Current Price on 18th Jan 2013 = $1.185
- Current Yield = 8.14%
- Price-to-book Ratio = 1.082
- Assets per unit = $1.801
- Debt per unit = $0.706 (including current liabilities)
- Gearing = 39.2%
Sabana REIT has reported its results which cause it to rise 3 cents on 18th Jan to $1.185. It pushes the yield to 8.14% which satisfy my criteria. But the price-to-book ratio is 1.082 which I don't really understand why because there are other REITs which are trading at lower yield but at the same ratio. Gearing is at 39.2% which is close to the 40% threshold.
Sabana REIT has the second highest yield, losing only to Religare Health Trust. But if you omit RHT which has its assets in India (and I consider it high risk), they are the best. And the third in line is Cambridge Industrial Trust which is about 1% away from Sabana REIT. Thus, from my point of view, it is the most attractive REIT at the moment (and for a while already).
My only concern is its Price-to-Book Ratio which I am still figuring out why it is the case. Maybe the next valuation report will shed more light to it.
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