Sell @ $0.715
Jump-Q at 5pm matching to clear my last lots. Refer to previous post on reasons… 😀
A-HTrust @ $0.715
Sell @ $0.715
Not fully done, left one batch + 200 shares due to jokers transacting in 100 shares throughout the whole day… 😀
Changed my mind to hold for longer term after seeing the weaker results of CDL HTrust, FE-HTrust & FHTrust. Revenue from Singapore Hotel assets were lower by -10+ yoy, Australia assets did well but Revenue were ~6% lower due to weaker A$. The bright spot was Japan but Revenue ended up only +6% higher due to weaker JPY.
- CDL H-Trust : Gross Rent yoy
- Singapore -13%
- Australia -6.1%
- FE-HTrust : RevPAR -11% yoy (Singapore)
- FHT : Listed on 14-Jul-14
- Japan NPI +6% vs IPO Forecast
- Singapore & Australia Assets includes Serviced Apt
A-HTrust assets are Australia (63%), Singapore (15%), Japan (16%) & China (6%) by NPI. Assuming similar performance as the other 3 REITs, A-HTrust DPU will not be as badly impacted as Singapore assets forms a smaller portion. Further, the positive from the end of CCS unwinding will mitigate the negatives.
My projected DPU is now lower at 2.73ct to 2.8ct, giving a Yield @ $0.715 = 7.63% to 7.83%, improving to 8.34% to 8.57% in next HY (Sep) when we see the full impact of the CCS unwinding.
Still, I have decided to take profit first…
A-HTrust @ $0.695
A-HTrust @ $0.69
Buy @ $0.69
During the last minute, was alerted by LS that it was being done at 69ct. But, during 5pm matching, it was mostly steady at 69.5ct. Decided to buy some to avg up and was pleasantly surprised to see it matched at 69ct… must be a last second thing as I was watching and didn't see it change… 😀
But, note that A$ had weakened -6.3% fm end-Sep to end-Mar ie. 2H DPU will be impacted. My projected 2H DPU is 2.785ct to 2.84ct, taking into account only A$ impact (only 63% by NPI are Australia assets and my more conservative estimate may allow for lower occupancy in other countries' assets, especially Singapore) and CCS unwinding, giving a minimum annualised Yield of 8% and increasing to 9% for next HY when CCS unwinding impact is removed for the whole HY.
A-HTrust @ $0.68
A-HTrust @ $0.685
A-HTrust @ $0.695
Sell @ $0.695
Cleared my only batch to free up cash. STI is weak, following US drop on Friday, due to stronger than expected Jobs data… mkt fears Rate Hike will be sooner than expected… On a day of many weaker REITs, A-HTrust was strong… Very likely accumulation on-going by a Fund, since last Friday… 😀
A-HTrust @ $0.69
Buy @ $0.69
Re-entering into A-HTrust. The trigger is the Q3 (Dec-14) results released on 6-Feb, which stated that "the unwinding of CCS was completed on Oct-14". For reference DPU = 1.3ct (1.57ct w/o CCS). This gives an annualised Yield = 7.536% / 9.1% (no CCS). As DPU are paid on a semi-annual basis, I'd project next payout, Q4 (Mar-15) = 1.3ct + 1.57ct = 2.87ct or Yield = 8.32%. The Yield = 9.1% would only be attainable for Q2 (Sep-15) payout.
However, take note that A-HTrust assets are mostly overseas (85%) and the strong S$ will be punitive to the DPU. Further, A-HTrust mgmt don't have a good track record (with me), having done previous acquisitions which resulted in Share Price declines… so, have to be very watchful… 😀
A-HTrust @ $0.715
Sell @ $0.715
After yesterday's bad experience of my sell order being partially done, I put in my Sell Q early in the AM.
No more left… This is my 2nd time to divest after they did a Private Placement… This time round, the discount given to Placees wasn't too huge (Value Destruction suffered by existing shareholders is proportional to discounts given in Private Placements) but in their SGX Annc, their computation of the Advanced DPU included an additional expense item due to unwinding of CCS (Cross Currency Swaps). This have the impact of reducing Yield by ~1% and it was also stated that there are more CCS to unwind in the coming months.
Although the Yield will still be quite ok at 7.5% to 7.8% (my own estimates), I have decided to fully divest till figures are available in the coming months to provide me with better certainties.. Will likely take another couple of Qs at least..
Note : What I'm practising is… If it keeps me awake ie uncertainties, just move on.. ie. divest… There're lots of other stocks out there to switch over to.. 😀
A-HTrust @ $0.715
Sell @ $0.715
Q'd whole day and only 1 lot done at 5pm. 10 more lots were done during 5pm matching despite someone doing a Jump-Q to sell 10 lots. Will have to pay min. comms of $25… 😀
This is being sold at a loss but will have profits if I were to include the Advanced DPU. My plan is to divest my entire stake as I don't quite like the extra expenses due to their unwinding of the Currency Swaps, as mentioned in a recent announcement for the Advanced DPU (due to Private Placement to fund acquisition of a Japan asset).