[Official] REITs CD tracking thread

[avalonie]

No. Not yet.

 

[FreewayJet]

16 Jul 13 : A-REIT
17 Jul 13 (AM) : CCT
18 Jul 13 : MLT
19 Jul 13 (AM) : CMT
19 Jul 13 : Suntec
22 Jul 13 : a-iTrust
23 Jul 13 (AM) : ART
23 Jul 13 : StarHill
24 Jul 13 (AM) : Cambridge
24 Jul 13 : FCOT
25 Jul 13 : MIT
26 Jul 13 : CDL H-Trust
30 Jul 13 : MGCT

will mct or aims have dividend this month?

 

[Dividends Warrior]

Previously DW said it got lease renewal issue is that settle?

Look at page 21 of the presentation slides.

http://infopub.sgx.com/FileOpen/Sabana_2QFY13_Results_Presentation.ashx?App=Announcement&FileID=248114

At least now, I know they are working on it.

 

[Fibonacci236]

will mct or aims have dividend this month?

yes will have . but reduced amount , cos they have given out advance distribution


results annoucment

MCT : 24th July
AIMS : 25th July (AM)

 

[spore]

Previously DW said it got lease renewal issue is that settle?

Lease don't get renew then they will convert to multi-tenant lease, may earn more this way since master lease typically means rental PSF is negotiated lower. So no worries as all. AIMS also converted some of their properties to multi-tenant lease and did AES to increase rentable area. Hence, I'm sure Sabana can follow likewise as this is no longer innovation.

 

[matrix05]

Lease don't get renew then they will convert to multi-tenant lease, may earn more this way since master lease typically means rental PSF is negotiated lower. So no worries as all. AIMS also converted some of their properties to multi-tenant lease and did AES to increase rentable area. Hence, I'm sure Sabana can follow likewise as this is no longer innovation.

This is true.But more headache & expensive to manage so many tenants. But like you say, less PSF = higher rent. And looks like industry pty is still very strong; 100% rented out.

 

[FreewayJet]

yes will have . but reduced amount , cos they have given out advance distribution


results annoucment

MCT : 24th July
AIMS : 25th July (AM)

Thanks!

Reduced amount for both? I know aims got advanced distribution, but mct too?

 

[spore]

This is true.But more headache & expensive to manage so many tenants. But like you say, less PSF = higher rent. And looks like industry pty is still very strong; 100% rented out.

More headache to manage? That's what we pay the REIT management for right? Otherwise, why do we buy REIT and not invest directly in a real property and lease it out ourselves? Since they are paid for doing the management, we should let them do their job and bring us more yield.

With a proactive government in Singapore, I'm not too worry about oversupply since the government would have reacted by cutting sales of land, etc. Despite of speculation that Iskandar industrial properties booming will cause many industries to leave Singapore, I believe it's those industries that cannot make it here that leave. Those who are stronger will stay and pay higher rent while focusing on making more money on their produce.

 

[matrix05]

More headache to manage? That's what we pay the REIT management for right? Otherwise, why do we buy REIT and not invest directly in a real property and lease it out ourselves? Since they are paid for doing the management, we should let them do their job and bring us more yield.

.

U are right. I just wonder why landlords prefer anchor tenants? They shd just chop their place into mickey mouse units to get max yield for shareholders.

 

[onizuka_eiji]

U are right. I just wonder why landlords prefer anchor tenants? They shd just chop their place into mickey mouse units to get max yield for shareholders.

stability and investor confidence.. if a REIT announce every quarter they have 8-9 leases to renew, I think confidence in them would reduce drastically..

also some companies just need the large footprint for their operations.. so need to rent big and be tenant anchor..

 

[nauhchop]

U are right. I just wonder why landlords prefer anchor tenants? They shd just chop their place into mickey mouse units to get max yield for shareholders.

huh mickey mouse? Without anchor tenants, you wouldn't want to visit that shopping mall.

Anchor tenants occupy a big retail space and have that branding reputation. If there are 2 shopping malls side by side, 1 has anchor tenants while the other has small sole proprietary shops, the one with anchor tenants will have more traffic and sales.

 

[tiny]

U are right. I just wonder why landlords prefer anchor tenants? They shd just chop their place into mickey mouse units to get max yield for shareholders.

Anchor tenants mean stable rental income for guaranteed long duration, no need keep finding ah bengs to run small shop units as chopped by your suggestion.

 

[tangoraven]

Anchor tenants also leads to less volatility in cash flows as they commit for much longer lease periods.

