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REITS REIT-DPU  REITSBLOG REITS GEARING
SGX REIT

REITS

Understanding REITs on SGX

 

NAREIT 
  UNIT TRUSTS
       

 

REITS UPDATE

 

 

 

 

REITS

 CHARTS

 

       
REITS WEBSITE CHARTS CODE
AIMSAMPIREIT AIMSAMPIREIT AIMSAMPIReit BU5U.SI
Ascendas indt a-itrust Ascendas indt CY6U.SI
Ascendas reit Ascendas reit  Ascendasreit A17U.SI
AscottREIT AscottREIT AscottREIT A68U.SI
CACHE LOGISTICS TRUST CACHE LOGISTICS TRUST Cache Logistics Trust K2LU.SI
Cambridge Cambridge Cambridge J91U.SI
CapitaComm CapitaComm CapitaComm
 
C61U.SI
CapitalMALL CapitalMALL CapitaMall C38U.SI
capitaRChina capitaRChina CapitaRChina AU8U.SI
CDL HTrust CDL HTrust CDL HTrust J85.SI
first reit first reit First REIT AW9U.SI
fortune Reit HK$ fortune Reit HK$ Fortune Reit HK$ F25U.SI
fraserComm fraserComm FrasersComm A48U.SI
fraserCT fraserCT FrasersCT J69U.SI
indiabulls indiabulls Indiabulls F3EU.SI
K REIT K REIT K-REIT K71U.SI
Lippo-Mapletree LMIR Lippo-Mapletree LMIR LippoMapleT D51U.SI
MapletreeLog MapletreeLog MapletreeLog M44U.SI
Plife reit Plife reit PLife REIT C2PU.SI
Saizen reit Saizen reit SaizenREIT DZ8U.SI
Starhill Gobal REIT Starhill Gobal REIT Starhill Gbl P40U.SI
Suntec reit Suntec reit Suntec reit T82U.SI
       
 

NEWS UPDATE

 

REITS
AIMSAMPIREIT
Ascendas indt
Ascendas reit
 

AscottREIT

Ascott Residence Trust (ART) has successfully placed 419.7m new units to CapitaLand and other institutional investors. The new units will start trading tomorrow at 2pm at $1.08/unit. Existing unitholders can subscribe for the preferential offering of new units at $1.07/unit from Friday, on the basis of one new unit for every 10 existing units held. We estimate a yield of 6.6% for FY11F. Reiterate BUY with a reduced target price of $1.38.

 

CACHE LOGISTICS TRUST
Cambridge
CapitaComm
CapitalMALL

CIMB-240910: The increase in the retail sales index coupled with burgeoning tourist arrivals and increasing consumer confidence will favour CMT’s retail tenants. However, its growth prospects ahead remain mixed. While we continue to recognize CMT’s impeccable property selection proficiency and operational management, we believe the stock is fully valued at current price level without further accretive acquisitions or cost-effective development projects. While the broader S-REIT sector is trading at 3.2% discount-to-book on average, CMT’s market value is markedly 37% above its book value, justifying our HOLD rating with a RNAV-derived fair value estimate of S$2.01.

 

capitaRChina
CDL HTrust
first reit
fortune Reit HK$
fraserComm
fraserCT

 

indiabulls
K REIT
LippomapleT
MapletreeLog
Plife reit
Saizen reit
Starhill Gbl
Suntec reit
 

 

 

2011

NEWS

UPDATES

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JAN 2011  

REIT YIELDS -JAN 2011

REIT RETURNS RANKING

 

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JAN 2010 TBA
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JUL 2010 TBA
AUG 2010 Types of reits and how to invest
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DEC 2010 TBA

 

2009

REITS

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JAN 2009  
FEB 2009  
MAR 2009  
APR 2009  
MAY 2009  
JUN 2009  
JUL 2009 Starhill Global REIT's DPU up 6.7% on-year in Q2

Ascendas India Trust to pay 2.05 S'pore cents per unit for Q1

Suntec REIT's Q2 DPU rises 6.6% to 2.97 S'pore cents

Fortune REIT's Q2 distributable income down 0.7% to S$14.7m

 

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JAN 2011    REIT YIELDS -JAN 2011

If you have a bigger risk appetite, you can consider buying the REITS instead.  The yields from Singapore are generally higher than 4% based on the price as at Jan 6 2011.

