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Both Sabana REIT and AIMS AMP Capital Industrial REIT will be releasing quarterly financial results on 20 January 2012.
Sabana REIT: see announcement here.
AIMS AMP Capital Industrial REIT: see announcement here.
Sabana REIT has completed a few acquisitions in the last quarter. However, I think their contributions to distributable income will be more substantial in the current quarter. This is because the acquisitions where completed in November and December and not at the beginning of the last quarter.
On 22 November, acquisitions of the following were completed:
1. 3A Joo Koon Circle
2. 2 Toh Tuck Link
3. 21 Joo Koon Crescent
See announcement here.
On 7 December, the acquisition of 39 Ubi Road 1 was completed. Read announcement here.
On 15 December, the acquisition of 6 Woodlands Loop was completed. Read announcement here.
All acquisitions were funded by debt and would contribute to a higher DPU. Conservatively, I am expecting a DPU of 2.2c or a bit more to be announced on 20 Jan.
We could see a higher DPU in the next quarter when full quarter contributions from the aforesaid completed acquisitions weigh in.
As for AIMS AMP Capital Industrial REIT, redevelopment of 20 Gul Way is ongoing and seems to be progressing nicely. Higher income due to this redevelopment will materialise only in 1Q 2013. I blogged about it before. See it here and how I bought more units at 93.5c.
It would be nice to have a repeat of 2.5c DPU when results are released on 20 Jan although I would not be surprised if DPU dips a bit due to possible loss of rental income from the redevelopment of 20 Gul Way. I mentioned it last year in a blog post as well: here.
Unit prices of both Sabana REIT and AIMS AMP Capital Industrial REIT have been creeping up. Their unit prices closed at 90c and 97.5c respectively in the last session. With the estimates I have made, this would mean annualised distribution yields of roughly 9.78% and 10.26% respectively.
Good luck to all unit holders.
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