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.

Monday, January 19, 2015

Analysis of Cambridge Industrial Trust

Current Price on 16th Jan 2015 = $0.685
  • Yield = 7.31%  
  • Price-to-book Ratio = 0.968
  • Assets per unit = $1.128
  • Debt per unit = $0.420 (including current liabilities)
  • Gearing = 37.2%
  • Secured NAV = $0.186 (27% of trading value)
Cambridge Industrial Trust just reported its results recently which they have continued to maintain their performance. Here are the statistics.

Yield is at a modest 7.31% which is slightly lower than most industrial REITs. Price-to-book ratio is maintained at 0.968 which is good because it is trading at a discount to NAV. Gearing is healthy and there is a secured NAV of 27% of its trading value. This means that $0.186 is secured in the worst case scenario. Not the best in the market though.

Cambridge was the first REIT that I bought when I first started investing and held on to it for the longest period which is about 5 years. I sold all my holdings sometime in 2013 as I needed the cash for something else. Today as I look at the statistics, I think there are better ones out there with higher yield and safer margin of safety like AIMSAMP Industrial REIT, and SoilBuild REIT. I am still grateful for the dividends and capital appreciation that Cambridge has given me earlier.


  1. Perhaps this can help to enhance your wealth better!

  2. hi how exact do you calculate your secured NAV? thanks.