

$1.375

1.7400

5.062%

$0.960

32.10%

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

Q3 – Sep17

$1.175

1.4000

4.766%

$1.410

38.80%

 Office (8) : Singapore (87%) + Australia (13%) by Asset Value
CapitaCom Trust

Q3 – Sep17

$1.735

2.0200

4.657%

$1.820

36.00%

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

Q2 – Jun17

$2.850

3.320

4.351%

$1.680

37.40%

 Hospitals + Nursing Homes = 49 : Singapore 60% + Japan 40% by Gross Revenue

NOTES :

  • Mkt Price is as on 31-Oct-17
  • 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
  • FE-HTrust : Above Yield is Computed using last 4Qs DPU : 4.14ct = 1.12ct (Dec16) + 1.12ct (Sep16) + 0.97ct (Jun17) + 0.93ct (Mar17)
  • A-HTrust : Above Yield is Computed Using latest 4Qs DPU = 5.7ct = 1.31ct (Q118) + 3.01ct (2H17) + 1.38ct (Q217) ; DPU Not Paid as Semi-Annual Payout Policy
  • OUE C-REIT : Above Yield is Computed using last 4Qs DPU : 5.09ct = 2.38ct (1H17) + 2.5ct (2H16) ; Advanced DPU = 1ct (1-Jan-17 to 16-Mar-17)
  • FLT : Advanced DPU = 1.75ct (1-Apr-17 to 5-Jul-17)
  • PLife : Above Yield is Computed Using Recurring DPU = 3.10ct ie Excl. 0.22ct Divestment Gain (2nd of 4 Tranches)
  • 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

Q2 – Jun17

$0.083

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

$0.555

0.930

6.703%

$0.307

Infrastructure
Ascendas-iTrust

1H – Sep17

$1.150

2.810

4.887%

$0.790

India – Industrial Park (7)
Indiabulls Trust

2H – Mar17

$0.255

0.000

0.250%

$1.273

India – Office
HPH Trust USD

1H – Jun17

$0.430

9.500

7.782%

HK$4.53

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

2H – Jun17

$0.840

2.370

5.643%

$0.845

India – Healthcare (18)
Asian Pay TV Tr

Q2 – Jun17

$0.580

1.625

11.207%

$0.850

Taiwan PayTV
Accordia Golf Tr

Q1 – Jun17

$0.750

2.000

8.293%

$0.890

Japan Golf Courses – 89
Dasin Retail Tr

1H – Jun17

$0.805

3.010

7.478%

$1.490

China – Retail (4)
NetLink NBN Tr

FY18 – IPO

$0.825

2.930

5.335%

$0.864

Fibre Network Infrastructure

NOTES :

  • CroesusRT : Delisted on 26-Oct-17
  • Accordia : Above Yield Computed Using DPU = 6.22ct = 3.59ct (2H17 – Mar17) + 0.73ct (Q217 – Sep16) + 2ct (Q118 – Jun17) ; DPU Not Paid as Semi-Annual Payout Policy
  • HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7995 : 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
October 31, 2017 Yield No Comments »

Performance – September 2017

STI +14.7% : 3304.29 (Sep-17) vs 2880.76 (Dec-16)