 
Counter Price as at Jan 6 Current Yield (%) Forecast Yield (%)
AIMPS AMP Capital Industrial REIT 0.225 9.6 9.24
Ascendas REIT 2.17 6.36 6.54
Ascendas India Trust 0.925 7.24 8
Ascott Residence Trust 1.26 5.83 6.14
Cache Logistics Trust 0.965 7.88 8.88
Cambridge Industrial Trust 0.545 8.99 8.99
CapitaCommercial Trust 1.53 5.03 4.84
CapitaMall Trust 1.98 4.9 5.2
CapitaRetail China Trust 1.25 6.6 6.8
CDL Hospitality Trusts 2.07 4.88 5.27
First REIT 0.74 10.38 NA
Frasers Centerpoint Trust 1.53 5.36 5.69
Frasers Commercial Trust 0.17 6.47 6.47
Fortune REIT (HK $) 3.96 6.09 6.62
India Bulls Property Investment Trust 0.27 8.52 8.52
K-REIT Asia 1.44 4.51 5.35
Lippo-Mapletree Indonesia Retail Trust 0.57 8.25 8.6
Mapletree Industrial Trust 1.07 6.36 7.38
Mapletree Logistics Trust 0.955 6.7 6.7
Parkway Life REIT 1.74 5 5.46
Sabana REIT 0.98 8.81 8.85
Saizen REIT 0.16 1.63 NA
Starhill Global REIT 0.61 6.23 6.56
Suntec REIT 1.43 6.85 6.22

(Extracted from TheEdgeSingapore January 10 2011)

 
Experts are generally bullish on REITS that invest in commercial properties, industrial properties and those that are focused in the hospitality sector.  So if your fixed deposit is maturing, you have more choices now to earn a higher return.

 

REIT RETURNS RANKING

 

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AUG 2010    5 Types Of REITs And How To Invest In Them

, On Thursday 12 August 2010, 5:07 INVESTOPEDIA.COM

Real estate investment trusts (REITs) are a key consideration when constructing any equity or fixed-income portfolio. They provide greater diversification, potentially higher total returns and/or lower overall risk. In short, their ability to generate dividend income along with capital appreciation make them an excellent counterbalance to stocks, bonds and cash. REITs generally own and/or manage income-producing commercial real estate, whether it's the properties themselves or the mortgages on those properties. You can invest in the companies individually or through an exchange-traded fund or mutual fund. There are many types of REITs available. Here we look at a few of the main ones and their historical returns. By the end of this article you should have a better idea when and what to buy.

Historical Returns
Real estate investment trusts are historically one of the best-performing asset classes available. The FTSE NAREIT Equity REIT Index is what most investors use to gauge the performance of the U.S. real estate market. Between 1990 and 2010, the index's average annual return was 9.9%, second only to mid-cap stocks, which averaged 10.3% per year over the same period. In comparison, fixed income assets managed 7% annual returns and commodities just 4.5% a year. Real estate was the worst performer of eight asset classes in just two years out of 20. Fixed income, on the other hand, was the worst performer six times in the same 20-year period. Historically, investors looking for yield have done better investing in real estate than fixed income, the traditional asset class for this purpose. A carefully constructed portfolio should consider both.

Retail REITs
Approximately 24% of REIT investments are in shopping malls and freestanding retail. This represents the single biggest investment by type in America. Whatever shopping center you frequent, it's likely owned by an REIT. When considering an investment in retail real estate, one first needs to examine the retail industry itself. Is it financially healthy at present and what is the outlook for the future?

It's important to remember that retail REITs make money from the rent they charge tenants. If retailers are experiencing cash flow problems due to poor sales, it's possible they could delay or even default on those monthly payments, eventually being forced into bankruptcy. At that point, a new tenant needs to be found, which is never easy. Therefore, it's crucial that you invest in REITs with the strongest anchor tenants possible. These include grocery and home improvement stores.

