Buy @ $0.775
Add back to my portfolio. The last time I was vested was just after IPO, taking advantage (and of course risk) during the 30-Days Stabilising Period that the Stabilising Mgr will provide price support. 😀
As part of my studies for AIMSAMPReit as a potential ‘Special Situation’ play (due to their heavily discounted Rights Issues of 7-for-40 @ $1.08), SB REIT had caught my attention in the Industrial REITs comparison table,
|
Industrial REITs |
|||||
|
REIT |
Price |
Yield |
Gearing |
NAV |
|
|
VIT |
$ 0.760 |
8.943% |
38.8% |
$ 0.750 |
1.3% |
|
Sabana |
$ 1.020 |
8.520% |
36.9% |
$ 1.070 |
-4.7% |
|
AIMSAMPI Reit |
$ 1.340 |
8.269% |
26.5% |
$ 1.518 |
-11.7% |
|
SB REIT |
$ 0.780 |
7.679% |
29.3% |
$ 0.800 |
-2.5% |
|
CLT |
$ 1.110 |
7.638% |
29.1% |
$ 0.980 |
13.3% |
|
MIT |
$ 1.350 |
7.437% |
36.3% |
$ 1.110 |
21.6% |
|
AIMSAMPI Reit |
$ 1.340 |
7.376% |
34.3% |
$ 1.443 |
-7.1% |
|
MapletreeLog |
$ 1.040 |
7.077% |
33.9% |
$ 0.910 |
14.3% |
|
Cambridge |
$ 0.715 |
6.941% |
28.7% |
$ 0.695 |
2.9% |
|
Ascendasreit |
$ 2.210 |
6.407% |
30.1% |
$ 1.945 |
13.6% |
|
Colour Code |
|
|
Gearing |
NAV |
|
< 30% |
> 10% Discount |
|
30% to 35% |
< 10% Discount |
|
N A |
< 10% Premium |
|
> 35% |
> 10% Premium |
Note that SB REIT had recently announced an acquisition that’ll be funded by debts. This will result in better DPU (Yield) but also Higher Gearing (my Est is >30%). The bigger risk (besides Industrial Assets) is that being newly listed, there’s no track record for us to refer to ie. how shareholder friendly or unfriendly…
BTW, AIMSAMPReit “Special Situations” didn’t materialise… Let’s see if it resurfaces during the coming Quarterly Reporting… assuming DPU drops substantially due to the enlarged Share Base (from Rights Issue)…