Financial results of REITS 2009 – Annual Reports

The following key indicators were extracted from the annual reports of some Real Estate Investment Trusts (REITs) for the year ended 31 December 2009.

 

 

DPU

(¢)

Distribu-table

Income

Yield

(%)1

Net

Asset

Per unit

Gearing

(%)

Mapletree Log

6.02

$117.9m

7.6

$0.85

36.7

CapitaCommercial

7.06

$198.5m

6.0

$1.37

33.2

CapitaMall

8.85

$282m

4.92

$1.54

30.5

CDL Hospitality

8.59

$75m

4.9

$1.43

19.1

K-REIT Asia

5.28

$70.5m

4.8

$1.50

27.7

Parkway Life

7.74

$46.7m

6.34

$1.39

27.4

Ascott

7.32

$45.2m

6.1

$1.34

41.2

Cambridge Industr

5.35

$44.2m

11.9

$0.60

42.6

 

1 Based on price at 31 December 2009

 

The distribution yield information is based on 2009 financial performance. It is one indicator for investor to consider in investing in a particular REIT. Past distribution does not suggest similar distribution in the future.

 

The other useful indicator is the Net Asset per unit. This should be checked with price currently being traded in the Stock Exchange and see how much above Net Asset per unit you are paying for a REIT (depicted by Price to Book Ratio). A comparison with other REITs will provide an idea on how expensive the REIT is.

 

 

Net

Asset

Per unit

Currently Traded Price

Price/ Book Ratio

Mapletree Log

$0.85

$0.85

1.0

CapitaCommercial

$1.37

$1.08

0.788

CapitaMall

$1.54

$1.80

1.16

CDL Hospitality

$1.43

$1.84

1.28

K-REIT Asia

$1.50

$1.09

0.72

Parkway Life

$1.39

$1.35

0.97

Ascott

$1.34

$1.26

0.94

Cambridge Industr

$0.60

$0.48

0.8

 

Copyright © 2010, the author known as LKT in Singapore.

 

The material presented is intended to be general and written in layman’s language as much as it is possible. The author shall not be liable for any direct or consequential loss arising from any use of material written. Please seek professional advice from your financial advisor or financial institutions on material written covering financial matters.

Advertisements
This entry was posted in Financial Management. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.