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It is no secret that I like industrial S-REITs as passive income generators. I am also vested in Cache Logistics Trust although my long position here is quite a bit smaller compared to my investments in Sabana REIT and AIMS AMP Capital Industrial REIT.
DPU for the quarter came in at 2.086 S cents and represented a 6.9% YoY increase.
Income distribution is payable 30th of May 2012.
CACHE’s portfolio properties remained 100% occupied.
The weighted average lease expiry (WALE) stood at 4.4 years.
Aggregate leverage improved from 29.6% as at 31 Dec 2011 to 27.7%. This gives the REIT an estimated S$110m of additional debt headroom for future investment opportunities.
Interest cover maintained at a strong 8.0x.
Related post:
Cache Logistics Trust: 4Q and 2011 results.
See OCBC Research, 19 April:
Cache Logistics Trust: Positive start to FY12.
See presentation slides: here.
Bloggy Award