Basic Profile & Key Statistics
Key Indicators
Performance Highlight
Rental Reversion
Shopper Traffic & Tenant Sales
Divestment
Related Parties Shareholding
- REIT Sponsor's Shareholding: Favorable
- REIT Manager's Shareholding: Favorable
- Directors of REIT Manager's Shareholding: Moderate
Lease Profile
- Occupancy: Moderate
- Income Received in SGD/Major Currencies: Less Favorable
- WALE: Less Favorable
- Highest Lease Expiry in 4 Years: Less Favorable
- Weighted Average Land Lease Expiry: Less Favorable
Debt Profile
- Gearing Ratio: Moderate
- Cost of Debt: Moderate
- Fixed Rate Debt %: Favorable
- Unsecured Debt %: Favorable
- WADM: Favorable
- Highest Debt Maturity in 4 Years: Favorable
- Interest Coverage Ratio: Moderate
Diversification Profile
- Top Sector Contribution: Favorable
- Top Geographical Contribution: Less Favorable
- Top Property Contribution: Less Favorable
- Top 5 Properties' Contribution: Less Favorable
- Top Tenant Contribution: Favorable
- Top 10 Tenants' Contribution: Favorable
Key Financial Metrics
- Property Yield: Less Favorable
- Management Fees over Operating Distributable Income: Favorable
- Operating Distributable Income on Capital: Moderate
- Operating Distributable Income Margin: Favorable
- Operating Distribution Proportion: Moderate
DPU Breakdown
- TTM Distribution Breakdown:
- 95.6% from Operation
- 4.3% from Management Fees Paid in Units
- 0.2% being Retained
Trends (Up to 10 Years)
- Uptrend: DPU from Operation, NAV per Unit
- Flat: Operating Distributable Income over Manager's Fees, Operating Distribution Proportion
- Slight Downtrend: Committed Occupancy
- Downtrend: Adjusted Interest Coverage Ratio, Property Yield, Operating Distributable Income on Capital, Operating Distributable Income Margin
Price Range & Relative Valuation Metrics
- Dividend Yield: Average for 1y; Above +1SD for 3y, 5y & 10y
- P/NAV: Average for 1y; Below -1SD for 3y & 5y; Below -2SD for 10y
Author's Opinion
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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