- Yield = 9.62%
- Price-to-book Ratio = 0.824
- Assets per unit = $1.526
- Debt per unit = $0.642 (including current liabilities)
- Gearing = 40.7%
With a yield of 9.62%, it is one of the highest pure Singapore REIT, although now Sabana REIT has higher yield at 10%. Its price-to-book ratio is at 0.824, which means we are buying at 18% discount which is not bad. Gearing is at a pretty high rate of 40.7%.
Viva Industrial Trust has been expanding aggressively at a time where times are uncertain which is definitely unusual. Definitely, the risks are much higher now and it shows in the yield and trading price. Well, I am vested with 79,100 shares (I did not subscribe to their preferential offering) and I will need to ride it through with them.
One potential capital appreciation is a potential buyout by a third party as it is relatively cheap and small which makes it a target just like Saizen REIT. If Saizen REIT, which in my opinion is probably one of the weakest REIT, can be acquired at NAV price, I believe any small REIT can be a potential target. Let's see whether are there any surprises for small REITs.
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