Rank – Capital Gains

REIT

Sep-17

Dec-16

Gain

VIT

$ 0.935

$ 0.755

23.8%

Sabana

$ 0.465

$ 0.380

22.4%

Mapletree GCC Tr

$ 1.155

$ 0.950

21.6%

A-HTrust

$ 0.855

$ 0.705

21.3%

CDL Htrust

$ 1.610

$ 1.340

20.1%

MapletreeLog

$ 1.220

$ 1.020

19.6%

CapitaRChina

$ 1.635

$ 1.370

19.3%

Ascendasreit

$ 2.700

$ 2.270

18.9%

OUE H-Trust

$ 0.780

$ 0.660

18.2%

Fraser LT

$ 1.090

$ 0.925

17.8%

Frasers Htrust

$ 0.760

$ 0.650

16.9%

Lippo Malls Tr

$ 0.430

$ 0.370

16.2%

ParkwayLife Reit

$ 2.740

$ 2.360

16.1%

K-REIT

$ 1.170

$ 1.020

14.7%

MIT

$ 1.885

$ 1.645

14.6%

BHG REIT

$ 0.745

$ 0.655

13.7%

SuntecReit

$ 1.875

$ 1.650

13.6%

Keppel DC REIT

$ 1.345

$ 1.185

13.5%

Manulife

$ 0.935

$ 0.825

13.3%

FrasersCT

$ 2.130

$ 1.900

12.1%

CapitaComm

$ 1.655

$ 1.480

11.8%

FE-HTrust

$ 0.670

$ 0.600

11.7%

MCT

$ 1.550

$ 1.395

11.1%

CapitaMall

$ 2.080

$ 1.885

10.3%

FrasersComm

$ 1.380

$ 1.260

9.5%

SB REIT

$ 0.700

$ 0.640

9.4%

AIMSAMP Cap Reit

$ 1.420

$ 1.310

8.4%

ESR-REIT

$ 0.575

$ 0.540

6.5%

AscottREIT

$ 1.195

$ 1.130

5.8%

Fortune Reit HK$

$ 9.100

$ 8.610

5.7%

IREIT Global

$ 0.755

$ 0.715

5.6%

First REIT

$ 1.335

$ 1.265

5.5%

SPHREIT

$ 1.000

$ 0.950

5.3%

StarhillGbl Reit

$ 0.770

$ 0.740

4.1%

OUE C-REIT

$ 0.720

$ 0.695

3.6%

CLT

$ 0.835

$ 0.810

3.1%

EC World

$ 0.780

$ 0.760

2.6%

NOTES :

  • Not Adjusted for Rights or New Issues Which May Be at a Discount
  • Sep-17 : End Sep-17 Mkt Price
  • Dec-16 : End Dec-16 Mkt Price
  • Gain : Capital Gains = (Sep-17 Mkt Price – Dec-16 Mkt Price) / (Dec-16 Mkt Price)
October 1, 2017 Performance Comments Off on Performance – September 2017

September 2017

 

 

 

REITs : Average Yield = 6.473% (Excludes Saizen)

REIT

Period

Mkt

DPU cts

Yield

NAV

Gearing

Assets Type

Cache Log Trust

Q2 – Jun17

$0.835

1.8000

8.647%

$0.770

43.40%

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

SoilbuildBizREIT

Q2 – Jun17

$0.700

1.4660

8.377%

$0.720

37.90%

Industrial (12) : Business Park 32% + Industrial 68% by NPI

Lippo Malls Tr

Q2 – Jun17

$0.430

0.9000

8.372%

$0.368

30.60%

Retail (Indonesia) – 21

Viva Ind Tr

Q2 – Jun17

$0.935

1.8610

7.983%

$0.790

39.10%

Industrial (9) : Biz Park (50.4%) + Light Industrial (23.4%) + Logistics (15.4%) + Hotel (10.8%) by NPI

EC World Reit

Q2 – Jun17

$0.780

1.5400

7.897%

$0.900

29.20%

Port, Warehouse & e-Commerce Infrastructure in China

IREIT Global

1H – Jun17

$0.755

2.8900

7.656%

$0.672

41.30%

Offices : Germany (5)

AIMSAMP Cap Reit

Q1 – Jun17

$1.420

2.5000

7.606%

$1.386

36.30%

Industrial (27) : Singapore + Australia

BHG Retail Reit

1H – Jun17

$0.745

2.7400

7.356%

$0.830

32.40%

Retail (China) – 5

Sabana REIT

Q2 – Jun17

$0.465

0.8100

6.989%

$0.560

37.00%

Industrial (21)

Frasers Com Tr

Q3 – Jun17

$1.380

2.3979

6.971%

$1.520

35.90%

Singapore (52.7%) + Australia (47.3%) by NPI

ManulifeREIT USD

1H – Jun17

$0.935

3.2300

6.909%

$0.840

30.40%

Offices : USA (3)

OUE Com Reit

1H – Jun17

$0.720

2.3800

6.778%

$0.860

36.40%

Office (83.1%) + Retail (16.9%) ; Singapore (80.4%) + China (19.6%) by Revenue

OUE Htrust

Q2 – Jun17

$0.780

1.2100

6.667%

$0.760

38.20%

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

Ascendas-hTrust

Q1 – Jun17

$0.855

1.3100

6.667%

$0.890

32.70%

Hotels (11) : Australia (48%) + Japan (27%) + Singapore (14%) + China (10%) by NPI

ESR-REIT

Q2 – Jun17

$0.575

0.9560

6.650%

$0.633

37.90%

Industrial (49)

