Tag Archives: Funds

Trusts’ resilience boosts Reit index

Posted on 28 Jul 2009 | Comments Off on Trusts’ resilience boosts Reit index

INVESTORS are heaving a sigh of relief – and putting some money back into the stock market – following better-than-expected results from some real estate investment trusts (Reits).

The FTSE ST Real Estate Investment Trusts Index has risen by almost 4 per cent on heavier trading volume since Reits started posting results a week ago. It closed at 494.82 yesterday.

Generally, results released so far ‘are either in line, if not slightly above’ expectations, said DBS Vickers analyst Lock Mun Yee.

Despite concerns about falling rents and occupancies in the office sector for instance, CapitaCommercial Trust (CCT) and K-Reit Asia have managed to post year-on-year increases in distributable income and distribution per unit (DPU) for their latest financial quarter.

CCT’s operating results exceeded the expectations of OCBC Investment Research analysts Meenal Kumar and Foo Sze Ming. It was ‘able to achieve new rents 45 per cent higher than previously signed rents, despite the 17.5 per cent quarter-on-quarter decline in Grade A office rent in 2Q 2009′.

Some retail Reits also displayed resilience amid the recession. Frasers Centrepoint Trust, which manages a portfolio of suburban malls, achieved a slightly higher DPU for the last financial quarter compared with a year ago. Continue reading →

Comments Off on Trusts’ resilience boosts Reit index

Posted in Funds

Tagged

Some S’pore-listed REITS maintained or raised payouts

Posted on 25 Jul 2009 | Comments Off on Some S’pore-listed REITS maintained or raised payouts

DESPITE the economic recession weighing on the property market, some Singapore-listed real estate investment trusts (Reit) that posted their results yesterday maintained or raised their payouts for the quarter ended June compared to a year ago.

CapitaRetail China Trust

Distribution per unit (DPU) in the second quarter rose 14.1 per cent from a year earlier to 1.94 cents. Distributable income was $12 million, up 14.2 per cent on-year.

Net property income grew 5.8 per cent on-year. The Reit said it retained $0.8 million of the actual income available for distribution in a move to be prudent. 938LIVE

Frasers Centrepoint Trust

DPU rose 3 per cent on-year to 1.94 cents. The shopping mall trust’s net property income for the quarter grew 4 per cent from a year ago to $14.7 million.

As enhancement works at the Northpoint mall are ending soon, the Reit said it expects the changes to increase Northpoint’s average rent and full-year net property income by 20 per cent and 30 per cent respectively.

First Reit

The healthcare trust’s DPU edged up 0.5 per cent from a year ago to 1.92 cents. Distributable income rose 1.5 per cent to $5.3 million.

The Reit expects private nursing care demand to grow as the Government moves to allow MediSave to be used for palliative care.

Mapletree Logistics Trust

The quarter’s DPU slumped to 1.48 cents, down by over 27 per cent from 2.04 cents in the same period last year. This was “due to additional units arising from the rights issue in Aug 2008″, said the trust.

Distributable income rose about 27 per cent from a year ago to $28.7 million, while net property income jumped 19 per cent to $45.7 million.

Ascott Residence Trust

The serviced apartment Reit’s second-quarter DPU slid 18 per cent from a year ago to 1.79 cents. It said weaker demand in Singapore and China, as well as increased competition from new supply in Beijing and Shanghai, caused total distributable income to fall 17 per cent on-year to $11 million.

Source : Today – 24 Jul 2009

Comments Off on Some S’pore-listed REITS maintained or raised payouts

Posted in Property Market / Real Estate

Tagged