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Cache Logistics Trust: 1Q FY2011 results.

Tuesday, April 26, 2011

Higher DPU than forecast: 1.952c.
XD: 3 May.
Payable: 30 May.

NAV/unit: 88c.
Gearing: 26.4%.
Interest cover ratio: 9.5x

See presentation slides here.

The numbers are nice and strong. Although its distribution yield is lower than AIMS AMP Capital Industrial REIT, I believe that it is a premium that is well worth the money.

Looking at the chart, a potential reverse head and shoulders is quite obvious. Of course, I could be counting the chicks before they hatch here. The neckline is at 96c and if the pattern is a valid one, we could see $1.00 tested again. Good luck to fellow unitholders.


vin said...

Bro AK, I'd like to check my gearing calculations. I'm using total liabilities / total assets, which gives me:

215435/788271 = 27.3%

I'm unable to get your gearing ratio of 26.4%. What should the correct formula be? Thank you again, I'm a great fan of your blog and just starting into Reits, so would like to get the proper training/education!

AK71 said...

Hi Vin,

Total Debt (long term borrowings+short term borrowings)/Total Assets is probably what you want.

I lifted the numbers from the management's report. So, it should be accurate.

I am happy you like my blog and wish you good luck in your investments. :)

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