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22c is, once again, resistance and immediate support is at 21.5c.
I will continue to accumulate at 21.5c and, perhaps, even 21c if the 200dMA should be tested as support. Fundamentally, buying more at 21.5c and 21c would give a handsome yield of 9.3 to 9.5%.
Choose Singapore REITs over developers: UOB KayHian
Friday, 14 January 2011
Friday, 14 January 2011
© 2011 - The Edge Singapore
Related post:
AIMS AMP Capital Industrial REIT: 22c support.
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16 comments:
hi AK
This REIT was known as MacArthurcook REIT a few years back. what changed?
Hi Isaac,
This was MacCook Industrial REIT (MI-REIT) up till sometime end 2009. Lots of history.
What has changed? Plenty and mostly positive. :)
Here is an early blog post of mine:
AIMS AMP Capital Industrial REIT (MI-REIT)
thanks AK.
Next distribution will be in March, so looking to load up soon ;)
Hi AK,
Thank you for your prompt reply. More attractive now it seems. :)
Wee~
Hi Isaac,
Hey, no problem. Glad to share. :)
With the sudden selling down on Friday, we have a nice window of opportunity to accumulate at a lower price now especially with the next distribution happening in March. Good luck. ;)
Hi Wee,
I am curious too since I am vested in this REIT. So, no trouble. :)
For sure, it is more attractive now at 21.5c and I am looking forward to adding to my position. ;)
hi AK
sorry to ask again, i can't seem to find this info on the AA reit website. what's the gearing level, NAV per unit for AA Reit?
Hi Isaac,
You will find the information you need in the following blog posts:
AIMS AMP Capital Industrial REIT: 2Q FY2011
AIMS AMP Capital Industrial REIT: Revised DPU and fair value.
Good luck. :)
Hi AK,
Agree, looks good to accumlate further if it goes lower.
BTW, can you share your view on
2nd Chance Properties?
Thanks,
CJ
Hi CJ,
If this REIT should hit 21c support, I would break my piggy bank and start mopping up. ;-)
I commented about 2nd Chance once before early last year. My thoughts on the counter remain the same now:
2nd Chance
AK
http://singstocks.com/forum/showthread.php?1510-Top-120-Dividend-Stocks-In-Singapore&p=4364#post4364
Shows #5 IS AA-REITS, offering a dividend yield of almost 18% ! Wah..... I am unsure how this was derived ?
Imagine getting payback within 5.75yrs. If this is true, I too will break the bank, cash-in insurance policies + my camera collections + my HDB flat and cheong for it. . ^-^
PS: Usually stay with this chart for reference http://reitdata.com/
SnOOpy168
Hi SnOOpy168,
I saw it and I am pretty sure the number is in error. ;)
I try to do my own research and not rely too much on secondary sources. Of course, I am just one person.
Hi AK,
I do noticed that the IPO of AIMS AMP Capital was at $1.20 and currently trading around $0.22.
Wondering what causes the purge of price after the IPO?
LT
Hi LT,
That would be MI-REIT's IPO. MI-REIT made some overpriced acquisitions prior to the last recession. Its previous CEO, Chris Calvert, who is the current CEO of Cambridge Industrial Trust, also failed to put in much needed financing arrangement when a deal was sealed to purchase an industrial property which was being built. Of course, when the recession came and credit dried up, it became impossible to secure any financing.
George Wang et al came along to rescue the embattled MI-REIT but, of course, with a proposition which heavily diluted the NAV/unit of the REIT, ensuring its survival. The REIT was renamed AIMS AMP Capital Industrial REIT.
Personally, I believe that the current REIT still suffers from its history as MI-REIT even though it is immaterial now.
So, although the wounds are healed, the scars remain and that would take time to fade. Fortunately, I have no problem with scars. ;)
Hi AK,
So in other words, wherever Chris Calvert goes, try to avoid getting into that particular counter? hee hee.......!
Btw, how do you get the NAV and fair value of a particular counter?
LT
Hi LT,
I liquidated my stake in Cambridge Industrial Trust sometime back and still blog about the Trust as and when Chris Calvert does something noteworthy. ;)
For example:
Cambridge Industrial Trust: Equity fund raising again.
The NAV/unit of a REIT is found in its quarterly reports. The fair value is more subjective.
What is fair to you? I think an 8% yield for AIMS AMP Capital Industrial REIT is fair and so arrived at 25c/unit as fair value for the REIT based on a DPU of 2c per year.
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