FHT

Q3 – Jun17

$0.760

1.2374

6.513%

$0.749

34.10%

Hotel (9) + Serviced Apt (6) : Australia (38%) + Singapore (20%) + UK (17%) + Japan (14%) + Malaysia (6%) + Germany (5%) by NPI

Ascott Reit

1H – Jun17

$1.195

3.3560

6.484%

$1.190

32.40%

Serviced Apts (73) : Asia Pacific (61.6%) + Europe (28.4%) + US (10%) by Assets

First REIT

Q2 – Jun17

$1.335

2.1400

6.464%

$1.004

31.00%

Hospitals (13 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3)

Mapletree GCC Tr

Q1 – Jun17

$1.155

1.8510

6.357%

$1.244

39.40%

Retail + Office : HK (69.4%) + China (30.6%) by NPI ; Retail (62%) + Office (36.5%) by NPI

Mapletree Ind Tr

Q1 – Jun17

$1.885

2.9200

6.196%

$1.400

29.80%

Industrial (86)

Mapletree Log Tr

Q1 – Jun17

$1.220

1.8870

6.187%

$1.020

39.00%

Industrial (127)

Far East HTrust

Q2 – Jun17

$0.670

0.9700

6.179%

$0.897

32.80%

Hotels (64.8%) + Commercial (22.3%) + Serviced Apts (12.9%) by Revenue

CapitaR China Tr

1H – Jun17

$1.635

5.3600

6.171%

$1.520

35.30%

Retail (China) – 11

StarhillGbl Reit

Q4 – Jun17

$0.770

1.1800

6.143%

$0.910

35.30%

Retail + Office : Singapore (62.5%) + Australia (23.0%) + Malaysia (12.5%) + Others (2.0%) by Revenue

Frasers L&I Tr

Q3 – Jun17

$1.090

1.7500

6.104%

$0.920

29.30%

Industrial (Australia) – 54

CDL Htrust

1H – Jun17

$1.610

4.1000

5.994%

$1.545

38.70%

Hotels : Singapore (58.1%) + Australia (10.2%) + Maldives (7.6%) + NZ (14.2%) + UK (6.1%) + Japan (3.7%) by NPI

Ascendas Reit

Q1 – Jun17

$2.700

4.0490

5.811%

$2.040

33.90%

Industrial (132) : Singapore (86%) + Australia (14%) by Valuation

Mapletree Com Tr

Q1 – Jun17

$1.550

2.2300

5.690%

$1.370

36.40%

Retail + Office

Fortune Reit HKD

1H – Jun17

$9.100

25.5300

5.611%

$13.390

28.40%

Retail (HK) – 17

CapitaCom Trust

1H – Jun17

$1.655

4.5900

5.547%

$1.770

35.20%

Office (73%) + Retail (16%) + Hotel (11%) by Gross Rental Income

SPHREIT

Q3 – May17

$1.000

1.3700

5.520%

$0.940

25.60%

Retail (2)

Frasers Cpt Tr

Q3 – Jun17

$2.130

3.0000

5.514%

$1.920

30.00%

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

Keppel DC REIT

1H – Jun17

$1.345

3.6300

5.398%

$0.931

27.70%

Data Centres – 12 + 1 (Under Devt)

