It’s reporting season again. This time round, I decided to include the data from all the REIT that I hold. However, qualitatively I would still mainly focus on my core holding.
In general, I am satisfied with all the REITs that I am holding. Based on DPU, with the exception of Starhill, all have reported an increase compared to previous years. Of course, if one digs deeper into the numbers, some distribution are probably beefed up by management taking the payment by units or there is some divestment gain. Buy hey, if they are happy with that for some quarters, I am not complaining.
The table below shows their results this quarter.
A
Frasers Centrepoint Trust
As per expectation, with the completion of Northpoint City AEI, FCT continues to show strong growth in both revenue and DPU. Its price has continued to increase since my purchase last quarter. Assuming 12 cents DPU for the year, its yield has dropped to 5.3% at current price of $2.27. Do not feel compel to buy more at this level. Will continue to hold on to my current stake.
Parkwaylife REIT
Up 2.9% year on year with flat revenue growth. Parkway’s price has continued to defy gravity over the past year. At current price of $3.02, its yield has dropped to 4.1%. Very tempted to take profit but decided to hold on as it has proven its ability to increase its DPU over the years and in recent time has distributed its divestment gain twice.
C
Starhill Global
Based on cost, Starhill Global now occupies only about 4.4% of my portfolio. As such, this will probably be the last time I will feature Starhll Global as one of my core holdings. Starhill has continued to report bad number with DPU dropping by 7%, mainly dragged by Singapore office sector and redevelopment of Plaza Arcade in Australia.
There are a couple of development that will complete in first quarter of 2018. As such I am expecting another flattish or slight decline for the 2018Q3 with a rebound in 2018Q4. Holding on to my shares as I am satisfy with current 6% yield.
Towards Financial Independence 