If the REIT has a more steady cashflow, they can take on longer term loans and are in a better position to negotiate better interest rates since the bank or FI is taking on less risk to loan money to the REIT.

However, I do think anchor tenants however are not as important for the larger REITs. One anchor tenant can maybe account for like just half to one percent of their NPI so not very significant.

Larger REITS, like say CMT, AREIT or CCT, can have also have a steady cashflow due to diversification across many properties.

 

[spore]

We are talking about Industrial REIT (specifically Sabana) in this context. As such, it's like a anchor tenant that takes up the whole property VS splitting it up for many smaller industries (like AMK Autopoint where many "mickey mouse" car workshop reside).

There are always pros and cons on anchor tenants VS individuals and is always debatable on which is better but why bother so much at our level as REIT investor? Just let the management decide what is better for the REIT. It's the dividend yield that I'm more concern as a REIT investor so whatever REIT that gives me good dividend yield increasingly over time is a good REIT to me. And eventually if the REIT is not manage well, yield will dip and that's when I'll switch to better yielding ones.

The more important thing is ensuring that the REIT is really profitable, giving out dividend mainly from earnings and not giving dividends based on capital reduction / existing cash flow. Else in no time, that REIT will start having cash flow issue and then ask for more funds to "strengthen" balance sheet via private placement or rights, which eventually dilute the DPU and hence yield in the future. I'm sure some of us are victims of such REITs before if you have been playing REITs or even business trust for years.

 

[princessreiko]

http://infopub.sgx.com/FileOpen/CMT2Q2013PressRelease.ashx?App=Announcement&FileID=248368

CMT’s 2Q 2013 distributable income up 10.2% year-on-year
2Q 2013 Net Property Income up 12.2% year-on-year due to contributions from
asset enhancements of JCube, Bugis+ and The Atrium@Orchard

Singapore, 19 July 2013 – CapitaMall Trust Management Limited (CMTML), the manager of
CapitaMall Trust (CMT), is pleased to announce that CMT’s distributable income of S$87.7 million for
the period 1 April 2013 to 30 June 2013 (2Q 2013) is 10.2% higher than the S$79.6 million for the same
period in 2012 (2Q 2012).
The 2Q 2013 distribution per unit (DPU) of 2.53 cents represents a 6.3% increase over the 2.38 cents
for 2Q 2012. This brings CMT’s DPU for the period from 1 January 2013 to 30 June 2013 (1H 2013) to
4.99 cents, exceeding the DPU of 4.68 cents for the corresponding period in 2012 (1H 2012) by 6.6%.
Unitholders can expect to receive their 2Q 2013 DPU on 29 August 2013. The annualised distribution
yield is 5.08%, based on CMT’s closing price of S$2.00 per unit on 18 July 2013. The Books Closure
Date is on 29 July 2013.
Mr Danny Teoh, Chairman of CMTML, said, “For the first half of 2013, our tenants’ sales have
continued to grow despite the uncertainty in the economic outlook and challenges. Our tenants’ sales
have increased 3.3% over the first half of last year, and shopper traffic increased 4.8% over the same
period year-on-year. We are well positioned to deliver steady operational performance as our malls are
strategically located, catering predominantly to necessity shopping, and supported by a huge
population catchment.”
Mr Wilson Tan, CEO of CMTML, said, “We are pleased that CMT has delivered good performance in
the second quarter of 2013. The completed asset enhancement works at JCube, Bugis+ and The
Atrium@Orchard last year, together with the rental rates achieved from the portfolio’s new and renewed
leases, were the major drivers to the revenue growth. We will continue to focus on active lease
management, successful execution of on-going asset enhancement initiatives and active capital
management. We will also seek new opportunities to create good value for unitholders.”

 

[mjboon]

Got FCT today @ $1.87. Can still get the dividend?

 

[Tony Sim]

Got FCT today @ $1.87. Can still get the dividend?

Of course, results out only next Tue.

 

[Dividends Warrior]

Suntec results is out.

http://infopub.sgx.com/FileOpen/Suntec-2Q2013-Presentation.ashx?App=Announcement&FileID=248407

 

[OriginalF00k]

Suntec results is out.

http://infopub.sgx.com/FileOpen/Suntec-2Q2013-Presentation.ashx?App=Announcement&FileID=248407

as expected result..

 

[mjboon]

as expected result..

As expected, revenue and income down due to AEI works. Still price dropped next Monday? Waiting to buy