Current Price on 17th Feb 2012 = $0.815
- Current Yield = 7.77%
- Price-to-book Ratio = 0.59
- Assets per unit = $2.734
- Debt per unit = $1.352
- Gearing = 49.5% (not considering CPPU as assets, updated date 25th April 2012)
- Secured NAV = $0.387 (47.5%)
FCOT has announced a new acquisition which I believe is good for the REIT. Firstly, it is yield-accretive so we are enjoying a higher distribution. Secondly, it is financed through available cash and bank borrowings which I am assuming to be using current facilities. Thus, this property is unencumbered, which therefore boost its secured NAV to $0.387 (47.5% of trading price).
Its other factors which I have discussed earlier has not come into play yet so this is a pleasant surprise. Will continue to look at this closely as I am vested with 20,000 shares.
*** I realize that in my excel sheet, I have "not considered CPPU as assets" rather than "CPPUs as liabilities". Therefore, the changes have been made. My analysis remain the same. Apologies to all who have followed my blog.****
Its other factors which I have discussed earlier has not come into play yet so this is a pleasant surprise. Will continue to look at this closely as I am vested with 20,000 shares.
*** I realize that in my excel sheet, I have "not considered CPPU as assets" rather than "CPPUs as liabilities". Therefore, the changes have been made. My analysis remain the same. Apologies to all who have followed my blog.****
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