Current Price on 17th Feb 2012 = $0.79
- Current Yield = 9.71%
- Price-to-book Ratio = 0.985
- Assets per unit = $1.056
- Debt per unit = $0.249 (including current liabilities)
- Gearing = 23.6%
- Secured NAV = $0.064 (8.5%)
First REIT earlier has reported its results which has given me new reasons to look into it again. With a current yield of 9.71% (including distribution of their capital earnings), it is quite attractive as it is one of the highest yielding REIT (especially with the increase in price in the recent rally.)
The only issue which I have with First REIT is its price-to-book ratio is 0.985 which is quite close my threshold of 1. This means that its trading price is very close to its NAV price which I don't favour. I need more reasons to believe that it is good, strong and stable (which it has been actually.)
First REIT has not moved up significantly compared to the other REITs and ST Index in general. It depends on how you look at it. Either it is fully-valued, or it is slow to start to move up. Will analyze more as time goes by
The only issue which I have with First REIT is its price-to-book ratio is 0.985 which is quite close my threshold of 1. This means that its trading price is very close to its NAV price which I don't favour. I need more reasons to believe that it is good, strong and stable (which it has been actually.)
First REIT has not moved up significantly compared to the other REITs and ST Index in general. It depends on how you look at it. Either it is fully-valued, or it is slow to start to move up. Will analyze more as time goes by
No comments:
Post a Comment