Once you've made your industry assessment, your focus should turn to the REITs themselves. Like any investment, it's important that they have good profits, strong balance sheets and as little debt as possible, especially the short-term kind. In a poor economy, retail REITs with significant cash positions will be presented with opportunities to buy good real estate at distressed prices. The best-run companies will take advantage of this.

Residential REITs
These are REITs that own and operate multi-family rental apartment buildings as well as manufactured housing. When looking to invest in this type of REIT, one should consider several factors before jumping in. For instance, the best apartment markets tend to be where home affordability is low relative to the rest of the country. In places like New York and Los Angeles, the high cost of single homes forces more people to rent, which drives up the price landlords can charge each month. As a result, the biggest residential REITs tend to focus on large urban centers.

Within each specific market, investors should look for population and job growth. Generally, when there is a net inflow of people to a city, it's because jobs are readily available and the economy is growing. A falling vacancy rate coupled with rising rents is a sign that demand is improving. As long as the apartment supply in a particular market remains low and demand continues to rise, residential REITs should do well. As with all companies, those with the strongest balance sheets and the most available capital normally do the best.

Healthcare REITs
Healthcare REITs will be an interesting subsector to watch as Americans age and healthcare costs continue to climb. Healthcare REITs invest in the real estate of hospitals, medical centers, nursing facilities and retirement homes. The success of this real estate is directly tied to the healthcare system. A majority of the operators of these facilities rely on occupancy fees, Medicare and Medicaid reimbursements as well as private pay. As long as the funding of healthcare is a question mark, so are healthcare REITs.

Things you should look for in a healthcare REIT include a diversified group of customers as well as investments in a number of different property types. Focus is good to an extent but so is spreading your risk. Generally, an increase in the demand for healthcare services (which should happen with an aging population) is good for healthcare real estate. Therefore, in addition to customer and property-type diversification, look for companies whose healthcare experience is significant, whose balance sheets are strong and whose access to low-cost capital is high.

Office REITs
Office REITs invest in office buildings. They receive rental income from tenants who have usually signed long-term leases. Four questions come to mind for anyone interested in investing in an office REIT


1.What is the state of the economy and how high is the unemployment rate?


2.What are vacancy rates like?


3.How is the area in which the REIT invests doing economically?


4.How much capital does it have for acquisitions?

Try to find REITs that invest in economic strongholds. It's better to own a bunch of average buildings in Washington, D.C., than it is to own prime office space in Detroit, for example.

Mortgage REITs
Approximately 10% of REIT investments are in mortgages as opposed to the real estate itself. The best known but not necessarily the greatest investments are Fannie Mae and Freddie Mac, government-sponsored enterprises that buy mortgages on the secondary market.

But just because this type of REIT invests in mortgages instead of equity doesn't mean it comes without risks. An increase in interest rates would translate into a decrease in mortgage REIT book values, driving stock prices lower. In addition, mortgage REITs get a considerable amount of their capital through secured and unsecured debt offerings. Should interest rates rise, future financing will be more expensive, reducing the value of a portfolio of loans. In a low-interest rate environment with the prospect of rising rates, most mortgage REITs trade at a discount to net asset value per share. The trick is finding the right one.

The Keys to Assessing Any REIT
I've talked about specific types of REITs as well as what to look for when investing in them. However, there are a few things to keep in mind when assessing any REIT. They include the following:

1.REITs are true total-return investments. They provide high dividend yields along with moderate long-term capital appreciation. Look for companies that have done a good job historically at providing both.


2.Unlike traditional real estate, many REITs are traded on stock exchanges. You get the diversification real estate provides without being locked in long term. Liquidity matters.


3.Depreciation tends to overstate an investment's decline in property value. Thus, instead of using the payout ratio (what dividend investors use) to assess an REIT, look at its funds from operations (FFO) instead. This is defined as net income less the sale of any property in a given year and depreciation. Simply take the dividend per share and divide by the FFO per share. The higher the yield the better.


4.Strong management makes a difference. Look for companies that have been around for a while or at least possess a management team with loads of experience.


