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19-04-2016, 10:01 AM
A drop by around 9.9% for annualized DPU yield.
10.1% drop in DPU annualized.
Quarterly drop of 11.3% for DPU.
I expect that the reit price will do a leg down to the mid 50 cents mark starting from XD date.
Sabana Real Estate Investment Management Pte. Ltd., the Manager of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (“Sabana REIT” or the “Trust”), today announced a distributable income of approximately S$9.8 million for 1Q 2016. This translates to DPU of 1.33 cents, based on approximately 735.8 million units issued and to be issued as at 31 March 2016.
On a year-on-year (Y-O-Y) basis, NPI and income available for distribution dipped by 18.4% and 24.7%
respectively, mainly due to lower gross revenue arising from negative rental revisions for certain master leases
renewals and the non-renewal of one master lease (218 Pandan Loop), higher property expenses arising from
higher service, repairs, maintenance, property tax, land rent, utilities and marketing expenses from three
properties (15 Jalan Kilang Barat, 23 Serangoon North Avenue 5 and 34 Penjuru Lane) due to the conversion into
multi-tenanted properties. In addition, there were higher property tax and land rent expenses for another three
properties (26 Loyang Drive, 30 & 32 Tuas Avenue 8 and 21 Joo Koon Crescent) from the conversion into nontriple
net master lease tenancies. All of the above conversions took place in 4Q 2015.
For 1Q 2016, Sabana REIT registered a gross revenue of S$23.6 million, which is 6.9% lower as compared to 1Q
2015’s gross revenue of S$25.4 million.
Distributable income and distribution yield in 1Q 2016 fell by 11.5% and 9.9% respectively on a quarter-on-quarter basis.
10.1% drop in DPU annualized.
Quarterly drop of 11.3% for DPU.
I expect that the reit price will do a leg down to the mid 50 cents mark starting from XD date.
Sabana Real Estate Investment Management Pte. Ltd., the Manager of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (“Sabana REIT” or the “Trust”), today announced a distributable income of approximately S$9.8 million for 1Q 2016. This translates to DPU of 1.33 cents, based on approximately 735.8 million units issued and to be issued as at 31 March 2016.
On a year-on-year (Y-O-Y) basis, NPI and income available for distribution dipped by 18.4% and 24.7%
respectively, mainly due to lower gross revenue arising from negative rental revisions for certain master leases
renewals and the non-renewal of one master lease (218 Pandan Loop), higher property expenses arising from
higher service, repairs, maintenance, property tax, land rent, utilities and marketing expenses from three
properties (15 Jalan Kilang Barat, 23 Serangoon North Avenue 5 and 34 Penjuru Lane) due to the conversion into
multi-tenanted properties. In addition, there were higher property tax and land rent expenses for another three
properties (26 Loyang Drive, 30 & 32 Tuas Avenue 8 and 21 Joo Koon Crescent) from the conversion into nontriple
net master lease tenancies. All of the above conversions took place in 4Q 2015.
For 1Q 2016, Sabana REIT registered a gross revenue of S$23.6 million, which is 6.9% lower as compared to 1Q
2015’s gross revenue of S$25.4 million.
Distributable income and distribution yield in 1Q 2016 fell by 11.5% and 9.9% respectively on a quarter-on-quarter basis.
Disclaimer :-
I am not an investment professional.
I encourage you to do your own independent "due diligence" on any idea that I write about, because I could be and probably am wrong.
Nothing written here is an invitation to buy or sell any particular stock.
At most, I am handing out an educated guess as to what the markets may do.
The market will always find a new way to make a fool out of me (and maybe, even you!).
Even the best strategies of the past fail, sometimes spectacularly, when you least expect it.
I am not immune to that, so please understand that any past success of mine will probably be followed by failures
I am not an investment professional.
I encourage you to do your own independent "due diligence" on any idea that I write about, because I could be and probably am wrong.
Nothing written here is an invitation to buy or sell any particular stock.
At most, I am handing out an educated guess as to what the markets may do.
The market will always find a new way to make a fool out of me (and maybe, even you!).
Even the best strategies of the past fail, sometimes spectacularly, when you least expect it.
I am not immune to that, so please understand that any past success of mine will probably be followed by failures