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Cambridge Ind Trust Results Announcement
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Cambridge Industrial Trust (CREIT) declared a 2Q13 distribution per unit (DPU) of 1.24 cents (+5.1% y-o-y), in line with our FY13 forecast. Revenue for the quarter jumped 14.1% y-o-y to SGD24.6m while net property income rose 13.4% y-o-y to SGD20.8m. In view of its sturdy growth profile over the next few years, we maintain BUY on CREIT, with a higher DDM-based (COE:8.6% TGR:2.0%) TP of SGD0.81.
- Proactive reshuffling of portfolio. Since the start of the year, CREIT has completed four acquisitions, divested 30 Tuas Road and completed both the asset enhancement initiatives (AEIs) at 88 International Road and 4/6 Clementi Loop. Meanwhile, the acquisition of Teban Gardens Crescent (with an initial yield of 8.2%), sale of 63 Hillview Avenue, AEI at 21B Senoko Loop and development at 3 Pioneer Sector 3 are scheduled for completion in 4Q13, 3Q13, 1Q15 and 4Q14 respectively. This proactive re-shuffling of assets has beefed up CREIT’s portfolio as well as benefitted unitholders with a higher dividend payout and brighter outlook.
- Proposed sale of 63 Hillview Avenue. CREIT recently announced the divestment of its holdings at 63 Hillview Ave for SGD140.8m (28% higher than book value). This is a positive since the proceeds could be invested in higher-yielding assets versus the 2.3% (based on the selling price) yield from this property. Although it may be difficult to buy yield-accretive assets these days, we believe it could still be yield accretive for unitholders if the entire proceeds are used to trim outstanding debt, which currently carry an all-in cost of c. 4%. The company may also lower its overall gearing to c. 27.7% if it utilizes all of the proceeds to repay borrowings.
- Room to trim debt cost. During the results briefing, Management said it is currently in advanced talks with various banks to refinance debts amounting to SGD308m due next year. After divesting its property at Hillview and ending up with SGD140m cash in hand, we believe CREIT will be in a strong position to negotiate for a better rate and possibly lower its all-in interest cost to < 4%
July 8, 2013 Lam Soon finally soldWhile the divestment price of Lam Soon may marginally disappoint investors looking forward to its sale as a residential site, the sale should still be a positive given the greater certainty of value-unlocking in its entirety and accretion from the use of divestment proceeds.
http://www.remisiers.org/cms_images/research/Jul08-Jul12_2013/0807_CIMB_Cambridge.pdf
Distribution per unit (“DPU”) grew by 5.4% yoy from 1.171 cents to 1.234 cents for 1st Qtr 13
Occupancy rate of 98.6% with a Weighted Average Lease to Expiry (“WALE”) of 3.4 years (by income) and average security deposits of 12.7 months per tenant
ASIA PACIFIC PROPERTY CONFERENCE 2013
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_3A8128AB0B60A2ED48257B96002621AE/$file/26062013SGXCITAsiaPacPropertyconfbyCiti_HK_FINAL.pdf?openelement
Bro, did you vest during those fifty cents days?
I have let go Cambridge else the pricing reaching my break even price...
sk6666 ( Date: 01-Jun-2013 20:55) Posted:
| Bro marubozu1688, can u also comment this reit? |
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Bro marubozu1688, can u also comment this reit?
Another bad day. It drop almost 7%
I read this from my friend's
blog. He is also investor in Cambridge
Today Singapore industrial REIT drop around 7% e.g. Cambridge industrial REIT.
Fortune Reit a dual listing stock in both HK and Singapore drop nearly 7%.
The Link REIT one of the bigger commerical properties REITs in HK. It drop nearly 4%.
I invest heavily in Singapore industrial trust since 2010. I never experience such heavy drop.
Causes of correction.
1. Margin call is NOT the main reason. I confirm with my stock broker
that most REITs investors are cash rich. They buy in cash not margin
trading.
2. Profit taking. REIT perform too well recently. Any correction will trigger profit taking
3. Outlook for properties are health. However,with after Singapore
Government's cool down measures. And market is expecting that US
federal reserve may reduce size of QE. In result, Singapore properties
market will not grow as quick as past 2 years. But REITs are trading 20
to 30% above their Net asset value. They may be consider as overvalue.
Although their PE is only 10, REITs always include property value
increase as their earning. If properties price don't appreciate as quick
as last year, REITs earning will reduce. i.e. PE will go up.
http://investorsg.blogspot.sg
Return more than 6%. worth to pick the durian!!
WanSiTong ( Date: 23-May-2013 13:47) Posted:
I didn't notice that! You should instead pick the durian! Wasted !!?
stockseeker ( Date: 23-May-2013 13:24) Posted:
| Victim of shorting 'syndicate' today? Hit 0.645 by mid-day before heading back up to 0.8+!! My jaw almost dropped |
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I didn't notice that! You should instead pick the durian! Wasted !!?
stockseeker ( Date: 23-May-2013 13:24) Posted:
Victim of shorting 'syndicate' today? Hit 0.645 by mid-day before heading back up to 0.8+!! My jaw almost dropped.
Burulnakan ( Date: 23-May-2013 12:31) Posted:
| what is going on with Cambridge? Why suddenly drop to 0.8? :(
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What happen ??
