It has been a busy month for me at work, so I have little energy to plough through the earnings. Headlines look good though with most of the counters reporting improving results. For this post, I will be highlighting the performance of the key counters in my portfolio and also update some actions that I have taken over the past two weeks.
iFAST reported another good quarter
The positive is its record AUA, strong growth in net recurring revenue and net profit. Not as good is the lower growth in its non-recurring revenue and lower net profit as compared to Q1. All in all, I am satisfied with the business progress but am wary of the tough comparable that it will face in the second half of the year.
As such, I have further trimmed my stake at around $8.83. It remains the top counter in my portfolio with a position size of about 9%. While the counter has retreated further during the week, I am not ready to buy back at this moment yet. Will wait for its next quarter’s results before taking any further action.
Average price since first purchase 4 years ago: $1.00
Parkwaylife renewed its lease for Singapore hospitals
With a 20-year lease extension and the right of first refusal to Mount Elizabeth Novena Hospital, the Reit is likely to continue its slow and steady growth. It reported a muted 0.7% growth in its DPU for the latest quarter. Annualising its 1H DPU, I am expecting 13.9 cents DPU for the year which provides a mere 3% yield. Despite that, I decided to add a bit more at $4.73 as I treasure its stability, steady performance and possible ad-hoc special dividend from its divestment.
Average price since first purchase 6 years ago: $2.70
Mapletree Industrial Trust completed its acquisition of US Data Centres
MINT reported an increase in DPU by 17% for the quarter to 3.35 cents. Annualising it, that provides a current yield of about 4.6%. With the recent completion of its acquisition of the 29 data centres in US, I am expecting continued increase in its DPU for the coming year. As such, I have added a bit more at $2.88 over the past week.
Average price since first purchase 3 years ago: $2.22
Keppel DC sets to expand in China
KDC posted a 13% increase in its DPU for the half year and surprised with its announcement of acquisition of first data centre in China. With the right of first refusal for another 5 DC, it looks set to expand its footprint in China for the next few years. Thus far, the transition in CEO seems pretty smooth. In my radar to add more in the coming months.
Average price since first purchase 2 years ago: $1.58
CapitaLand China Trust first maiden contribution from Business Park
CLCT reported a 40% increase in DPU to 4.23 cents. That gives an annualised yield of 6.1% at current price of $1.38. It has improved its occupancy for both retail malls and business parks. DPU looks set to increase as it continues its transformation in the next few years. I might add more in the coming months.
Average price since first purchase 2 years ago: $1.32
Apple announced another monster quarter
The 2.4-trillion cap company is on fire with double-digit growth in all products. It’s just the start of 5G and with more installed base, its services has a long tail wind. While I think its product is not as differentiated as before, I stand by its quality and ease of use. An Apple convert, it’s hard for me to switch back to Windows. Coming quarter it might face a bit more pressure with chip shortage but long term I believe it will continue to do well.
Not adding more for the moment and will let the current stake continues to grow until Apple hits the 10-trillion cap.
Average price since first purchase 2 years ago: US$64
Shopify continued its amazing growth
Revenue exceeds 1 billion in a single quarter for the first time. Its strategies seem to be working as GMV continues to grow quarter after quarter. There’s a huge runway for Shopify and it probably has reached a scale such that it is going to propel it to be even larger.
Similar to Apple, I am not adding more for the moment and will just hold on to the current stake to participate in its growth.
Average price since first purchase 1 year ago: US$844