Cache Logistics Trust: 4Q DPU 2.154c.

Full year distributable income improved 9.5% while full year net property income improved 11.7%.

However, full year DPU improved by a very much smaller 1.6%.

Why do investors like Cache Logistics Trust? Some reasons could be:

1. 100% occupancy rate.

2. Only 2% of lettable space is up for lease renewal this year.

3. Weighted average lease to expiry: 3.9 years.

At $1.27 per unit, annualised, distribution yield is 6.78%. This is much lower than Sabana REIT's but Cache Logistics Trust offers greater certainty and that alone would command a premium.

A more interesting question is whether the size of the premium is justifiable. That is another exercise in subjectivity.

Gearing is higher now at 31.7% which, however, is still comfortable.

Related post:
Cache Logistics Trust: DPU down 5%.

Vote and win cash prizes!

Make some people insanely famous!

Vote for your favourite and win cash prizes!

Go to:
Vote: Kinder Bueno Mashine mash-up and win!

Voting period: 22nd January 2013 to 5th February 2013.