- Yield = 7.00%
- Price-to-book Ratio = 1.084
- Assets per unit = $1.157
- Debt per unit = $0.336 (including current liabilities)
- Gearing = 29.0%
Yield is at a modest of 7% which I think is quite low because most of the industrial REITs in SGX are yielding higher at 8 - 9% at least. E.g. will be AIMSAMP Industrial Trust Some also hold some Australian properties. E.g. Ascendas REIT. Price to book ratio is at 1.084 which I thought was quite expensive considering that most REIT are trading at below NAV. Gearing is at 29.0% which is low by industry standards (and that is good).
Manulife US REIT IPO has given me a lesson that even though it is priced at the top end, things may just go wrong so it fell to below IPO price. Something is wrong which I can't comprehend so I have decided to stick to the fundamentals and just look at the statistics. To be frank, it is not worth it. There are many industrial REITs that are trading at much favourable statistics currently. If you really want some Australian properties exposure, I suggest AIMSAMP Industrial Trust or Ascendas REIT. They offer higher yield and cheaper properties. I am not applying for this IPO.
*** Thank you readers for highlighting a misunderstanding while reading my blog. My bad and I have updated. :-)***
have u calculated Ascnedas REIT div yield, its yileding sub 6% and trades above NAV, yur facts above not corrcetReplyDelete
I concur. Myopic analysisReplyDelete