WanSiTong ( Date: 23-May-2013 13:31) Posted:
| 11:08:43 |
0.800 |
3,000 |
X |
| 11:08:43 |
0.800 |
2,000 |
X |
| 11:08:43 |
0.790 |
1,000 |
Buy Up |
| 11:08:43 |
0.790 |
4,000 |
Buy Up |
| 11:08:21 |
0.755 |
3,000 |
Buy Up |
| 11:08:06 |
0.645 |
2,000 |
Buy Up |
| 11:08:05 |
0.645 |
8,000 |
Buy Up |
| 11:08:05 |
0.645 |
2,000 |
Buy Up |
| 11:08:03 |
0.745 |
14,000 |
Sell down |
| 11:08:03 |
0.790 |
1,000 |
X |
| 11:08:03 |
0.790 |
3,000 |
X |
| 11:08:03 |
0.790 |
16,000 |
X |
| 11:08:03 |
0.790 |
6,000 |
X |
| 11:07:57 |
0.800 |
1,000 |
SellDown |
| 11:07:57 |
0.800 |
10,000 |
SellDown |
| 11:07:57 |
0.800 |
10,000 |
SellDown |
| 11:07:57 |
0.800 |
2,000 |
SellDown |
WanSiTong ( Date: 23-May-2013 13:20) Posted:
| Standard & Poor's has reaffirmed the BBB-/Stable/-- credit rating of CIT in its report dated 22 May 2013. |
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|
|
| 11:08:43 |
0.800 |
3,000 |
X |
| 11:08:43 |
0.800 |
2,000 |
X |
| 11:08:43 |
0.790 |
1,000 |
Buy Up |
| 11:08:43 |
0.790 |
4,000 |
Buy Up |
| 11:08:21 |
0.755 |
3,000 |
Buy Up |
| 11:08:06 |
0.645 |
2,000 |
Buy Up |
| 11:08:05 |
0.645 |
8,000 |
Buy Up |
| 11:08:05 |
0.645 |
2,000 |
Buy Up |
| 11:08:03 |
0.745 |
14,000 |
Sell down |
| 11:08:03 |
0.790 |
1,000 |
X |
| 11:08:03 |
0.790 |
3,000 |
X |
| 11:08:03 |
0.790 |
16,000 |
X |
| 11:08:03 |
0.790 |
6,000 |
X |
| 11:07:57 |
0.800 |
1,000 |
SellDown |
| 11:07:57 |
0.800 |
10,000 |
SellDown |
| 11:07:57 |
0.800 |
10,000 |
SellDown |
| 11:07:57 |
0.800 |
2,000 |
SellDown |
WanSiTong ( Date: 23-May-2013 13:20) Posted:
Standard & Poor's has reaffirmed the BBB-/Stable/-- credit rating of CIT in its report dated 22 May 2013.
Burulnakan ( Date: 23-May-2013 12:31) Posted:
| what is going on with Cambridge? Why suddenly drop to 0.8? :(
|
|
|
|
Victim of shorting 'syndicate' today? Hit 0.645 by mid-day before heading back up to 0.8+!! My jaw almost dropped.
Burulnakan ( Date: 23-May-2013 12:31) Posted:
| what is going on with Cambridge? Why suddenly drop to 0.8? :(
|
|
Standard & Poor's has reaffirmed the BBB-/Stable/-- credit rating of CIT in its report dated 22 May 2013.
Burulnakan ( Date: 23-May-2013 12:31) Posted:
| what is going on with Cambridge? Why suddenly drop to 0.8? :(
|
|
what is going on with Cambridge? Why suddenly drop to 0.8? :(
PUBLISHED APRIL 18, 2013
CIT's Q1 DPU grows 5.4% y/y
Cambridge Industrial Trust on Thursday announced a distribution per unit (DPU) of 1.234 Singapore cents for its first quarter ended March 31, 2013, up 5.4 per cent from 1.171 cents a year ago.
" The improved performance in DPU was contributed by the additional income from the three acquisitions and completion of various developments and asset enhancement initiatives, as well as the increase in the rental from multi-tenanted properties and rental escalations," it said.
Distributable income for the quarter rose 8.4 per cent year-on-year to S$15.1 million, while net property income jumped 18.8 per cent to S$21.3 million from a year ago.
The trust also recorded higher gross revenue of S$24.8 million, up 18.6 per cent from S$20.9 million a year earlier.
If u already have odd lots den nothing to lose what. Odd lots + more odd lots still = odd lots.
Brokerage fees to exit are the same.
hawke009 ( Date: 09-May-2012 16:17) Posted:
i decide to take cash cos i also having odd lots.
SupremeA ( Date: 08-May-2012 09:01) Posted:
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i decide to take cash cos i also having odd lots.
SupremeA ( Date: 08-May-2012 09:01) Posted:
If you get odd lots how?
hawke009 ( Date: 08-May-2012 08:46) Posted:
Anyone participating in the CIT DRP?
What i syoue take?
Take cash or convert to shares units? |
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If you get odd lots how?
hawke009 ( Date: 08-May-2012 08:46) Posted:
Anyone participating in the CIT DRP?
What i syoue take?
Take cash or convert to shares units? |
|
Anyone participating in the CIT DRP?
What i syoue take?
Take cash or convert to shares units?