Suntec Reit

Q2 – Jun17

$1.875

2.4930

5.359%

$2.094

36.10%

Office (69%) + Retail (28%) + Convention (3%) by Income

CapitaMall Trust

Q2 – Jun17

$2.080

2.7500

5.356%

$1.910

34.70%

Retail (16) + Office

Keppel Reit

Q2 – Jun17

$1.170

1.4200

4.855%

$1.400

38.50%

Office (8) : Singapore (89%) + Australia (11%) by Asset Value

ParkwayLife Reit

Q2 – Jun17

$2.740

3.3200

4.526%

$1.680

37.40%

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-Sep-17
  • FE-HTrust : Above Yield is Computed using last 4Qs DPU : 4.14ct = 1.12ct (Dec16) + 1.12ct (Sep16) + 0.97ct (Jun17) + 0.93ct (Mar17)
  • A-HTrust : Above Yield is Computed Using latest 4Qs DPU = 5.7ct = 1.31ct (Q118) + 3.01ct (2H17) + 1.38ct (Q217) ; DPU Not Paid as Semi-Annual Payout Policy
  • OUE C-REIT : Above Yield is Computed using last 4Qs DPU : 5.09ct = 2.38ct (1H17) + 2.5ct (2H16) ; Advanced DPU = 1ct (1-Jan-17 to 16-Mar-17)
  • FLT : Advanced DPU = 1.75ct (1-Apr-17 to 5-Jul-17)
  • YTL StarHill : Above Yield is Computed using last 4Qs DPU : 4.92ct = 1.26ct (Dec16) + 1.30ct (Sep16) + 1. 18ct (Jun17) + 1.18ct (Mar17)
  • MGCCT : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield is Computed Using latest 4Qs DPU : 7.342ct = 1.851ct (Q117) + 3.731ct (2H17) + 1.76ct (Q216)
  • CDL H-Trust :Above Yield is Computed using last 4Qs DPU : 10.2ct = 4.1ct (1H17) + 5.55ct (2H16)
  • A-REIT : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield is Computed Using latest 4Qs DPU = 15.689ct = 4.049ct (Q118) + 3.993ct (Q317) + 3.852ct (Q417) + 3.795ct (Q217)
  • MCT : Above Yield is Computed using last 4Qs DPU : 8.82ct = 2.28ct (Dec16) + 2.05ct (Sep16) + 2.23ct (Jun17) + 2.26ct (Mar17)
  • FHT : DPU Not Paid as Semi-Annual Payout Policy
  • CRCT : Above Yield Uses Latest 4Qs DPU = 4.73ct (2H16) + 5.36ct (1H17) = 10.09ct
  • AIMSAMPReit : Above Yield is Computed using last 4Qs DPU : 10.08ct = 2.77ct (Dec16) + 2.75ct (Sep16) + 2.5ct (Jun17) + 2.78ct (Mar17)
  • Suntec : Above Yield is Computed Using latest 4Qs DPU = 10.049ct = 2.596ct (Q416) + 2.535ct (Q316) + 2.493ct (Q217) + 2.425ct (Q117)
  • VIT : Annualised DPU = 7.464ct
  • Sabana : Annualised DPU = 3.25ct
  • AscottREIT : Above Yield Uses Latest 4Qs DPU = 4.392ct (2H16) + 3.356ct (1H17) = 7.748ct
  • FCOT : Annualised DPU = 9.62ct
  • CLT : Annualised DPU = 7.22ct
  • CMT : Above Yield Uses Latest 4Qs DPU = 2.73ct (Mar17) + 2.88ct (Dec16) + 2.78ct (Sep16) + 2.75ct (Jun17) = 11.14ct
  • PLife : Above Yield is Computed Using Recurring DPU = 3.10ct ie Excl. 0.22ct Divestment Gain (2nd of 4 Tranches)
  • FCT : Above Yield is Computed using last 4Qs DPU : 11.745ct = 2.89ct (Dec16) + 2.815ct (Sep16) + 3.00ct (Jun17) + 3.040ct (Mar17) ; Jun16 DPU Incl. $2.1M Retained in Prior Qs
  • FirstREIT : Annualised DPU = 8.63ct
  • ESR REIT : Annualised DPU = 3.824ct
  • SPHREIT : Above Yield is Computed using last 4Qs DPU = 1.34ct (Nov16) + 1.41ct (Aug16) + 1.37ct (May17) + 1.40ct (Feb17) =5.52ct
  • 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

Q2 – Jun17

$0.079

0.00

0.000%

$0.390

Shipping Trust

NOTES :

  • All in US$ except for FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3585 : 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

$0.540

0.930

6.889%

$0.307

Infrastructure

Ascendas-iTrust

Q1 – Jun17

$1.085

1.310

4.829%

$0.810

India – Industrial Park (7)

Indiabulls Trust

2H – Mar17

$0.255

0.000

0.250%

$1.273

India – Office

HPH Trust USD

1H – Jun17

$0.460

9.500

7.264%

HK$4.53

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

RHT HealthTrust

2H – Jun17

$0.845

2.370

5.609%

$0.845

India – Healthcare (18)

Croesus Rtrust

2H – Jun17

$1.165

4.060

6.918%

Y79.63

Japan – Retail (11)

Asian Pay TV Tr

Q2 – Jun17

$0.560

1.625

11.607%

$0.850

Taiwan PayTV

Accordia Golf Tr

Q1 – Jun17

$0.730

2.000

8.521%

$0.890

Japan Golf Courses – 89

Dasin Retail Tr

1H – Jun17

$0.830

3.010

7.253%

$1.490

China – Retail (4)

