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Saizen REIT: Beefing up distributable income.

Saturday, August 4, 2012

Saizen REIT has been adding apartment buildings to its portfolio since resolving the CMBS for YK Shintoku. This will go some way to ameliorating the expected decline in DPU due to warrants exercised earlier.



Since my blog post of 26 May 2012, Saizen REIT's unit price has been rising gradually, hitting a high of 16c just two sessions ago. Mr. Market has recovered from his anxiety and is making up for over selling the REIT back in May, it seems.

For anyone who has missed the boat and is thinking of jumping in now, I would say that the risk premium is higher now, obviously. In the last two years or so, the highest Saizen REIT's unit price went to was 18c, if I remember correctly. Would its unit price push to test 18c again? I am almost confident it would but when would it do so? That, I cannot say.

If the REIT's unit price should decline, there are layers of support with longer term supports clustered at 14.6c, 14.4c and 14.3c. The shorter term 20dMA is at 15.4c. People anticipating its half yearly income distribution which is payable sometime in September and to be announced this month could be eyeing the 20dMA. So, the support, if tested, could show some strength in the near term.

Related post:
Saizen REIT: Why did I buy and would I buy more?



Japan Residential Assets Manager, the manager (of Saizen Real Estate Investment Trust (Saizen REIT),said associate Godo Kaisha has agreed to acquire of Rise Yotsugibashi (RYB) from an independent party for JPY 428 million ($6.8 million).


RYB is a brand new building built in June. It comprises 49 residential units, three car parking lots and five bicycle lots....


RYB is currently in the process of being tenanted. It is expected to generate annual revenue and net property income of JPY 36.3 million and JPY 27.5 million respectively, which are equivalent to about 0.9% and 1.1% of Saizen REIT’s annual revenue and net property income in the financial year ended 30 June 2011 (FY2011).


16 comments:

Novice198 said...

Hi AK71,
did you recv my mail. I sent it 3rd time from starhub email id. I am addressing the mails to ak71@sillypore.com.
This time I even used another computer, to eliminate any firewall etc problems.
cheers
rsm

AK71 said...

Hi rsm,

I find this very odd. I did not receive your email (for the 3rd time, it would seem). You got my email address correct too. I don't know what could have gone wrong...

I am almost sure it couldn't be a problem with gmail because I just received an email from a reader a few days ago and he used a gmail account...

I am puzzled. :(

Novice198 said...

Hi AK,
any other email address that you use so that i can send the mail there.
cheers
rsm

AK71 said...

Hi rsm,

I am afraid that is the only personal email address I have...

I have an idea. Give me your personal email address and I will send you an email. Then, you just have to click reply and send me the email (if you receive my email successfully, that is). ;)

Novice198 said...

Hi AK,
Can you send a msg to rsm198@gmail.com

cheers
rsm

Gallen said...

AK, maybe check ur junk folder. Sometimes email ends up there for no reason :)

Dark

AK71 said...

Hi rsm,

Done. Hope this works. :)

AK71 said...

Hi Gallen,

I checked. There is nothing in the Trash folder. :(

Gremlins...

Novice198 said...

Hi AK71,
Did you recv my email?
cheers
rsm

AK71 said...

Hi rsm,

I was wondering whether you sent it as I did not receive it. This is very odd.

In fact, I just replied to a reader who is using a gmail account. So, I really do not know why your email is not getting to me. :(

Novice198 said...

Hi AK,
I sent another mail from StarHub email account from the IPad. I hope you recv this mail.
Cheers
Rsm

AK71 said...

Hi rsm,

I got your email this time and I have replied. :)

Novice198 said...

Hi AK 71,
Did you recv my reply to your last mail.
Cheers
Rsm

AK71 said...

Hi Rsm,

Unfortunately, no. :(

Was it a resend of the original email which I had difficulty receiving? The problem could lie with the email itself. Any attachments?

Alternatively, you could paraphrase the email, leaving out any private details and post it here in my blog as a comment.

teh kelvin said...

Hi AK,

May I have your view on the financial results recently reported by Saizen?

Its stock price increased this morning. What are you views on buying in?

Thank you

Kelvin

AK71 said...

Hi Kelvin,

It is a good set of results.

I increased my investment in the REIT by 4x when its price plunged to under 13c near the expiry date of its warrants. So, I am not adding at current prices.

See:
Saizen REIT: Why did I buy and would I buy more?

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