Current Price on 2nd July 2012 = $1.065
- Current Yield = 7.38%
- Price-to-book Ratio = 0.746
- Assets per unit = $2.369
- Debt per unit = $1.027 (including current liabilities)
- Gearing = 43.4%
- Secured NAV = $0.712 (66.82%)
K-REIT Asia made a surprise acquisition to hold 99.9% of OFC which is yield accretive. (Assumption is an increase of about 0.22 cents which is reflected in the yield as above). Moreover, it has earlier converted its MBFC to a LLC which gives some cost savings. This should translate to a higher yield as well.
What is more significant to me is that they are able to issue units at $1.17 which is much higher than the trading price. It shows a lot of confidence in K-REIT Asia's management of properties under its charge and also the underlying properties.
I am vested with 16,000 shares and is holding onto it. However, it is unlikely that I will buy more units as its price is already quite high.
What is more significant to me is that they are able to issue units at $1.17 which is much higher than the trading price. It shows a lot of confidence in K-REIT Asia's management of properties under its charge and also the underlying properties.
I am vested with 16,000 shares and is holding onto it. However, it is unlikely that I will buy more units as its price is already quite high.
No comments:
Post a Comment