NetLink NBN Tr

FY18 – IPO

$0.825

2.930

5.335%

$0.864

Fibre Network Infrastructure

NOTES :

  • a-iTrust : DPU Not Paid as Semi-Annual Payout Policy
  • Accordia : Above Yield Computed Using DPU = 6.22ct = 3.59ct (2H17 – Mar17) + 0.73ct (Q217 – Sep16) + 2ct (Q118 – Jun17) ; DPU Not Paid as Semi-Annual Payout Policy
  • CroesusRT : Exchange Rate Y100 = S$1.2079 ; Annualised DPU = 8.06ct ; Hedged Rate – FY17 @ Y83.57 ; FY18 @ Y76.39 ; FY19 @ Y72.72
  • HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.8107 : 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
September 30, 2017 Yield Comments Off on September 2017

Performance – August 2017

STI +13.76% : 3277.26 (Aug-17) vs 2880.76 (Dec-16)

Rank – Capital Gains

REIT

Aug-17

Dec-16

Gain

Sabana

$ 0.480

$ 0.380

26.3%

VIT

$ 0.945

$ 0.755

25.2%

CDL Htrust

$ 1.630

$ 1.340

21.6%

MapletreeLog

$ 1.230

$ 1.020

20.6%

A-HTrust

$ 0.835

$ 0.705

18.4%

Mapletree GCC Tr

$ 1.125

$ 0.950

18.4%

Lippo Malls Tr

$ 0.435

$ 0.370

17.6%

CapitaComm

$ 1.740

$ 1.480

17.6%

Ascendasreit

$ 2.660

$ 2.270

17.2%

Manulife

$ 0.965

$ 0.825

17.0%

CapitaRChina

$ 1.595

$ 1.370

16.4%

Fraser LT

$ 1.075

$ 0.925

16.2%

OUE H-Trust

$ 0.760

$ 0.660

15.2%

CapitaMall

$ 2.170

$ 1.885

15.1%

SuntecReit

$ 1.895

$ 1.650

14.8%

Frasers Htrust

$ 0.745

$ 0.650

14.6%

BHG REIT

$ 0.750

$ 0.655

14.5%

SB REIT

$ 0.730

$ 0.640

14.1%

ParkwayLife Reit

$ 2.690

$ 2.360

14.0%

K-REIT

$ 1.160

$ 1.020

13.7%

MIT

$ 1.855

$ 1.645

12.8%

FrasersCT

$ 2.110

$ 1.900

11.1%

FrasersComm

$ 1.395

$ 1.260

10.7%

MCT

$ 1.535

$ 1.395

10.0%

FE-HTrust

$ 0.660

$ 0.600

10.0%

Keppel DC REIT

$ 1.285

$ 1.185

8.4%

CLT

$ 0.875

$ 0.810

8.0%

Fortune Reit HK$

$ 9.240

$ 8.610

7.3%

AIMSAMP Cap Reit

$ 1.405

$ 1.310

7.3%

IREIT Global

$ 0.765

$ 0.715

7.0%

SPHREIT

$ 1.000

$ 0.950

5.3%

First REIT

$ 1.330

$ 1.265

5.1%

AscottREIT

$ 1.175

$ 1.130

4.0%

OUE C-REIT

$ 0.715

$ 0.695

2.9%

ESR-REIT

$ 0.555

$ 0.540

2.8%

EC World

$ 0.775

$ 0.760

2.0%

StarhillGbl Reit

$ 0.745

$ 0.740

0.7%

NOTES :

  • Not Adjusted for Rights or New Issues Which May Be at a Discount
  • Aug-17 : End Aug-17 Mkt Price
  • Dec-16 : End Dec-16 Mkt Price
  • Gain : Capital Gains = (Aug-17 Mkt Price – Dec-16 Mkt Price) / (Dec-16 Mkt Price)
September 1, 2017 Performance Comments Off on Performance – August 2017

August 2017

 
 

Results Announcement

  • 1 Aug 17 : OUE H-Trust
  • 2 Aug 17 : OUE C-REIT
  • 3 Aug 17 : A-HTrust
  • 3 Aug 17 : EC World
  • 3 Aug 17 : LMIR
  • 3 Aug 17 : RHT
  • 3 Aug 17 : FSL
  • 4 Aug 17 (AM) : FE-HTrust
  • 8 Aug 17 (AM) : Manulife
  • 8 Aug 17 : BHG REIT
  • 10 Aug 17 : IREIT
  • 14 Aug 17 (AM) : APTT
  • 14 Aug 17 : Accordia
  • 18 Aug 17 (AM) : CRT

