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CapitaLand Integrated Commercial Trust s(SGX:C38U)
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josemmm123
Master |
10-Sep-2021 18:12
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My entitlement of CICT is significant, so based on my calculation as explained, I think is worth to sell CICT to buy more CLI. I not familar with CICT. Maybe the dividend yield of CICT is favourable? Based on capital gain, CLI looks like have potential for more gain.. but dividend wise, CICT may offer more?
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Ling9345
Master |
10-Sep-2021 17:56
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I only have 18lots of capitaland, so not many CICT I have I will sell buy more for CLI | ||
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josemmm123
Master |
10-Sep-2021 17:40
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Capitaland shareholders like me are going to receive 0.155 CICT for every 1 Capitaland shares. My thought is to use the $0.951 cash + sell CICT to buy more CLI. Can anyone advise whether my logic is flaw and keeping CICT is better option or even sell CLI and buy more CICT ? My logic as follows:  Typically a Solid REIT like CICT trades somewhere from 1.05x to 1.5x NTA. Most analysts give an Target price of $2.532 for CICT for about 22% upside from the current share price of $2.05 to $2.10. Whereas for REIMS (Reits manager), the average for all the REIMS is 2.9x NTA.  So if u sell CICT at $2.05 and buy CLI at $3 (assuming you need to pay $3, although technical it should start trading at $2.82(NTA) ) Potential upside for CICT if u wait for it to hit target price is 22% Potential upside for CLI if u wait for it to hit REIMS average of 2.9x = $2.82 x 2.9 = almost $8.2 for a almost 300% upside. So one stragety is to sell CICT and buy CLI when trading starts for CLI on 20th Sept if you want to earn more for ur capital gain. BUT if u like CICT for it' s dividend or whatever reasons u might have, then sure keep the CICT, u may even consider selling CLI to buy more CICT if that is the case. All the information given above are based on ACTUAL REAL information. Sources of the above information is given below. Sources : 1) https://sginvestors.io/analysts/singapore-s-reit-target-price 2) https://investor.capitaland.com/newsroom/20210322_104741_C31_0SBERMKZPV36Z7OR.3.pdf |
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Lobster
Elite |
10-Sep-2021 14:21
Yells: "Even Adam Khoo believes in the Black Market!" |
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Yes! Just have almost four thousand bucks credited to my account. And that' s only for half financial year!
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Lobster
Elite |
10-Sep-2021 14:19
Yells: "Even Adam Khoo believes in the Black Market!" |
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Means what? At some point in time, Capitaland will sure to divest some of these to CICT.
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Lobster
Elite |
10-Sep-2021 14:16
Yells: "Even Adam Khoo believes in the Black Market!" |
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It says here
July 2014: CapitaMalls Asia (CMA) |
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invest8
Senior |
10-Sep-2021 00:12
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Interesting days ahead for CICT.. CLI need to wait till 20Sep, but the CICT show continues. 
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Lobster
Elite |
09-Sep-2021 16:31
Yells: "Even Adam Khoo believes in the Black Market!" |
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Wow, never knew I m a MASTER now!! as I said many times, this is one of the best REITS around, and potential to go very very far. I don' t think you can better opportunities now heard, CLI may add some properties to this after the demerge.
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Lobster
Elite |
09-Sep-2021 16:28
Yells: "Even Adam Khoo believes in the Black Market!" |
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Not just this, but a lot of REITS are at reentry or accumulate point again. as long as the Covid cases keep climbing, doesn' t look too good for a number of REITs, especially hospitality and commercial REITS. Anyway, here are your chances... one more time. |
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invest8
Senior |
09-Sep-2021 16:18
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Looking attractive, yummy..
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vicloo
Supreme |
09-Sep-2021 15:36
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GSS under 2 soon... Who's buying again? | ||
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moron101
Supreme |
29-Jul-2021 12:31
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Tp $2.50 is possible as institute investors cannot afford to miss out this largest REIT in SG. Buy on dips now to also get the 0.0518 dividend. Stay vested.
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paul1688
Veteran |
29-Jul-2021 12:18
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From UOBKH CapitaLand Integrated Commercial Trust (CICT SP) 2H21: Good Things Come To Those Who Wait For Re-opening We saw a turnaround on the office front for CICT with pre-commitment at CapitaSpring improving to 61.8%, although Commerzbank exercised its option for early termination at Gallileo. Phase 2 (Heightened Alert) and rental waivers incurred are temporary setbacks. CICT provides a diversified play on the re-opening of the domestic economy and will benefit as the recovery broadens to downtown malls and offices. 2022 distribution yield is attractive at 5.9%. Maintain BUY. Target: S$2.50. Remarks : Sharing. Not enticement to buy. Pls DYODD |
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uiop1223
Supreme |
20-Jul-2021 20:48
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Tml shld down again due to phase 2 | ||
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Lobster
Elite |
20-Jul-2021 20:38
Yells: "Even Adam Khoo believes in the Black Market!" |
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If anyone is interested to invest in REITS but don' t know when... well, it is during crisis and depressed time that you' ll have that opportunity. And every few years will come that time. my strategy is always buy when the stock is highly depressed, and sell half when it reaches inear its highs. And so with the collected handsome dividends every year, when the next round of opportunity comes, I will be ready to reboot again. Many of my REITS, the costs up to now are lower than their all time lows. Hard. To believe, but it' s true. I know of many bros haveing the same comments and sentiments. This particular REIT cost is well below a dollar. |
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royeko
Member |
20-Jul-2021 18:02
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CICT' s price for the next few days will be suppressed by both the " Return to Phase 2" and Wall street sell-off" effects. Hopefully the " impending dividend payout" effect will help to bolster a bit. |
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Lobster
Elite |
19-Jul-2021 01:27
Yells: "Even Adam Khoo believes in the Black Market!" |
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Seriously, if you are invested in a stock, you should follow its development and movement and corporate announcements, if any, closely. Following is a post I made in another thread, on a similar question. By the way, Half yearly results and report (and of course, announcement of next dividends payout) will be on the 28 July 2021....