5.Quality counts. Only invest in REITs with great properties and tenants.


6.Consider buying a mutual fund or ETF that invests in REITs, and leave the research and buying to the pros.
The Bottom Line
The federal government made it possible for investors to buy into large-scale commercial real estate projects as far back as 1960. However, only in the last decade have individual investors embraced REITs. Reasons for this include low interest rates, which forced investors to look beyond bonds for income-producing investments, the advent of exchange-traded and mutual funds focusing on real estate and, until the 2007-08 real estate meltdown, an insatiable appetite on the part of Americans to own real estate and other tangible assets. REITs, like every other investment in 2008, suffered greatly. But despite this, they continue to be an excellent addition to any diversified portfolio.
 

 

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Starhill Global REIT's DPU up 6.7% on-year in Q2

SINGAPORE: Singapore-listed Starhill Global REIT, which owns stakes in Wisma Atria and Ngee Ann City, said on Wednesday its distribution per unit for the second quarter rose 6.7 per cent year-on-year to 1.9 Singapore cents. Net property income for the three months to June climbed 16.4 per cent to S$27 million, mainly due to higher rates achieved for office renewals and new leases in Singapore, as well as higher revenue from its Chengdu property in China. The property trust said occupancy for retail space in both Wisma Atria and Ngee Ann City remained high at around 98 per cent in the quarter.Meanwhile, occupancy for office space in the two properties were above 90 per cent.Starhill said it will continue to concentrate on tenant retention and sustaining the appeal of its retail properties in terms of trade mix and offerings.It added that managing financing cost remains a key objective. - CNA/yb

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Ascendas India Trust to pay 2.05 S'pore cents per unit for Q1

SINGAPORE: Singapore-listed Ascendas India Trust said it will pay 2.05 cents per unit for its fiscal first quarter. This was up 25 per cent over the same period a year ago. All in, its first quarter distributable income to unit holders came to S$15.7 million. The rise was on the back of a 15 per cent increase in net property income to S$18.3 million for the three months ended June. The manager of the trust said a key contributor to the results was the growth in property income despite the difficult business environment.It added that income grew on the back of high occupancy rates and resilient rental rates.Looking ahead, the property trust said it will continue to focus on retaining tenants, containing costs and seeking opportunities to invest in future growth.However, it said its performance is tied to the performance of its tenants and demand for office space in Bangalore, Chennai and Hyderabad. - 938LIVE/vm

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Suntec REIT's Q2 DPU rises 6.6% to 2.97 S'pore cents

SINGAPORE: Suntec Real Estate Investment Trust said its second quarter distribution per unit rose 6.6 per cent to 2.97 cents. This was on the back of higher net property income which rose 6.2 per cent on year to S$149 million for the three months ended June.The property trust said this was mainly due to higher rents achieved for the Suntec City and Park Mall properties.As at June, the committed occupancy for its overall office portfolio stood at 94.8 per cent. For the first half of the financial year, the REIT renewed and signed around 375,000 square feet of office space that was up for renewal.With this, the remaining office leases expiring in the current financial year amount to around 4.5 per cent of the total office net lettable area. - 938LIVE/vm

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Fortune REIT's Q2 distributable income down 0.7% to S$14.7m

SINGAPORE: Singapore-listed Fortune REIT, which owns shopping malls in Hong Kong, said its distributable income for the second quarter dipped 0.7 per cent to S$14.7 million. Net property income for the three months ended June edged up slightly by 0.3 per cent to S$21.4 million. Distribution per unit for the first half of the year rose 5.9 per cent from a year ago to 19.6 Hong Kong cents. The REIT said higher rental rates at some of the malls were the main drivers of revenue growth in the first half. Looking ahead, Fortune REIT said the near-term outlook of the retail market is expected to remain challenging. But it believes that its portfolio of eleven suburban retail properties will remain resilient throughout the downturn as the malls mainly cater to non-discretionary spending in daily necessities and services.The manager of the property trust said it will continue to proactively manage the portfolio and aim to deliver unitholders stable returns. - 938LIVE/vm

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