General S-REITs Discussion Thread

[chewjekhui]

U know me well.

I will add in MINT too.

Mapletree Industrial? Entering more CMT? DW?

 

[ccostagmont]

tiagong sph.reit target price @ 0.670.

 

[novice8]

Should have a small negative effect. REIT prices have weaken quite a bit over the past few months.....

I am looking to add more if the prices become too attractive

hi dw, what do you think of Ascendasreit? does the current price looks good?

 

[blackvice]

contemplating to divest feht... the performance was rather disappointing...and further news of tapering and " maybe interest spike" would certainly hit reits hard ( even without concrete news , it has aready been quite a hit ) ....would certainly re-enter if prices of reits looks more attractive .

Any views ?

 

[Dividends Warrior]

you forgot the big white giant, IMM

Yup. IMM too!

 

[Dividends Warrior]

Wow 80% thats really quite a large portion. Glad you are sharing ur knowledge with us. Any Fundamentals you look out for when doing your picks? P/E ratio, etc...

Generally, I look at these data for REITs.

- Occupancy rates
- Gearing ratio
- Debt maturity profile
- Cost of borrowings
- Track record of manager (AEIs, yield-accretive acquisitions, positive rental reversions, prudent capital management etc etc)
- Strength of sponsor
- Yield

 

[Dividends Warrior]

Mapletree Industrial? Entering more CMT? DW?

Yup. Mapletree Industrial.

The price of CMT is not attractive now. So....no.

 

[Dividends Warrior]

hi dw, what do you think of Ascendasreit? does the current price looks good?

The current price looks reasonable. Quite well-run.

 

[anfielder]

contemplating to divest feht... the performance was rather disappointing...and further news of tapering and " maybe interest spike" would certainly hit reits hard ( even without concrete news , it has aready been quite a hit ) ....would certainly re-enter if prices of reits looks more attractive .

Any views ?

IMO since everybody already knows tapering is coming, they would have already priced it in so the effect of any concrete news will be small compared to what happened earlier.

 

[Darkzi0n]

IMO since everybody already knows tapering is coming, they would have already priced it in so the effect of any concrete news will be small compared to what happened earlier.

i dont think every thing is priced in yet, there is still so much uncertainty of when the tapering will actually start... could it be as early as this sep? or in 2014 or even 2015? and wat is the next move after the tapering started? by how much the interest rate is goin to raise?

 

[blackvice]

i dont think every thing is priced in yet, there is still so much uncertainty of when the tapering will actually start... could it be as early as this sep? or in 2014 or even 2015? and wat is the next move after the tapering started? by how much the interest rate is goin to raise?

yes that's the concern...

 

[marandaz]

contemplating to divest feht... the performance was rather disappointing...and further news of tapering and " maybe interest spike" would certainly hit reits hard ( even without concrete news , it has aready been quite a hit ) ....would certainly re-enter if prices of reits looks more attractive .

Any views ?

Divested a few days ago... with a bit of loss after accounting for dividend...

My reason is less of about tapering but more of outlook...

1) Ram up supply of hotel rooms for the next 3 years provides intense competition.

2) I do not think that the recent acquisition of the Rendezvous Hotel result in yield accretion. The Circular said that the acquisition result in less than 2% yield accretion IF the placement price is $1.10? with 1,732,688 units issues. Recently it is issued at $0.935 with 1,759,346,490 units issued. Hence, a 20 mil units difference. My simple calculation (DPS/ Units) based on the projected income is a near unchanged DPS of 2.09 (cents).

3) The recent result is below forecast. Lots of Headwinds. Enough said.

4) A 6.2% yield isn't hardly enticing. CDL Htrust is already trading at 6.7% yield. Both have near similar gearing profile and sponsor strength. One can argue about the quality and the mix of the assets though.

Above represent my view. Not a Buy or Sell call.

 

[nokiaE6lover]

Hi dw

Have you divested HPH trust ?
Don't look good at moment

 

[Dividends Warrior]

Hi dw

Have you divested HPH trust ?
Don't look good at moment

I still have it.

 

[nokiaE6lover]

Ok.. At least some comfort after hearing that
Thanks for reply

 

[mjboon]

Yup. Mapletree Industrial.

The price of CMT is not attractive now. So....no.

Hi DW,

At what price CMT will be fair, and attractive in your humble opinion?

 

[Lasogette]

Generally, I look at these data for REITs.

- Occupancy rates
- Gearing ratio
- Debt maturity profile
- Cost of borrowings
- Track record of manager (AEIs, yield-accretive acquisitions, positive rental reversions, prudent capital management etc etc)
- Strength of sponsor
- Yield

You should come out with a guide on how you do ur picks and some case studies. Maybe can publish book liao also

 

[Dividends Warrior]

Hi DW,

At what price CMT will be fair, and attractive in your humble opinion?

Below $2.

Around $1.90 will be nice!

 

[ChilliCrab_]

Below $2.

Around $1.90 will be nice!

nice!! that was the price i queued last month during the correction. but the lowest it went was $1.92. so i didnt get any.

 

[simon_84]

nice!! that was the price i queued last month during the correction. but the lowest it went was $1.92. so i didnt get any.

i view 1.95 as support, is 1.92 intraday price ?