 
 

REITs : Average Yield = 6.475% (Excludes Saizen)

REIT 

Period 

Mkt  

DPU cts 

Yield  

NAV 

Gearing  

Assets Type  

Lippo Malls Tr  

Q2 – Jun17  

$0.435  

0.900 

8.276%

$0.368  

30.60% 

Retail (Indonesia) – 21  

Cache Log Trust  

Q2 – Jun17  

$0.875  

1.8000 

8.251% 

$0.770  

43.40% 

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

SoilbuildBizREIT  

Q2 – Jun17  

$0.730  

1.4660 

8.033% 

$0.720

37.90% 

Industrial (12) : Business Park 32% + Industrial 68% by NPI  

EC World Reit  

Q2 – Jun17  

$0.775  

1.5400 

7.948% 

$0.900  

29.20% 

Port, Warehouse & e-Commerce Infrastructure in China  

Viva Ind Tr  

Q2 – Jun17  

$0.945  

1.861 

7.898% 

$0.790  

39.10%

Industrial (9) : Biz Park (50.4%) + Light Industrial (23.4%) + Logistics (15.4%) + Hotel (10.8%) by NPI  

AIMSAMP Cap Reit  

Q1 – Jun17  

$1.405  

2.5000 

7.687% 

$1.386  

36.30% 

Industrial (27) : Singapore + Australia  

IREIT Global  

1H – Jun17  

$0.765

2.8900 

7.556% 

$0.676  

41.30% 

Offices : Germany (5)  

BHG Retail Reit  

1H – Jun17  

$0.750  

1.3500 

7.200% 

$0.830  

32.40% 

Retail (China) – 5  

Frasers Com Tr  

Q3 – Jun17  

$1.395  

2.398 

6.896% 

$1.520  

35.90% 

Singapore (52.7%) + Australia (47.3%) by NPI

ESR-REIT  

Q2 – Jun17  

$0.555  

0.9560 

6.890% 

$0.633  

37.90% 

Industrial (49)  

OUE Htrust  

Q2 – Jun17  

$0.760  

1.2100 

6.842% 

$0.760  

38.20% 

Hotel (78%) + Retail (22%) by NPI  

Ascendas-hTrust  

Q1 – Jun17  

$0.835  

1.3100 

6.826% 

$0.890  

32.70% 

Hotels (11) : Australia (48%) + Japan (27%) + Singapore (14%) + China (10%) by NPI

OUE Com Reit  

1H – Jun17  

$0.715  

2.380 

6.825% 

$0.860  

36.40% 

Office (83.1%) + Retail (16.9%) ; Singapore (80.4%) + China (19.6%) by Revenue  

Sabana REIT  

Q2 – Jun17

$0.480  

0.8100 

6.771% 

$0.560  

37.00% 

Industrial (21)  

ManulifeREIT USD  

1H – Jun17  

$0.965  

3.2300 

6.694% 

$0.840  

30.40% 

Offices : USA (3)  

FHT  

Q3 – Jun17  

$0.745  

1.2374 

6.644% 

$0.749  

34.10% 

Hotel (9) + Serviced Apt (6) : Australia (38%) + Singapore (20%) + UK (17%) + Japan (14%) + Malaysia (6%) + Germany (5%) by NPI

Ascott Reit  

1H – Jun17  

$1.175  

3.356 

6.594% 

$1.190  

32.40% 

Serviced Apts (73) : Asia Pacific (61.6%) + Europe (28.4%) + US (10%) by Assets  

Mapletree GCC Tr  

Q1 – Jun17  

$1.125  

1.8510 

6.526% 

$1.244  

39.40% 

Retail + Office : HK (69.4%) + China (30.6%) by NPI ; Retail (62%) + Office (36.5%) by NPI  

First REIT  

Q2 – Jun17  

$1.330  

2.1400 

6.489% 

$1.004  

31.00% 

Hospitals (13 – 1 in S Korea) + Hotel (Indonesia – 2) + Nursing Home (Singapore – 3)

StarhillGbl Reit  

Q4 – Jun17  

$0.745  

1.1800 

6.349% 

$0.910  

35.30% 

Retail + Office : Singapore (62.5%) + Australia (23.0%) + Malaysia (12.5%) + Others (2.0%) by Revenue  

