A good quarter for the 6 REITs that I am holding. All of them reported improved metrics all round. With the price of REITs at all time high this year, management has taken the opportunity to raise fund for expansion. Thus far this year I participated in CRCT, KDC and MCT preferential offers. Besides the PO, I have also purchased more MINT, MCT, CRCT and KDC from the market in the last quarter.
However, last week I have trimmed some of my top holdings due to some repositioning and categorisation of current assets. Nonetheless, based on current values, the 6 REITs will continue to take up about 30% of my new 2020 portfolio.
Frasers Centrepoint Trust 2019 Q4 [6.9%@$2.10]
Another year of DPU growth for FCT. The growth rate has definitely slowed as compared to early years but nonetheless, it’s still quite an achievement.
I have just recently trimmed my holdings and is unlikely to add more in the near future.
Mapletree Industrial Trust 2019/20 Q2 [5.1%@$2.08]
The above image said it all. MINT continues to grow its DPU over the years. Late to the game as I only bought in early 2018 but am definitely a happy owner since then. MINT has continued to rejuvenate its portfolio and with the latest development, data centre will take up 31.5% of the portfolio. And this is set to grow further with the redevelopment of Kolam Ayer 2 from 2H2020.
I have just recently trimmed my holdings and am unlikely to add more in the near future.
Parkwaylife REIT 2019 Q3 [4.8%@$2.32]
Another steady quarter with DPU up by 1.9% due to continued growth in revenue and net profit. I have nothing to add to whatever that is presented.
I have just recently trimmed my holdings and am unlikely to add more in the near future.
Mapletree Commercial Trust 2019/20 Q2 [4.1%@$1.65]
Another good quarter with growing revenue, net income and DPU. While shopper traffic and tenant sale dipped in the last quarter, management has guided momentum picking up after opening of new stores in Q2 and commencement of NTUC in August. Will continue to monitor and expect it will improve in Q3 and/or Q4.
MCT will be issuing its preferential offering at $2.24. A tad higher than what I would have preferred but nonetheless still a good discount to current price of $2.3+. Using the pro forma DPU of 9.51 cents, the PO price offers a 4.2% yield. Not that attractive if compared to the 5+% yield obtained in my earlier purchase but not too bad when considering the potential increase in future.
I will subscribe to my allocation for the PO and apply for excess too.
CapitaLand Retail China Trust 2019 Q3 [3.7%@$1.50]
Another good quarter with increase in both top, bottom lines and DPU (excluding capital distribution last year). Not only that rental revision, total tenants’ sales and portfolio shopper traffic have all increased in Q3.
Now awaits the management to make good the recent acquisition of CapitaMall Xuefu, CapitaMall Aidemengdun and CapitaMall Yuhuating to raise its DPU further.
I am likely to add more in the coming weeks as I adjust my portfolio.
Keppel DC REIT 2019 Q3 [3.3%@$1.59]
My second distribution from KDC and DPU increased by 4.3% to 1.93 cents despite the slight drop in net property income by 1.8%. I reckon the cash flow has allowed them to give out the higher DPU.
In the last quarterly report, I mentioned that the REIT has potential for further growth and in less than 3 months, it has proven me right with its latest acquisition.
I probably will not be adding any more of this counter this year. Will wait for next year to decide if I would add more..
Towards Financial Independence 