- Yield = 6.39%
- Price-to-book Ratio = 0.909
- Assets per unit = $2.169
- Debt per unit = $0.811 (including current liabilities)
- Gearing = 37.4%
- Secured NAV = $1.142 (92.5% of trading price)
I resume researching on Keppel REIT because of its acquisition of MBFC Tower 3 and its relative high yield compared to other office REIT. So here is the statistics.
Yield is at 6.39% which is one of the highest among all the office Reits holding Singapore properties. FCOT is higher though. Moreover, they pride themselves to hold one of the youngest and most exciting properties in the Singapore's financial district. With a price-to-book ratio of 0.909, it is trading at 9% discount. Imagine buying MBFC at 9% discount? Moreover, they have a pretty high secured NAV which is 92% of its trading price. The margin of safety is also strong.
Considering that it is an office REIT which holds such assets, I think this is something worth considering (That's why I research on it). Bear in mind that they have a pretty strong rival and that is Fraser Commercial Trust.
Yield is at 6.39% which is one of the highest among all the office Reits holding Singapore properties. FCOT is higher though. Moreover, they pride themselves to hold one of the youngest and most exciting properties in the Singapore's financial district. With a price-to-book ratio of 0.909, it is trading at 9% discount. Imagine buying MBFC at 9% discount? Moreover, they have a pretty high secured NAV which is 92% of its trading price. The margin of safety is also strong.
Considering that it is an office REIT which holds such assets, I think this is something worth considering (That's why I research on it). Bear in mind that they have a pretty strong rival and that is Fraser Commercial Trust.
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