[Official] REITs CD tracking thread

Paul Lee

Paul Lee

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Mapletree Log 3Q2013 DPU details:

MLT-DPU-1Q2013_zps4078bccc.jpg


The Distributions Reinvestment Scheme will apply for this quarter's distributions.
 
addict951

addict951

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Sabrina jin gd **** :s12:


Both based on 1.15
Maple Log's yield is 5.98%
Sabana's yield is exactly 8%
 
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lzydata

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marandaz said:
Sabana's 2.41 DPU is one off? Due to fair value gain?
Click to expand...

See page 4. Net income for Q4 is $13,199k. Net change in fair value of financial derivatives ($762k) and Net change in fair value of investment properties ($25,316k) are added to get total return of $39,277k. But when calculating the distribution, these items are deducted from total return. Hence gain in fair value of properties is not part of the distribution. It cannot be since it is not cash, as MikeDirnt78 said.

marandaz said:
That is why I am wondering... net income = 13++Mil, but Dis. income = 15++Mil? Any experts?
Click to expand...

I think the difference is not much and is mainly explained by them adding back manager's fees paid/payable in units. Manager's fee is an expense and so is not part of net income, but it is part of the distribution so it has to be added back to net income.

For any deeper reasons you should ask an accountant... :D
 
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marandaz

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lzydata said:
See page 4. Net income for Q4 is $13,199k. Net change in fair value of financial derivatives ($762k) and Net change in fair value of investment properties ($25,316k) are added to get total return of $39,277k. But when calculating the distribution, these items are deducted from total return. Hence gain in fair value of properties is not part of the distribution. It cannot be since it is not cash, as MikeDirnt78 said.



I think the difference is not much and is mainly explained by them adding back manager's fees paid/payable in units. Manager's fee is an expense and so is not part of net income, but it is part of the distribution so it has to be added back to net income.

For any deeper reasons you should ask an accountant... :D
Click to expand...

Hmmm... I think is due to this rather than Manager's fee: Net effect of non-tax (chargeable) /deductible items

Any experts/accountant?
 
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lzydata

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marandaz said:
Hmmm... I think is due to this rather than Manager's fee: Net effect of non-tax (chargeable) /deductible items

Any experts/accountant?
Click to expand...

That is just the subtotal of the items I am talking about. Look at that list of items in the Distribution Statement and match them with the items in the Statement of Total Return.
 
SpinFire

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xiaoyuji said:
Cambridge declare 1.229cent . Weee!!
Click to expand...

Yeah, this quarter's DPU is an increase of 9.9% q-o-q and DPU for FY2012 is an increase of 12.9% y-o-y. Didn't expect it to do so well, I'm surprised. :)

Growing in a Sustainable and Measured Way
“FY2012 has been an exciting year for CIT. The trust made two further acquisitions in 4Q2012, namely 15 Jurong Port Road and 3 Tuas South Avenue 4. Including these two properties, a total of nine acquisitions were committed to at a cost of S$280.4 million. Five of the nine acquisitions were completed in 2012 and will start to contribute fully from this year onwards and the remaining four will complete this year. DPU for FY2012 will be 4.784 cents, 12.9% higher than FY2011. Unitholders will be receiving a DPU of 1.229 cents for 4Q2012, an increase of 9.9% compared to a year ago. Moving forward, we will continue to grow our trust in a sustainable and measured way in the interest of unitholders,” said Mr Chris Calvert, Chief Executive Officer of CITM.

DPU expected to grow further this year. Once the remaining 4 of the 9 properties are completed, it'll contribute further to the increase in DPU, maybe in 2014. :)
 
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