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moron101
Supreme |
18-Jul-2021 14:40
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Cannot be. Have already half a year never given any liao. 👍 👍
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XiaoFeiXia
Senior |
18-Jul-2021 13:58
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Looks like No dividend for July announcement.....:( | ||
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Joelton
Supreme |
07-Jul-2021 09:40
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Should CICT and MCT swop some of their local offices for properties in London?
SUNTEC Real Estate Investment Trust (Suntec Reit) has been busy buying office assets in the United Kingdom.
On June 29, the trust' s manager announced the purchase of a Grade A office building with ancillary retail, The Minster Building, located in the City of London for an agreed property value of £ 353 million (S$667.2 million).
And in December, Suntec Reit completed its maiden acquisition in London of a 50 per cent interest in two Grade A office buildings with ancillary retail for an agreed property value of £ 430.6 million. Dubbed the Nova Properties, they are situated opposite London' s Victoria station.
Meanwhile, Suntec Reit has been reducing its exposure to the Singapore office segment.
In June, the trust announced divestments of a 30 per cent stake in 9 Penang Road at an agreed property value of S$295.5 million and 78,491 sq ft of Suntec City Office strata units at an agreed property value of S$197 million. Proceeds from these sales will help fund the purchase of The Minster Building.
Suntec Reit' s moves to increase its exposure in London and lower it in Singapore make sense from a numbers perspective. Unitholders may also be pleased that the trust' s foray into London has not involved any new issue of units.
The office spaces at Suntec City are being sold at a net property income (NPI) yield of 3.1 per cent for a divestment gain of S$13.9 million.
The stake at 9 Penang Road is being sold at NPI yield of 3.3 per cent on a stabilised basis. Suntec Reit is part of the joint venture that redeveloped 9 Penang Road, where Swiss Bank UBS has fully leased both office towers. The sale by the trust is at a premium of 30.3 per cent to the total development cost of S$756.0 million, and it will realise a divestment gain of S$66.5 million.
As for The Minster Building, the NPI yield is 4.5 per cent. The pro forma financial effect of acquiring The Minster Building is an uplift to Suntec Reit' s distribution per unit in FY2020 of 3.6 per cent, assuming the acquisition was completed on Jan 1, 2020 and funded with proceeds from the 9 Penang Road and Suntec City divestments, Sterling-denominated loans and perpetual securities.
The Minster Building sits on a land lease with 968 years remaining and has a weighted average lease expiry of 12.3 years. In contrast, 9 Penang Road and Suntec City Office sit on much shorter 99-year land leases that commenced in 2016 and 1989, respectively.
The Nova Properties were acquired at an NPI yield of around 4.6 per cent and sit on a land lease with about 1,041 years outstanding.
Debt costs in the UK and Singapore are fairly comparable. The borrowing costs of Elite Commercial Reit, which owns only UK assets, are 1.9 per cent per annum. Frasers Centrepoint Trust, which owns only Singapore assets, has borrowing costs of 2.2 per cent per annum.
The risk-free rate as represented by 10-year government bond yields is lower for the UK compared with Singapore - at around 0.7 per cent and 1.5 per cent per annum, respectively.
Compelling proposition
By diversifying into London, Suntec Reit is therefore securing better entry yields, a better yield spread to the risk-free rate, and property with a longer outstanding land lease tenure but still within an established international business city - a compelling proposition.
Reit investors are typically hungry for yield. Suntec Reit' s swapping of some Singapore assets for London assets appears to be the right call.
Post these latest transactions, Singapore will still account for just over 70 per cent of Suntec Reit' s portfolio value. The manager has targeted for overseas assets to account for 30 to 40 per cent of portfolio value.
How will this shift affect investors' opinions of Suntec Reit?
Investors have historically showed a preference for commercial Reits that are Singapore-centric. CapitaLand Integrated Commercial Trust (CICT) and Mapletree Commercial Trust (MCT) trade at premiums to their book values.
But high-quality office and retail assets in Singapore are tightly held, and yields on transacted prices are low.
Should CICT and MCT follow the lead of Suntec Reit and increase their overseas exposure to give investors better returns?
These Reits can afford to make large overseas acquisitions while still keeping a strong Singapore flavour. For CICT, 96 per cent of a portfolio valued at S$22.3 billion as at end-2020 was made up of Singapore assets. Another 4 per cent came from German assets. MCT' s portfolio of assets worth S$8.7 billion as at March 31, 2021 comprises solely Singapore assets.
Investors who have been drawn to CICT and MCT for exposure to high-quality Singapore commercial assets may not mind that these trusts make some yield-accretive acquisitions of high-quality overseas assets.
Growing a presence in the vibrant business hub of London to add geographic diversification, bump up distribution to unitholders and lengthen the tenure of land lease outstanding can be a strategy worth pursuing for CICT and MCT.
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