UPDATE (January 2017):
"...with CRT no longer having an external trustee-manager, we believe this may remove a hurdle to a potential takeover by a J-REIT as speculated by some market participants due to CRT’s persistent high yield and discount to its NAV. " DBS Research.
Is Croesus Retail Trust an asset play that pays a good dividend while we wait? Sounds like Saizen REIT? Another Saizen REIT?
-----------------------------
Hi AK,
Thanks for your reply. :)
Rest assured I'm not trying to dig your portfolio value, rather, I have an planned/budgeted for a 5% yield on my portfolio returns and am not sure if this is something that is achievable or I might even be too conservative and should be aiming for something in the 7-8% range?
Hi,
7 to 8% yield is not unrealistic if we are invested in AIMS AMP Capital Industrial REIT, for example. ;)
Something higher? I-REIT and Croesus Retail Trust should do it.
If you don't like REITs and Biz Trusts, you can still get close to 4% yield (e.g. DBS) and 5% yield (e.g. SPH).
Best wishes,
AK
Note:
AK is just throwing some ideas in the air. If they fall and hit your head, don't scold me. DYODD.
Related post:
1. AIMS AMP Capital Industrial REIT.
2. 1H 2016 income from S-REITs.
3. 1H 2016 income from non-REITs.
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11 comments:
love this.
they shouldn't have any reason to complain after the fact (if it happens) with this disclaimer.
"AK is just throwing some ideas in the air. If they fall and hit your head, don't scold me. DYODD."
Hi SMK,
I also say.
Om Amitabha.
ireit is doing very well. so is igolf (forgot the reit name). some of the more exotic reits in my portfolio. bought based on ak analysis here.
Hi seefei,
Accordia Golf Trust? Not a REIT. ;p
Hi AK,
What is your view about AIMs having their EPS lower than the DPU for last year and this quarter? Will it be risky that they will eventually unable to sustain paying out the high DPU?
Hi M4MG,
Don't analyse REITs like you do regular companies.
REITs distribute their income and not earnings.
Use the "Search" function at the top of my blog and search for "Funds From Operation (FFO)" to get an idea.
Dear AK,
Thank you so much for taking time to explain..
I searched and calculated that the FFO for FY 2015 based on AR is 0.117, which is slightly higher than the 0.1135 paid out last year. :)
I merely used the formula blindly for now (FFO = Net Income+ Depreciation+ Amortization - Gains on Sales of Property).. still need to understand why with more reading..
Really appreciate your sharing and pointing to the right direction of learning.
Hi M4MG,
We are all learning together. :)
Yes, AA REIT pays out almost 100% of their income to unitholders.
Croesus Retail Trust
Income available for distribution rose 21.9% from JPY 876.7 mln in 4Q FY15,
to JPY 1,068.5 mln in 4Q FY16. This resulted in a higher DPU of 1.70 Singapore cents for 4Q FY16, as compared to 4Q FY15’s restated DPU of 1.59 Singapore cents. Correspondingly, DPU for FY16 came in at 7.06 Singapore cents, 11.2% higher than FY15’s restated DPU1 of 6.35 Singapore cents despite the enlarged share base.
Lim & Tan recoomends a BUY on CRT, backed by a valuation of 0.8x P/B and forward yield of about 8.8%.
(In the recent rights issue, AK received 5,000 excess rights unit at 79.7c per unit.)
Croesus Retail Trust registers 1Q FY2017 DPU yoy growth of 9.8% to 1.79 Singapore cents.
Reader:
I am a young working professional and I have followed your blog for a year. I am writing to thank you as I invested in the 5 stocks you anyhow picked for income investors. Apart from SPH, the rest are doing well. I am still learning and your blog is very helpful. Please continue sharing.
AK:
Aiyoh. I anyhow picked and you anyhow bought. We are both lucky lah. Sometimes, I get lucky picking 4D also. ;p
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