- Yield = 7.97%
- Price-to-book Ratio = 0.965
- Assets per unit = $1,217
- Debt per unit = $0.502 (including current liabilities)
- Gearing = 41.2%
- Secured NAV = $0.548 (78% of trading price)
Soilbuild Business Space REIT has been in the limelight for the wrong reasons. Firstly, one of their tenants could not pay rent so income is impacted. Moreover, one of their properties is still almost vacant and it is affecting income and also underlying value. Let's take a look at the statistics.
Yield is currently at 7.97%. It is supposed to be higher but their DPU dropped by quite a bit comparing to the previous quarter so it is a concern. Price-to-book ratio is at a good 0.965 which means we are buying at a 3.5% discount. Not a lot but not so bad either. Gearing is at 41.2% which does not allow any inorganic growth. It has secured NAV which is close to 80% of their trading price. It serves as a margin of safety although not really safe either.
I am vested with 100,000 shares which I intend to hold and it gives pretty high yield relatively. However, things are getting tricky now and I am not sure whether the DPU will continue to drop. Hope that it is not as much. Not exciting but not worth to change as well.
Yield is currently at 7.97%. It is supposed to be higher but their DPU dropped by quite a bit comparing to the previous quarter so it is a concern. Price-to-book ratio is at a good 0.965 which means we are buying at a 3.5% discount. Not a lot but not so bad either. Gearing is at 41.2% which does not allow any inorganic growth. It has secured NAV which is close to 80% of their trading price. It serves as a margin of safety although not really safe either.
I am vested with 100,000 shares which I intend to hold and it gives pretty high yield relatively. However, things are getting tricky now and I am not sure whether the DPU will continue to drop. Hope that it is not as much. Not exciting but not worth to change as well.
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