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1Q 2017 passive income from S-REITs.

Saturday, April 1, 2017

"What is the interest rate risk of REIT investments? Interest rates only represent a portion of the overall equation."

Time flies. It is time for another quarterly update.

In 1Q 2017, I received income from the following S-REITs:

2. First REIT
5. Soilbuild REIT
6. Cache Log Trust
9. Suntec REIT
10. LMIR
11. CIT
12. Sabana REIT

My largest investments in the S-REITs universe are still in AA REIT and First REIT. The others are relatively small investments with IREIT and Soilbuild REIT being slightly larger.

In 1Q 2017, I made the following changes to my S-REITs portfolio:

1. Invested in Frasers L&I Trust (FLT).
2. Invested in CapitaRetail China Trust (CRCT).

3. Took part in Sabana REIT's rights issue.

See: History with Sabana REIT.

4. Invested in Starhill Global REIT (SGR).

See: Online shopping and SGR.

5. Added to my investment in IREIT.

Everything remaining equal, I don't think I will be making new investments or adding to any investment in the S-REITs space. I am pretty comfortable with what I have now.

So, how much income did I receive in 1Q 2017?

$ 21,477.10

This gives me about $7,159.00 a month which is a big reduction from a year ago.

Of course, what is missing is the income distribution from Saizen REIT.

Full year income, although reduced, from S-REITs should still be quite comfortable due to expected contributions from new investments in FLT, CRCT and SGR as well as a larger investment in IREIT.

I will be sharing the numbers for investments in non-REITs in my next blog.


Kevin said...

Hi AK,

Cache Log Trust has been underperforming in recent years. It lost several master lessee and had to go for multi-tenanted which contracted earnings. Having said that, the Singapore overall portfolio for land leasehold is pretty long.

Gearing is now over 43% and I am sure an impending rights issue or private placement will come soon to bring it down.

AK71 said...

Hi Kevin,

I bought into Cache Log Trust during the Global Financial Crisis. It was pretty promising back then. I still have a small legacy position which I don't mind holding on to. :)

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