Sometime, easy to sell but not easy to buy back the price or lower price we brought.betting price will go down again so chose to sell and buy back later
gona cha cha with the reits...
General S-REITs Discussion Thread
- Thread starter Dividends Warrior
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audiovideo
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Money for business related to green projects, solar, wind, hydro, etc?
yes so Long it is ESG related, leading to sustainabiity
it is not just env issues like u hve quote
it include the social aspect and the governance too (not just the "E" but the "S" & "G")
definitions listed here:
https://www.sgx.com/fixed-income/green-social-sustainability-fixed-income-securitiesor https://first.sgx.com/
the parliament is discussing abt Green and budget NOW too
nvm abt the naysayers, aplenty!!!!!!!!!!!!!!
i truly cannot imagine a corporate, a world without a sustainability dept
neither could i imagine an MAS or a fi insitution has no green-focus (ignore all banks or exchange rate ie not even Green-focused)
if u know of 1 tell me pls
u can clearly see it is UOB
Which bank is worth your investmt? the ans is obvious too
https://forums.hardwarezone.com.sg/...nd-uob-part-2.5892846/page-237#post-140166859
but pls stop discussing green on this thread (later moderator will......)
u can do it here - https://forums.hardwarezone.com.sg/...robo-stocks-or.6476646/page-11#post-140173730
unless u r asking abt where /wat is Green reits? ? u can discuss here too: https://forums.hardwarezone.com.sg/...etf-sgx-grn-gre.6632094/page-9#post-140002614
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What Is a Green Bond?
A green bond is a type of fixed-income instrument that is specifically earmarked to raise money for climate and environmental projects. These bonds are typically asset-linked and backed by the issuing entity's balance sheet, so they usually carry the same credit rating as their issuers’ other debt obligations.
Green project asset
Check their gearing ratio, WALE, debts maturity, interest rate more on fixed or float etc...
(KORE) Keppel Pacific Oaks US REIT earning result
FY2021 vs FY2020
Gross Revenue up 1.2%
Net Property Income down 0.4%
DPU up 1.8%
2H 2021 vs 2H 2020
Gross Revenue up 5.5%
Net Property Income up 2.4%
DPU up 1.6%
Dividend 2.54 US cents
Gearing Ratio 37.2%
Fixed Rate 83.4%
Debts not well manage in my opinion, FY2022 and FY2023 are 36.1% of overall debts. That’s is more than one third of the portfolio, yet management assuming it’s is 21.9% if the loan due in Nov 2022 has been refinance in 31 Dec 2021. This earning result is 2H 2021 and FY2021, meaning 31 Dec 2021 is already in the report, and the report didn’t reflect this, so it’s like telling you, be cool, every thing is fine, don’t worry.
Committed Occupancy is 91.9%. Just now I did a calculation, it’s only 90.95% lol.
Another thing to take note, Keppel Capital (sponsor) hold a deemed 6.9% stake in KORE.
Overall, very decent result.
buyers remorse - ManuLife!
https://www.theedgesingapore.com/capital/reits/can-manulife-us-reit-avoid-buyers-remorse
v hi leverage or Fixed loans , or floating interest rate will be badly affected in hi interest rate env
S-reits still gd, i think all of u knw the ans! I dont really retail/office (they did mention that the Office in USA is entirely diff from sg's type of typical office) / hospitality reits or Medical/healthcare
Except for 1 gem retailing @ China
https://forums.hardwarezone.com.sg/threads/sasseur-reit-official-sgx-crpu.5774076/page-5
https://www.theedgesingapore.com/capital/reits/can-manulife-us-reit-avoid-buyers-remorse
v hi leverage or Fixed loans , or floating interest rate will be badly affected in hi interest rate env
S-reits still gd, i think all of u knw the ans! I dont really retail/office (they did mention that the Office in USA is entirely diff from sg's type of typical office) / hospitality reits or Medical/healthcare
Except for 1 gem retailing @ China
https://forums.hardwarezone.com.sg/threads/sasseur-reit-official-sgx-crpu.5774076/page-5
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Sorry bro , cant see the article for manulife reit. Can share the key points in the article
in short they discussed about their last yr end acquisition (by pte placement and loans)
is it worth it , or is it regretable? esp now in midst of Highs, eg inflation and hi interest rates
Spending so much on the buying spree of those properties (1 in arizona etc) ...hence now leading to poor occupancy & falling DPU, investors may not have the patience .....
u vested in this?!!!!!!!!!!!
is it worth it , or is it regretable? esp now in midst of Highs, eg inflation and hi interest rates
Spending so much on the buying spree of those properties (1 in arizona etc) ...hence now leading to poor occupancy & falling DPU, investors may not have the patience .....
u vested in this?!!!!!!!!!!!
Ohhh i see. Thanks for sharing bro.
No I haven't buy this
But if they lock in better int before the hike , isnt that good ? Of course the low occupancy is a problem
Manulife US REIT (MUST) earning resultSorry bro , cant see the article for manulife reit. Can share the key points in the article
FY2021 vs FY2020
Gross Revenue down 4.7%
Net Property Income down 5.4%
DPU (in cents) down 5.5%
2H 2021 vs 2H 2020
Gross Revenue down 1.4%
Net Property Income down 0.3%
DPU (in cents) up 1.5%
2H 2021 divided 2.63 US cents (2.31 US cents already distributed in 7th Dec 2021 [Ex date], payment date is 17th Feb 2022) (Currently dividend is 0.32 US cents)
Gearing Ratio up 1.8% to 42.8%
Fixed Rate down 9.8% to 86.5% (96.3% in FY2020)
Debts not well manage in my opinion, FY2022 and FY2023 are 32% of overall debts. That’s about one third of the portfolio. Yet fixed rate is reduced!