CapitaR China Tr  

1H – Jun17  

$1.595  

5.360 

6.326% 

$1.520

35.30% 

Retail (China) – 11  

Mapletree Ind Tr  

Q1 – Jun17  

$1.855  

2.9200 

6.296% 

$1.400  

29.80% 

Industrial (86)  

Far East HTrust  

Q2 – Jun17  

$0.660  

0.9700 

6.273% 

$0.897  

32.80% 

Hotels (64.8%) + Commercial (22.3%) + Serviced Apts (12.9%) by Revenue

Frasers L&I Tr  

Q3 – Jun17  

$1.075  

1.7500 

6.189% 

$0.920  

29.30% 

Industrial (Australia) – 54  

Mapletree Log Tr  

Q1 – Jun17  

$1.230  

1.887 

6.137% 

$1.020  

39.00% 

Industrial (127)  

CDL Htrust  

1H – Jun17  

$1.630  

4.1000 

5.920% 

$1.545  

38.70%

Hotels : Singapore (58.1%) + Australia (10.2%) + Maldives (7.6%) + NZ (14.2%) + UK (6.1%) + Japan (3.7%) by NPI  

Ascendas Reit  

Q1 – Jun17  

$2.660  

4.0490 

5.898% 

$2.040  

33.90% 

Industrial (132) : Singapore (86%) + Australia (14%) by Valuation  

Mapletree Com Tr

Q1 – Jun17  

$1.535  

2.2300 

5.746% 

$1.370  

36.40% 

Retail + Office  

Keppel DC REIT  

1H – Jun17  

$1.285  

3.630 

5.650% 

$0.931  

27.70% 

Data Centres – 12 + 1 (Under Devt)  

Frasers Cpt Tr  

Q3 – Jun17  

$2.110  

3.0000 

5.566% 

$1.920  

30.00%

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

Fortune Reit HKD  

1H – Jun17  

$9.240  

25.5300 

5.526% 

$13.390  

28.40% 

Retail (HK) – 17  

SPHREIT  

Q3 – May17  

$1.000  

1.3700 

5.520% 

$0.940  

25.60% 

Retail (2)  

