HK REITS

[soros]

RE: HK REITS

Closing Prices on 2 Jan 2013

00435.HK - Sunlight Reit $3.28 yld 5.18%
02778.HK - Champion Reit $3.7 yld 6.05%
00808.HK - Prosperity Reit $2.35 yld 5.11%
00405.HK - Yuexui Reit $3.72 yld 7.12%
00778.HK - Fortune Reit $6.36 yld 4.14%
01881.HK - Regal Reit $2.22 yld 5.41%
00823.HK - Link Reit $38.9 yld 3.3%
87001.HK - Hui Xian Y4.15 yld 6% ( estd 26 cts div )

[soros]

Fortune Reit ( 00778.HK) has reported good final results for 2012 and raised the fin div. to HK$0.1653 per share .

DPU = 32.35 cents ( compared to 26.30 cents 2011)

Share price has climbed to $6.73 and giving a yield of 4.8%.

[edragon]

My only experience with HK reits is as follows:-

Bought 00405 GZI Reit (08.05.2009) at HK$2.12; sold 1-Jun-2009 at HK$2.37 profit 11.8%.
Currently 00405 YUEXIU REIT HK$3.96.

Lesson learned : should have kept this reit.

---

Looking through my old records; these reits were doing well in 2010-2011.

823 LINK REIT $26.95
435 SUNLIGHT REIT $2.14
808 PROSPERITY REIT $1.52

Just for ref. only.

[edragon]

Fortune smiles on REIT as strong rental growth seen

25/01/2013

Distribution per unit for Fortune Real Estate Investment Trust (0778) jumped 23 percent to 32.35 HK cents for the year ended December 31.

The higher payout was due to better asset performance, careful capital and cost management, and accretive acquisitions, chairman Justin Chiu Kwok-hung said.

Income available for distribution rose 24.2percent from 2011 to HK$549.5 million.

Total revenue and net property income climbed 22.5percent and 22.8 percent year-on- year to HK$1.11 billion and HK$788.3 million respectively.

The increase was attributed to strong rental growth, successful execution of core strategies, and remarkable return from asset enhancement of Fortune City One and Ma On Shan Plaza.

Rental increases at Fortune REIT malls will remain at about 19.8percent this year, said Chiu, adding that 40percent of rental agreements are up this year and rent hikes expected.

"We will consider projects as long as the return is reasonable," he said. "But it is difficult to find suitable malls under the current low interest rate and speculative environment." NATALIE NGAN

[shanrui_91]

you left out a REIT that I like a lot: 87001 hk - Hui Xian. Owns Beijing Oriental Plaza - one of the best pieces of commercial property in the city. 2013 yield is above 7% with almost zero gearing. Possible beneficiary of the Dynasty RMB listing in Singapore. Still more positive rental revisions on both retail and commercial.

full disclosure: I own this stock

I think hui xian reit might be something worth looking into too. Low gearing of 4% means that the dividend is unleveraged and has high potential for dividend growth through acquisition. It trades at ~15% discount to nav. Mall account for 44% of the NPI and certainly is a much higher quality assets to those in CRCT be it location or shopper traffic. But one has to look at the office, hotel market in Beijing as well which makes this REIT more hybrid than anyone else on market.

[Swinger]

Hi Shanrui_91,

I did a quick check from HKSE (below) but does not tally with the over 7% yield. Based on the latest distribution rate of 0.1178 it works out to only 5.7% yield.

Announce Year End Event Amt Ex-Date Payable Date
20/7/2012 2012/12 Interim 0.1178 6/8/2012 25/9/2012
1/3/2012 2011/12 Final 0.1064 5/3/2012 4/5/2012
2/8/2011 2011/12 Interim 0.0403 26/8/2011 15/9/2011

Issued Capital(share) 5,076,415,649
Issue Cap-H(share) N/A
Board Lot 1,000
NAV(RMB) 5.1845
EPS(RMB) 0.1637
PE 25.47
DPS(RMB) 0.1467
Yield 3.52
Price/PNAV 0.8043
Index Constituent Hang Seng REIT Index

[shanrui_91]

my rough yield calculation is also ard 5-6%, maybe objective has a lower share price that time. But the fact remains that they have a prime asset with low gearing

Hi Shanrui_91,

I did a quick check from HKSE (below) but does not tally with the over 7% yield. Based on the latest distribution rate of 0.1178 it works out to only 5.7% yield.

Announce Year End Event Amt Ex-Date Payable Date
20/7/2012 2012/12 Interim 0.1178 6/8/2012 25/9/2012
1/3/2012 2011/12 Final 0.1064 5/3/2012 4/5/2012
2/8/2011 2011/12 Interim 0.0403 26/8/2011 15/9/2011

Issued Capital(share) 5,076,415,649
Issue Cap-H(share) N/A
Board Lot 1,000
NAV(RMB) 5.1845
EPS(RMB) 0.1637
PE 25.47
DPS(RMB) 0.1467
Yield 3.52
Price/PNAV 0.8043
Index Constituent Hang Seng REIT Index

[soros]

Yuexui Reit (00405.HK) announce their final results on 14th Mar and expect to pay a fin div of 12.8 cts . The total distribution for the year is 26.49 cts ( about same as last year).
The shares closed at HK$4.21. One of the big brokers BofA-ML has a target price at $4.35

[soros]

Closing Prices on 28th Mar 2013 ( and gain during last 3 months)

00435.HK - Sunlight Reit $3.46 up 3%
02778.HK - Champion Reit $4.03 up 8%
00808.HK - Prosperity Reit $2.69 up 14%
00405.HK - Yuexui Reit $4.41 up 18%
00778.HK - Fortune Reit $6.91 up 8%
01881.HK - Regal Reit $2.48 up 10%
00823.HK - Link Reit $42.30 up 8%
87001.HK - Hui Xian Y4.08 down 1.6%.

[Madmoney]

what is their current yield ?
Langham Hospitality has just launched its IPO, setting a yield for 2013 of between 5.65 and 6.5 percent

Closing Prices on 28th Mar 2013 ( and gain during last 3 months)

00435.HK - Sunlight Reit $3.46 up 3%
02778.HK - Champion Reit $4.03 up 8%
00808.HK - Prosperity Reit $2.69 up 14%
00405.HK - Yuexui Reit $4.41 up 18%
00778.HK - Fortune Reit $6.91 up 8%
01881.HK - Regal Reit $2.48 up 10%
00823.HK - Link Reit $42.30 up 8%
87001.HK - Hui Xian Y4.08 down 1.6%.