Basic Profile & Key Statistics
Key Indicators
Performance Highlight
Rental Reversion
Acquisition
Related Parties Shareholding
- REIT Sponsor's Shareholding: Favorable
- REIT Manager's Shareholding: Favorable
- Directors of REIT Manager's Shareholding: Less Favorable
Lease Profile
- Occupancy: Moderate
- WALE: Moderate
- Highest Lease Expiry in 4 Years: Favorable
- Weighted Average Land Lease Expiry: Favorable
Debt Profile
- Gearing Ratio: Moderate
- Cost of Debt: Moderate
- Fixed Rate Debt %: Favorable
- Unsecured Debt %: Favorable
- WADM: Moderate
- Highest Debt Maturity in 4 Years: Favorable
- Interest Coverage Ratio: Favorable
Diversification Profile
- Top Geographical Contribution: Favorable
- Top Property Contribution: Less Favorable
- Top 5 Properties' Contribution: Less Favorable
- Top Tenant Contribution: Less Favorable
- Top 10 Tenants' Contribution: Less Favorable
Key Financial Metrics
- Property Yield: Less Favorable
- Management Fees over Operating Distributable Income: Less Favorable
- Operating Distributable Income on Capital: Moderate
- Operating Distributable Income Margin: Moderate
- Operating Distribution Proportion: Less Favorable
DPU Breakdown
- TTM Distribution Breakdown:
- 82.7% from Operation
- 17.3% from Management Fees Paid in Units
Trends (Up to 10 Years)
- Uptrend: Operating Distributable Income over Manager's Fees, Operating Distributable Income Margin
- Flat: Operating Distributable Income on Capital
- Slight Downtrend: Committed Occupancy
- Downtrend: DPU from Operations, NAV per Unit, Adjusted Interest Coverage Ratio, Property Yield, Operating Distribution Proportion
Price Range & Relative Valuation Metrics
- Dividend Yield: Average for 1y & 3y
- P/NAV: Average for 1y & 3y
Author's Opinion
The performance is similar to the previous quarter. For debt, there is no debt maturity until 2027.
For more information, check out:
SREITs Dashboard - Detailed information on individual Singapore REIT
SREITs Data - Overview and details of Singapore REIT
REIT Review - List of previous REIT review posts
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*Disclaimer: The information presented on this blog is for educational and informational purposes only. The materials, including research and opinions, are based solely on my findings and should not be considered professional financial advice or a definitive statement of fact. I cannot guarantee the accuracy, completeness, or reliability of the information provided. I shall not be held liable for any errors, omissions, or losses that may occur as a result of using the information presented on this blog. It should be noted that the information presented on this blog does not constitute a buy, sell, or hold recommendation for any security. It is crucial to conduct your own thorough research and due diligence before making any investment decisions.
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