Welcome to my investment blog where I share with you my analysis of REITs in Singapore.

I hope that my investment philosophy will bring me a steady stream of income apart from my job. I am aiming for at least $3,000 per month which can sustain the current expenses of myself and my family.

Do enjoy reading my blog and post any comments that you have. I welcome them because it is a time to learn from each other.

When I am looking at investing in REIT, here are some of the guidelines that I am looking at. Feel free to comment on it. I am willing to listen to ideas.

-> at least 8% yield.
-> Price that is lower than its NAV.
-> Low gearing (if possible)
-> High secured NAV.

Current Dividend income is $3,800/month.

Tuesday, November 6, 2012

Analysis of Cambridge Trust

Current Price on 6th November 2012 = $0.65

  • Current Yield = 7.41%  
  • Price-to-book Ratio = 1.045
  • Assets per unit = $0.995
  • Debt per unit = $0.373 (including current liabilities)
  • Gearing = 37.4%

Cambridge Industrial Trust has reported their results earlier where yield has improved to 7.41%. With its current price, its price-to-book ratio is 1.045 which puts them at the premium zone of REITs. This is not really favourable. Gearing is at 37.4% which is quite high though but I am not too worried about it.

I am still thinking of their proposed sale earlier which did not get through because the proposed price is much higher than their current valuation. If we factor that into the statistics, their price-to-book ratio will be 0.87 which is very good considering that there are not many REITs which have such price-to-book ratio.

I am vested with 52,000 shares and I will participate in their DRP as part of my investment plan. I think its price will need to increase quite substantially before I think of offloading them.


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