Cache Logistics Trust: 1Q 2012 DPU 2.086c.

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.

AIMS AMP Capital Industrial REIT: Credit rating.

Life has been somewhat stressful for me lately. Lots of things happening. That explains the paucity of blog posts.

I am trying to get up to speed with things and also trying to catch up on my reading of business periodicals which I have neglected lately.

In today's The Business Times, I read that AIMS AMP Capital Industrial REIT has received an investment grade credit rating of BBB- from Standard & Poor's. This is good news indeed. This rating is the same as the one received by Sabana REIT last year in August.

This means that AIMS AMP Capital Industrial REIT would be able to access investment grade debt and capital markets from now on. It would also allow the REIT to gear up to a maximum of 60% if necessary.

Anyone who has been following my blog would know that I have been walking the talk when it comes to AIMS AMP Capital Industrial REIT. So, for anyone who has walked the walk with me although there has been no lack of naysayers, good on you. Congratulations!

Fair value for AIMS AMP Capital Industrial REIT, I believe, remains closer to S$1.25 per unit which would see its distribution yield compressing to about 8% per annum.

Related posts:
1. AIMS AMP Capital Industrial REIT: How much higher?
2. OCBC Research: Industrial REITs.