They chose financial independence over home ownership.

This is somewhat extreme but watch how this Canadian couple chose financial independence over home ownership.  They are in their 30s and,...

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First REIT: 1Q 2011 results.

Wednesday, April 20, 2011

Feeling somewhat tired and was thinking of not checking my blog today. Then, I remember that First REIT would have announced their results this evening. All as well since I found some comments waiting for my replies. Would not do to make loyal readers wait too long. ;-)

First REIT delivered a set of results that is very much within expectations. I had expected a DPU of about 1.6c. It turned out to be 1.58c. Close enough. Gearing is at 13.8% which leaves the REIT plenty of room to gear up for future acquisitions. After all, the REIT plans to grow its portfolio from the current S$584.6 million to S$1 billion in the next 2 to 3 years.

Some numbers:
NAV/unit: 78.25c.
Interest cover ratio: 11.6x.
See presentation slides from AGM here.

The counter would go XD on 27 April 2011 and distribution would be made on 30 May 2011.

Could we see price moving higher from here? I am inclined to believe that it would although it should hit resistance at 76c to 77c in the immediate future if so.

Related post:
First REIT: Bought more at 73.5c.


Derek said...

Hi AK,

Am I the first loyal reader? :)

You are spot on man. Another bumper dividends from this counter.

Huah Ah!

AK71 said...

Hi Derek,

First and only one so far. Haha.. This REIT is a stable passive income generator. No question about it. ;)

iisterry said...

How about doing some qualitative analysis on the management?

I think most are already very familiar with the quantitative aspect of the REIT.

Suggestion to boost your readership la. =)

Anonymous said...

market cap is below $600 million.
I agreed this is a good and stable


AK71 said...

Hi iisterry,

I probably do not know enough to do a qualitative analysis of the REIT's management. ;p

The quantitative aspects of the REIT already show how good the management is, I suppose. :)

AK71 said...

Hi goldmansion,

Let us hope that it would grow in good time. I am on board for the ride. :)

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