3 Trusts in AK71's portfolio and their income distributions.

I am expected to be quite bogged down by work in the near term and it will probably be a good idea to get more sleep in the meantime. However, reading pages 6 and 7 of The Business Times just now perked me up and I just got to blog about it.

3 Trusts I am invested in have announced their DPU for the last quarter:

The star is AIMS AMP Capital Industrial REIT which, regular readers would know, is one of my two biggest investments in S-REITs, the other one being Sabana REIT. As per my expectations, the annualised DPU of the REIT is now 11c as it declared a DPU of 2.75c for the quarter ended 30 Sep 13.

There are plans to bump up DPU in the next 2 years through AEIs, acquisitions and by maximising plot ratios. I will temper my optimism because if the REIT should try to lower its gearing, it could do another private placement and this would water down any potential increase in DPU.

Cache Logistics Trust which most analysts seem to favour announced a lower DPU of 2.126c, down 0.8%, year on year. Not a big deal although a bit of growth would have been nice. This is especially when distributable income actually rose 9.6% to $16.5million.

DPU came in lower due to 70 million private placement units in March this year. Regular readers know that I much prefer rights issues to private placements since retail investors like me never get to buy discounted units at private placements.

The third Trust is Frasers Commercial Trust (FCOT). It announced a DPU of 2.08c which is some 18.9% higher, year on year. Lower finance costs and lesser payment to holders of its Convertible Perpetual Preferred Units (CPPUs) are what helped to boost DPU.

A rough back of the envelope calculation tells me that the income distributions for the quarter ended 30 Sep 13 from these 3 Trusts will form approximately 7% of my total passive income from S-REITs this year. This will be very useful for my first year end holiday with my family in 5 years. I am looking forward to spending some quality time with my family and taking a longish break from work.

Always good to have positive news to perk us up in life.

Related posts:
1. Cache Logistics Trust: Initiated long position.
2. FCOT: DPU up 16.8% in 18 months.
3. AIMS AMP Capital Industrial REIT: Making money.

Buffett's secrets from Baltimore County Public Library.

I just received a parcel. It contains a hard cover copy of "Buffettology" from Baltimore County Public Library!

The library received the book in November 1997. Wow! Imagine that. I was only 26 years old in 1997.

This book is 16 years old! It was sitting in a public library in the USA and now it is mine. I get a strange, fuzzy feeling thinking about it.

It also gives me satisfaction to know that this purchase from BetterWorldBooks helped to fund literacy for the less privileged.

Some stuff in the book.

New material for bedtime reading.

Related post:
Good deal on Buffettology.