- Yield = 8.71%
- Price-to-book Ratio = 0.718
- Assets per unit = $2.916
- Debt per unit = $1.409 (including current liabilities)
- Gearing = 48.3%
Dasin Retail Trust is one of my closely-watched counter. Ever since my previous purchase of 80,000 shares, the price has gone up and I have received dividends from them. With the recent results, it still looks attractive.
With the current yield of 8.71%, it is one of the highest yielding REIT in SGX although it functions as a Trust. Moreover, it is trading at price-to-book value of 0.596 which means we are buying at 40% discount to its valuation which is very attractive. The drawback is that its properties are in China which means we are exposed to China risk. Gearing is also at a high of 48.3%.
Their properties are currently at 100% occupancy which means if they were to grow the trust, they need to buy more properties. To buy more properties, they will probably need to issue new units which is not favourable unless they are able to buy at steep discounts to valuation, like what they did previously.
I am vested with 80,000 shares, enjoying the upcoming dividend of $3,300. And I am holding on to this. In fact, I am considering to buy more.
With the current yield of 8.71%, it is one of the highest yielding REIT in SGX although it functions as a Trust. Moreover, it is trading at price-to-book value of 0.596 which means we are buying at 40% discount to its valuation which is very attractive. The drawback is that its properties are in China which means we are exposed to China risk. Gearing is also at a high of 48.3%.
Their properties are currently at 100% occupancy which means if they were to grow the trust, they need to buy more properties. To buy more properties, they will probably need to issue new units which is not favourable unless they are able to buy at steep discounts to valuation, like what they did previously.
I am vested with 80,000 shares, enjoying the upcoming dividend of $3,300. And I am holding on to this. In fact, I am considering to buy more.
yeah man, and the unit price is doing well even with the market slump
ReplyDeleteThe problem of this counter is its financial engineering
ReplyDelete