Reader:
Frasers Hospitality Trust. I like this and invested in it last year and applied for excess rights.
I find FHT attractive because mostly freehold and spread across many countries. Yield is 7%+. Plus strong sponsor and brand name.
I am not good in analysing. Hope you will talk to yourself. :)
AK:
I don't like it when a REIT purchases properties and DPU goes down.
And the rights issue was in part to strengthen balance sheet which did nothing to improve DPU.
"The issue would also reduce FHT's debt levels and strengthen its balance sheet."
http://www.straitstimes.com/business/companies-markets/frasers-hospitality-trust-to-raise-266m-in-rights-issue
I don't like it when total distributable income goes up but DPU goes down.
"Distribution income for the quarter was up 3.1 per cent year-on-year... DPS in the three months as at end December 2016 was down 18.9 per cent year-on-year..."
http://www.businesstimes.com.sg/companies-markets/frasers-hospitality-trusts-dps-down-on-enlarged-stapled-security-base
As a shareholder, I should be very interested in what happens to the DPU. I feel that the shareholders could have been better off without the rights issue.
There are probably things to consider beyond that but my plate is full. ;)
Related post:
REITs and rights issue.
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