Suntec Reit  

Q2 – Jun17  

$1.895  

2.493 

5.303% 

$2.094  

36.10% 

Office (69%) + Retail (28%) + Convention (3%) by Income  

CapitaCom Trust  

1H – Jun17  

$1.740  

4.5900 

5.276% 

$1.770  

35.20% 

Office (73%) + Retail (16%) + Hotel (11%) by Gross Rental Income  

CapitaMall Trust  

Q2 – Jun17  

$2.170  

2.750

5.134% 

$1.910  

34.70% 

Retail (16) + Office  

Keppel Reit  

Q2 – Jun17  

$1.160  

1.4200 

4.897% 

$1.400  

38.50% 

Office (8) : Singapore (89%) + Australia (11%) by Asset Value  

ParkwayLife Reit  

Q2 – Jun17  

$2.690  

3.320 

4.610% 

$1.680  

37.40% 

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 31-Aug-17
  • FE-HTrust : Above Yield is Computed using last 4Qs DPU : 4.14ct = 1.12ct (Dec16) + 1.12ct (Sep16) + 0.97ct (Jun17) + 0.93ct (Mar17)
  • A-HTrust : Above Yield is Computed Using latest 4Qs DPU = 5.7ct = 1.31ct (Q118) + 3.01ct (2H17) + 1.38ct (Q217) ; DPU Not Paid as Semi-Annual Payout Policy
  • OUE C-REIT : Above Yield is Computed using last 4Qs DPU : 5.09ct = 2.38ct (1H17) + 2.5ct (2H16) ; Advanced DPU = 1ct (1-Jan-17 to 16-Mar-17)
  • FLT : Advanced DPU = 1.75ct (1-Apr-17 to 5-Jul-17)
  • YTL StarHill : Above Yield is Computed using last 4Qs DPU : 4.92ct = 1.26ct (Dec16) + 1.30ct (Sep16) + 1. 18ct (Jun17) + 1.18ct (Mar17)
  • MGCCT : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield is Computed Using latest 4Qs DPU : 7.342ct = 1.851ct (Q117) + 3.731ct (2H17) + 1.76ct (Q216)
  • CDL H-Trust :Above Yield is Computed using last 4Qs DPU : 10.2ct = 4.1ct (1H17) + 5.55ct (2H16)
  • A-REIT : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield is Computed Using latest 4Qs DPU = 15.689ct = 4.049ct (Q118) + 3.993ct (Q317) + 3.852ct (Q417) + 3.795ct (Q217)
  • MCT : Above Yield is Computed using last 4Qs DPU : 8.82ct = 2.28ct (Dec16) + 2.05ct (Sep16) + 2.23ct (Jun17) + 2.26ct (Mar17)
  • FHT : DPU Not Paid as Semi-Annual Payout Policy
  • CRCT : Above Yield Uses Latest 4Qs DPU = 4.73ct (2H16) + 5.36ct (1H17) = 10.09ct
  • AIMSAMPReit : Above Yield is Computed using last 4Qs DPU : 10.08ct = 2.77ct (Dec16) + 2.75ct (Sep16) + 2.5ct (Jun17) + 2.78ct (Mar17)
  • Suntec : Above Yield is Computed Using latest 4Qs DPU = 10.049ct = 2.596ct (Q416) + 2.535ct (Q316) + 2.493ct (Q217) + 2.425ct (Q117)
  • VIT : Annualised DPU = 7.464ct
  • Sabana : Annualised DPU = 3.25ct
  • AscottREIT : Above Yield Uses Latest 4Qs DPU = 4.392ct (2H16) + 3.356ct (1H17) = 7.748ct
  • FCOT : Annualised DPU = 9.62ct
  • CLT : Annualised DPU = 7.22ct
  • CMT : Above Yield Uses Latest 4Qs DPU = 2.73ct (Mar17) + 2.88ct (Dec16) + 2.78ct (Sep16) + 2.75ct (Jun17) = 11.14ct
  • PLife : Above Yield is Computed Using Recurring DPU = 3.10ct ie Excl. 0.22ct Divestment Gain (2nd of 4 Tranches)
  • FCT : Above Yield is Computed using last 4Qs DPU : 11.745ct = 2.89ct (Dec16) + 2.815ct (Sep16) + 3.00ct (Jun17) + 3.040ct (Mar17) ; Jun16 DPU Incl. $2.1M Retained in Prior Qs
  • FirstREIT : Annualised DPU = 8.63ct
  • ESR REIT : Annualised DPU = 3.824ct
  • SPHREIT : Above Yield is Computed using last 4Qs DPU = 1.34ct (Nov16) + 1.41ct (Aug16) + 1.37ct (May17) + 1.40ct (Feb17) =5.52ct
  • 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

Q2 – Jun17

$0.096

0.00

0.000%

$0.390

Shipping Trust

NOTES :

  • All in US$ except for FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.35 : 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

$0.560

0.930

6.643%

$0.307

Infrastructure

Ascendas-iTrust

Q1 – Jun17

$1.155

1.310

4.537%

$0.810

India – Industrial Park (7)

Indiabulls Trust

2H – Mar17

$0.255

0.000

0.250%

$1.273

India – Office

HPH Trust USD

1H – Jun17

$0.455

9.500

7.368%

HK$4.53

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

RHT HealthTrust

2H – Jun17

$0.860

2.370

5.512%

$0.845

India – Healthcare (18)

Croesus Rtrust

2H – Jun17

$1.155

4.060

6.978%

Y79.63

Japan – Retail (11)

Asian Pay TV Tr

Q2 – Jun17

$0.570

1.625

11.404%

$0.850

Taiwan PayTV

Accordia Golf Tr

Q1 – Jun17

$0.710

2.000

8.761%

$0.890

Japan Golf Courses – 89

Dasin Retail Tr

1H – Jun17

$0.850

3.010

7.082%

$1.490

China – Retail (4)

NetLink NBN Tr

FY18 – IPO

$0.825

2.930

5.335%

$0.864

Fibre Network Infrastructure

NOTES :

  • a-iTrust : DPU Not Paid as Semi-Annual Payout Policy
  • Accordia : Above Yield Computed Using DPU = 6.22ct = 3.59ct (2H17 – Mar17) + 0.73ct (Q217 – Sep16) + 2ct (Q118 – Jun17) ; DPU Not Paid as Semi-Annual Payout Policy
  • CroesusRT : Exchange Rate Y100 = S$1.2308 ; Annualised DPU = 8.06ct ; Hedged Rate – FY17 @ Y83.57 ; FY18 @ Y76.39 ; FY19 @ Y72.72
  • HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7857 : 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
August 31, 2017 Yield Comments Off on August 2017