ESR-Logos REIT *Official* (SGX:J91U)

blackvice

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yup it was 2,179 in 3Q2012 compared to 16,766 in 3Q2011 for their net cashflow . Any views on this stock ?
 

Inexpressible

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yup it was 2,179 in 3Q2012 compared to 16,766 in 3Q2011 for their net cashflow . Any views on this stock ?

But its in negative right ? On the balance sheet it shows (2179). On the other side its good that they manage to reduce their negative cashflow to such a large amt.

Can buy and hold few lots for yield play. Don't think it will appreciate in near future yet.
 

SoulDealer

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From what I see, it appreciates every 3 months at least. It has been rather constant. The last time was around 0.645. Compare it to now. :) You'll see a little increase.

Vested in this.
 

Inexpressible

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From what I see, it appreciates every 3 months at least. It has been rather constant. The last time was around 0.645. Compare it to now. :) You'll see a little increase.

Vested in this.

Cool. Initially I was interested in this counter but didn't pay real attention for long because after knowing about the negative cashflow. I disregard it in flavour of Sabana.

With all the reits been unattractive due to their premium trading price now, this might be a good counter to pay attention to.
 

SpinFire

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There was negative cash flow in Q2 and Q3 of 2012, and they were due to investing activities. I've not looked into the details of the investing activities, but I suppose they were due to acquisitions of new properties.

Cambridge Industrial Trust buys 2 properties for $56.3m (Note the last statement in the article about the acquisitions being paid in cash)

Cambridge Industrial Trust jointly acquires Tuas warehouse for $15m

Cambridge REIT's net cash flow has been positive in the past years except during 2008 which was the financial crisis. Negative cash flow is not always a negative sign, especially in this case where cash was used to acquire new properties which may mean increase in DPU in the future.
 
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Inexpressible

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There was negative cash flow in Q2 and Q3 of 2012, and they were due to investing activities. I've not looked into the details of the investing activities, but I suppose they were due to acquisitions of new properties.

Cambridge Industrial Trust buys 2 properties for $56.3m (Note the last statement in the article about the acquisitions being paid in cash)

Cambridge Industrial Trust jointly acquires Tuas warehouse for $15m

Cambridge REIT's net cash flow has been positive in the past years except during 2008 which was the financial crisis. Negative cash flow is not always a negative sign, especially in this case where cash was used to acquire new properties which may mean increase in DPU in the future.

Good information ! Was still comparing this with Sabana, still deciding to invest in which in 2013. Both have good yields so far, but don't wanna invest in too many industrial reits in 2013
 

SpinFire

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From what I see, it appreciates every 3 months at least. It has been rather constant. The last time was around 0.645. Compare it to now. :) You'll see a little increase.

Vested in this.

0.685 liao. Waiting for next CD :D
 

SoulDealer

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0.685 liao. Waiting for next CD :D

This time I feel that the CD might be better than last quarter. :) They should have more cash coming in this month.. A pity i sold mine to raise some cash earlier. If possible I wont advise on getting cash dividends, should reinvest in the shares if you dont have any plans to spend the dividends. :) Compare last quarter share price and now. You'll be able to see a brighter picture. The profits is far greater than just cash dividends.
 

doody_

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Problem with the DRP is that you get stuck with odd lots... might be hard to get rid of them next time. Plus I use SCB, not sure if they can sell odd lots...
 

anfielder

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This time I feel that the CD might be better than last quarter. :) They should have more cash coming in this month.. A pity i sold mine to raise some cash earlier. If possible I wont advise on getting cash dividends, should reinvest in the shares if you dont have any plans to spend the dividends. :) Compare last quarter share price and now. You'll be able to see a brighter picture. The profits is far greater than just cash dividends.

I agree... though for me the incentive is to slowly accumulate more units without having to cough up cash. Potentially higher dividend income in the future. :)

Problem with the DRP is that you get stuck with odd lots... might be hard to get rid of them next time. Plus I use SCB, not sure if they can sell odd lots...

If they ever have a rights issue, you can use excess rights to round up the lots. Though of course you can never predict if there's going to be a rights issue.
 

SpinFire

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Problem with the DRP is that you get stuck with odd lots... might be hard to get rid of them next time. Plus I use SCB, not sure if they can sell odd lots...

Yeah, DRP will usually result in odd lots. Unless your holdings for the REIT is large enough to get >1000 shares via DRP, then you can request 1000 shares via DRP, the rest get cash.
 

Inexpressible

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Cambridge proposed acquisition of 15 Jurong Port Road for S$43.0 million. I was thinking if this acquisition would again led to a fall in cashflow, or it had already been factored in base on its previous financial results.

No doubt its DPU is on increasing trend. Vested a few lots. This counter is slowly growing.
 

Hoo8899

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70c coming :s12:

Based on the latest DPU, am getting more than 10% dividend per year :D
 
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doody_

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Excited about the potential in this REIT, especially with the new acquisitions.
 

SpinFire

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I'm definitely surprised by the good performance of Cambridge in 2012, DPU increased quite significantly - up 9.9% y-o-y for 4Q2012, and up 12.9% y-o-y for FY2012. Positive news is that DPU is poised to increase further this year with contributions from more properties.

The point to note is that leases contributing to ~40% of rental income are expiring in 2013 and 2014. It can be good/bad. It'll be positive if management can renew the leases with higher rents (which could be possible given the current improving economic sentiment), which will mean higher income, or it can go the other way as well.
 

SoulDealer

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I'm definitely surprised by the good performance of Cambridge in 2012, DPU increased quite significantly - up 9.9% y-o-y for 4Q2012, and up 12.9% y-o-y for FY2012. Positive news is that DPU is poised to increase further this year with contributions from more properties.

The point to note is that leases contributing to ~40% of rental income are expiring in 2013 and 2014. It can be good/bad. It'll be positive if management can renew the leases with higher rents (which could be possible given the current improving economic sentiment), which will mean higher income, or it can go the other way as well.

If im not wrong, the contracts are all 2+1 contract. Option to renew one more year with current pricing they are paying. My current company I'm working in signed a contract with them before. Not sure if its the same one.

If its the same, we could expect around the same DPU or slight difference only for the rest of this year.

my 2 cents.
 

SpinFire

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If im not wrong, the contracts are all 2+1 contract. Option to renew one more year with current pricing they are paying. My current company I'm working in signed a contract with them before. Not sure if its the same one.

If its the same, we could expect around the same DPU or slight difference only for the rest of this year.

my 2 cents.

Oh okay, thanks for shedding light on it, I'm not familiar with contracts for industrial rentals. We can look forward to higher DPU after the remaining acquisitions start to contribute to rental income. :D
 
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