IREIT Global *Official* (SGX: UD1U)

[TehSi99]

Went up to 0.415 early today……. Even at this price, based call last FY dpu, yield wld be a tempt8ng 8-9%……. Meanwhile, a horse behind cannon buy call from RHB afterasking people to sell just three months ago …..

I stop reading reports.

I would not say they are wrong or misleading. Many times, they shouted buy after price moved. But that is normally when price are about to correct or move down. So when retail investors thinking to huat, they lose money. But most of the times, I do not trust these reports.

So good showing you when the money is? If all read the report and make money, who is losing?

 

[DevilPlate]

I stop reading reports.

I would not say they are wrong or misleading. Many times, they shouted buy after price moved. But that is normally when price are about to correct or move down. So when retail investors thinking to huat, they lose money. But most of the times, I do not trust these reports.

So good showing you when the money is? If all read the report and make money, who is losing?

Can pick up some data points in the report and simply ignore their BS target price hahaha

 

[Shion]

IREIT Global's portfolio valuation down 5.4% y-o-y to EUR899 mil​

https://www.theedgesingapore.com/ne...-portfolio-valuation-down-54-y-o-y-eur899-mil

Europe-focused IREIT Global's portfolio valuation as at Dec 31, 2023, stood at EUR€899.0 million ($1.31 billion), a 5.4% y-o-y decrease from its valuation as at Dec 31, 2022.

The independent valuation from newly appointed valuer Savills Advisory Services Limited was a decrease of 2.6% from its portfolio valuation of €950.5 million as at end-June last year.

According to the manager, since the Covid-19 outbreak and rise in interest rates, the REIT’s office portfolio valuation has decreased by 5.6% supported by active leasing and stable leases, while its retail portfolio valuation has increased by 1.4%.

“The recent acquisition of the 17 retail properties in France in September 2023 has also highlighted the importance of the manager’s strategy implemented since 2019 to continue diversifying IREIT’s portfolio from a geographical and asset class standpoint, and has cushioned the decrease in the German portfolio valuation,” says Louis d’Estienne d’Orves, CEO of the manager.

On a like-for-like basis without the 17 retail properties, IREIT’s portfolio would have decreased by 11.1% half-on-half and 13.6% year-on-year, mainly driven by Germany which was one of the weakest performing major economies in 2023.

Overall, compared to the total initial purchase consideration of EUR775.6 million, IREIT’s portfolio valuation as at 31 December 2023 was still up by EUR123.4 million or 15.9%.

The manager now anticipates IREIT’s aggregate leverage to be approximately 37.4% as at Dec 31, 2023 (excluding Il∙lumina which is held for sale) and net asset value per unit to be approximately €0.40.

Units in IREIT closed 0.5 cents lower or 1.24% down at 40 cents on Jan 22.

 

[jtsh55]

ANNOUNCEMENT

NOTICE OF RECORD DATE AND DISTRIBUTION PAYMENT DATE

NOTICE IS HEREBY GIVEN that the Transfer Books and Register of Unitholders of IREIT Global (“IREIT”) will be closed at 5.00 p.m. on Friday, 1 March 2024 (the “Record Date”) for the purpose of determining the entitlements of IREIT unitholders (“Unitholders”) to IREIT’s distribution of 0.94 Euro cents per unit for the period from 1 July 2023 to 31 December 2023 (the “Distribution”), comprising:

(i) Tax exempt income distribution of 0.90 Euro cents per unit; and

(ii) Capital distribution of 0.04 Euro cents per unit.

Unitholders whose securities accounts with The Central Depository (Pte) Limited are credited with units of IREIT as at the Record Date will be entitled to the Distribution, which will be paid on 21 March 2024.

 

[Shion]

IREIT Global’s portfolio occupancy at 88.7% at end March​

https://www.theedgesingapore.com/capital/results/ireit-globals-portfolio-occupancy-887-end-march

IREIT Global has reported a portfolio occupancy of 88.7% as at end March, down from the 91.5% reported in the same period a year ago. This is higher than the 88.5% reported as at end Dec, 2024.

This figure excludes its Berlin Campus which is planned for repositioning in 2025.

The REIT's weighted average lease expiry (WALE) as at end March stood at 5.7 years, based on gross rental income for the reporting period. This is lower than the 5.9 years reported in the previous quarter.

IREIT's aggregate leverage for the reporting period came in at 37.7%, which is lower than S-REITs office subsector average of 44.4%, and overall S-REITS sector average of 39.6%.

The REIT has gross borrowings outstanding of EUR354.1 million as at March 31, 2025. Interest coverage ratio came in at 6.7 times.

Its weighted average interest rate came in at 1.9% as at end March.

The repositioning of its Berlin Campus into a multi-let mixed-used asset has received approval from unitholders at the EGM at the end April. Construction works will begin in 2Q2025, and the manager of the REIT has secured long term leases with two hospitality operators taking up about 24% of the lettable area.

The campus is expected to be completed in 4Q2027, and total projected capital expenditure is between EUR165 million to EUR180 million.

During the repositioning period, the absence of income from Berlin Campus is expected to have a significant impact on IREIT's distributions to unitholders, says IREIT.

Units in IREIT Globalclosed flat at 23 cents on Apr 29.