Things to note:
Weighted average interest rate is lower, from 3.18% to 2.82%.
Portfolio Unencumbered up 28.4% to 70.4%.
Unencumbered asset is much easier to sell!
US office strong recovery in 4Q 2021
Leasing volume up 13.8% qoq
WALE up 0.1 yr qoq
Tls and free rent down 11.4% qoq
Base rent up 2.2% qoq
Net effective rent up 6.9% qoq
Subleasing 0% (Is this good or bad? Kindly leave in the comments, thanks)
Portfolio Lease Expiry in FY2022 and FY 2023 add up to 21.2% (GRI). Still good.
Overall, ok result. Gearing ratio is high and debts maturity is high too.
Just for reference (Dividend for Full Year)
FY 2017 – 5.77 US cents
FY 2018 – 5.57 US cents
FY 2019 – 5.96 US cents,
FY 2020 – 5.64 US cents,
FY 2021 – 5.33 US cents (Below average 5.654 US cents)
Thanks bro for sharing
what is kbs?? Prime US REIT? oh dear all of u .......Betw KBS and manu .. which is better ?
I see both have properties quite scattered .
i hve CMOU Kepac for sure
if OXmu has to comp w CMOU , still kepac wins!
https://sg.finance.yahoo.com/quote/...iOiJ3ZWVrIiwicGVyaW9kIjoxfSwicGFkZGluZyI6MH19
https://www.theedgesingapore.com/ca...-concern-s-reits-some-mitigating-factors-ocbc
KBS is CMOU . That is how Tiger showed it.
Thanks for sharing your thoughts. I will target CMOU , still patiently queuing.
Shion
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Proxy advisor recommends a vote for merger between ALOG and ESR-REIT
https://www.theedgesingapore.com/ca...ommends-vote-merger-between-alog-and-esr-reit
On Mar 4, Institutional Shareholder Services is recommending that unitholders of ARA LOGOS Logistics Trust to vote in favour of resolutions put forward in the trust scheme. These resolutions are to vote for a change in the trust deed, and secondly to vote for the scheme, that is to merge with ESR-REIT.
Karen Lee, CEO of ALOG’s manager says that the proposed transaction is not a sale process of ALOG or its assets. “ALOG Unitholders are not selling out their units, but instead rolling over into an enlarged platform with a strong sponsor, while crystalising part of their investment returns in cash. The enlarged platform with access to the sponsor’s new economy pipeline will create unparalleled and long term sustainable value for our unitholders,” she has said on a number of occasions.
Lee adds that since the proposed merger was announced in October last year and no other offer has emerged. ALOG’s manager is required to consider any offer that comes along after the ESR-REIT offer. The ESR-REIT offer is a result of the merger between ESR Cayman and ARA Asset Management. ARA had a controlling stake in LOGOS, ALOG’s sponsor. Hence ESR inherited LOGOS and now indirectly owns ALOG’s manager and around an 11% stake in ALOG.
To resolve the conflict of interest since both REITs have overlapping mandates, ESR-REIT’s manager made an offer for ALOG. ALOG owns only logistics assets whereas ESR-REIT has a wider remit, and holds other new economy assets including life science, data centres, cold storage and high-tech buildings as well as logistics properties.
ESR Cayman is providing the merged entity, ESR LOGOS REIT (E-LOG) with an immediate $2 billion pipeline of mainly logistics assets, and the financial support to acquire the assets.
“Overall, the proposed merger remains to be concerning given that the deal will be made with a related party without considering alternative transactions and that the transaction does not represent an attractive premium when considering the improvement in ALOG's valuation over the past year,” ISS says. This is a strange statement given that the proposed merger and terms have been out in the public domain for all these months.
As an example, Singapore Press Holdings got a better offer in all cash from Cuscaden Peak, a consortium comprising Hotel Properties, Mapletree and the parent of CapitaLand Investment, which topped the offer from Keppel Corp. In 2021, SPH had a strategic review where it shopped for buyers. ALOG did not have a strategic review. The merger is because of developments at the sponsors’ level for which the best path is a merger between its two REITs with overlapping mandates.
Hence ISS adds: “Nonetheless, given that the revised scheme consideration is at least closely in line with ALOG's valuation, and taking into consideration the potential strategic benefits of having an enlarged REIT for ALOG unitholders, a cautionary vote FOR this resolution is warranted.”
On Jan 22, following a recommendation to ALOG unitholders to vote against the trust scheme because the pricing was not fair, ESR-REIT’s manager revised the pricing. The cash portfion has been revised to $0.097 in cash from $0.095 per ALOG Unit. For the units portion, the price has been revised to 1.7729 new ESR-REIT Units from 1.6765 new ESR-REIT Units for each ALOG Unit, issued at $0.4924.
The scheme meeting will be held on March 21.
The largest institutional unitholders are The Vanguard Group, BlackRock Fund Advisors, Dimensional Fund Advisors, Norges Bank Investment Management, La Salle Investment Management Securities and UB Asset Management.
This proposed merger kill a lot of trees. I receive so many documents already then say cancel then revive again ding dong so long. ARA holders you kena makan just give in lah. Business is always see who eat ppl and who kena eaten. Based on history kena eaten seldom win or maybe this time it can avoid? For info I ESR holder and I pity so many trees killed to print so many paper documents.
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