- Yield = 9.81%
- Price-to-book Ratio = 0.93
- Assets per unit = $1.464
- Debt per unit = $0.642 (including current liabilities)
- Gearing = 43.8%
- Credit Rating = BB
Viva Industrial Trust has been making a lot of news recently. They purchased two properties, have one major asset enhancement and now announcing another two acquisitions. The above statistics are an estimate which is from their recent report + proposed acquisitions, (which means it exclude the asset enhancements)
Their yield is probably the highest you can find in REIT market. Only IREIT Global is higher but Viva Industrial Trust's properties are all local so you can see the physical property plus it is easier to monitor the economic conditions as being a Singaporean, it is natural to be more aware of local conditions. Price-to-book ratio maintains at 0.93 which means we are buying at a discount. If their asset enhancement is a success, valuation may go up further. Thus, according to my indicators, they are good for long term.
One thing to note is that they need to raise cash again to purchase these properties. While I am neutral to raising cash, I don't like it to have private placement as it is not beneficial to existing investors (they did it in once this year which I manage to participate). I prefer a rights issue for all investors which is fair. This piece of news should come soon, later this month.
I am heavily vested in Viva Industrial Trust (79,100 shares worth about $60,000). Was thinking of paring it down by a bit so as to reduce exposure but then I need to wait for the right price to unload and another opportunity as well.
Their yield is probably the highest you can find in REIT market. Only IREIT Global is higher but Viva Industrial Trust's properties are all local so you can see the physical property plus it is easier to monitor the economic conditions as being a Singaporean, it is natural to be more aware of local conditions. Price-to-book ratio maintains at 0.93 which means we are buying at a discount. If their asset enhancement is a success, valuation may go up further. Thus, according to my indicators, they are good for long term.
One thing to note is that they need to raise cash again to purchase these properties. While I am neutral to raising cash, I don't like it to have private placement as it is not beneficial to existing investors (they did it in once this year which I manage to participate). I prefer a rights issue for all investors which is fair. This piece of news should come soon, later this month.
I am heavily vested in Viva Industrial Trust (79,100 shares worth about $60,000). Was thinking of paring it down by a bit so as to reduce exposure but then I need to wait for the right price to unload and another opportunity as well.
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