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Time to internalize Manager
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Smallinvestor
Senior |
15-May-2025 09:04
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Esr reit price keep going down. Even now dpu got over 10%, price still go down. Consolidation got use? Hmmmmm. | ||||
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MrBear12
Supreme |
11-May-2025 13:23
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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Yes, ESR REIT is managed by an external manager. Specifically, it is overseen by ESR REIT Management (S) Limited, which operates as an independent management company handling the REIT's portfolio. In Singapore, it is standard practice for listed REITs to appoint external managers rather than adopting an internal management model. This setup?where the manager is a separate legal entity from the sponsor?helps ensure professional, unbiased management of the trust?s assets, even though there is often a close relationship between the sponsor and the management team.
To illustrate further, recent examples in the market have sparked debate on the merits of external versus internal management. For instance, Sabana REIT?s unit holders recently voted to transition away from an external manager in favor of an internal structure?a move that stands out because, until now, all 42 listed REITs in Singapore had employed external managers. This historical preference underscores that ESR REIT?s current arrangement with ESR REIT Management (S) Limited aligns with the conventional external management model in the market.
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Smallinvestor
Senior |
11-May-2025 11:55
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Can anyone advise? Is esr reit using external manager? Also always saw management fee paid by new shares and also paid for acquisition. Now that there is an announcement on 27 Feb on the fishery port legal issue. Does anyone have details on this? Also if esr reit is liable, what and how could it be? Is it due to the due to any mismanagement or accidents? Is there insurance etc? Who will be responsible? Or what? | ||||
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asianguy
Senior |
11-May-2025 09:38
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Just compared with Sabana REIT it trying to acquire few years back, despite spending $11M on internalisation cost, sabana still maintain its share Price, NAV and DPU. ESR is like dropping 40% in share Price, NAV and DPU. No other industry reits has done so badly. Management still happily collecting its management fee, director fee, etc. | ||||
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Smallinvestor
Senior |
05-May-2025 19:31
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Those director rich la. I believe THEY ARE MORE FAMILIAR ON WHAT IS GOING ON than many of us and they are still being paid even price is down. I Bought at $0.32 (~ $3.20 now) then average down a bit then price still kept going down as the reporting is no good until now as compared to 2-3 years ago. (Better this year compared to many worst years, try compare result now with 2-3 years ago and not just last year). Price now $2.27 (~0.227). Now nav only $2.69 (~$0.269). Will it trade above nav? Even If yes, also a long way to go la. After getting the dividend, I am still in the red(i believe many of us also). There is still one outstanding case for fishery port rd not settled and not sure if the AEI of fishery port has already paid. If not, at least >$20mil + ~$240mil(from past reporting), hope the management can update on this. How much cash holding they have now, 70mil?(estimate from past reporting). 1 year earning also not that much to cover. (Go see latest earning). ESR ah, Fishery port road ah......... | ||||
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Goldfinger
Supreme |
05-May-2025 16:56
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Interestingly, the consolidation actually did help improve the shrae price today - theoretical was SGD2.05 vs SGD2.27 now? | ||||
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Joelton
Supreme |
05-May-2025 12:45
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ESR-Reit
On Apr 25, ESR-Reit Management (S) independent non-executive director Nagaraj Sivaram acquired 936,000 units of ESR-Reit at S$0.21 a unit. This almost doubled his direct interest from 0.013 per cent to 0.025 per cent.
The acquisition followed ESR-Reit&rsquo s Q1 FY2025 business update, which reported increases of 24 per cent in revenue and 31 per cent in net property income from the corresponding period of the year before. This was mainly attributable to contributions from ESR Yatomi Kisosaki Distribution Centre and 20 Tuas South Avenue 14, which were both acquired in November 2024.
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MrBear12
Supreme |
30-Apr-2025 10:18
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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It needs a new management not a new name.
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whereru
Senior |
30-Apr-2025 10:17
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ESR just getting to be short down again | ||||
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HB8289
Master |
30-Apr-2025 10:11
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shooting up now | ||||
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n3wbie
Elite |
30-Apr-2025 10:03
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Market hasn' t realised its new ticker 9A4U, no volume so far today | ||||
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Smallinvestor
Senior |
30-Apr-2025 08:47
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They are conducting some strategy, but then after the execution, it seems like, nav and dpu down. Also gearing up. (Not sure why and how, maybe someone can enlighten us on this). Q1 25 reporting which includes the full rental of the two newly acquisition, the revenue and the npi up, the dpu up 7% (which is y-y), although it seem like very positive but i thnk the dpu will still be lower than 2 -3 years ago with nav down and gearing up. (Forcast dpu just my personal estimate - 0.2119*1.07 = 0.0227 or (44.2mil × 4)÷ ~8bil shares). Also why revenue and npi up so much but distribution income also same as last year? (Please see the data on the finacial reporting). And extra management fee need to be paid after disposal or acquisition, if I am not wrong, please verify yourself. Can read latest management fee, on how much it is? When management fees are paid by new shares, it will dilute the shares. Also there are some ongoing aei, lets say fishery port aei how much is it?(>200mil?) What is the down time without rental? Also one ongoing legal case if I am not wrong, no update since announcement.(saw online and announcement on 27 feb 2025- ESR-REIT Faces Legal Dispute Over Former Property Incident/ General Announcement::Update on 2 Fishery Port Road ). Some announcement on Issue of Subordinated Perpetual Securities etc.(offered return? High or low?) | ||||
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MrBear12
Supreme |
29-Apr-2025 22:25
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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Performance overview: J91U.SI
Trailing total returns as of 29/04/2025, which may include dividends or other distributions. Benchmark is STI Index (^STI). YTD return J91U.SI -18.73% STI Index (^STI) 0.46% 1-year return J91U.SI -24.70% STI Index (^STI) 15.94% 3-year return J91U.SI -34.77% STI Index (^STI) 13.35% 5-year return J91U.SI -8.79% STI Index (^STI) 47.79%
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MrBear12
Supreme |
29-Apr-2025 21:53
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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You are welcome.
I also hate selling at a loss. For example, I have some reits units bought at 50 cents and now worth only 25 cents. Held for dividends every quarter. Did not bother about the paper losses. Written off long ago. Trade with write offs
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JamesWong1
Member |
29-Apr-2025 21:38
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Thank you MrBear12. That is not financial advice, I just dun like selling at a loss. |
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MrBear12
Supreme |
29-Apr-2025 21:30
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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Good strategy.
Wise decision Trade with James advice
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JamesWong1
Member |
29-Apr-2025 21:21
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I own 10000 units of ESR Reit. I bought them at $0.35 2 to 3 years ago. Now one unit is $0.205. If you ask me, I really regret invest in ESR Reit. I will not sell them, I will just take dividends once every 6 months. No way I will dump any more money to " average down" . |
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n3wbie
Elite |
29-Apr-2025 19:58
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Dont think they are necessarily a bad name. The assets had gone through a few owners from CIT days but at least they have a strategy and are executing against it. Rarely see a SREIT doing unit consolidation which effectively doesnt change the capital structure but will see if that improves their unit price...
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MrBear12
Supreme |
29-Apr-2025 08:49
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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Bad name.
One quarter recovery not convincing
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n3wbie
Elite |
29-Apr-2025 08:44
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They have divesting to deleverage so naturally NAV would decline but seems like NPI and DPU are on the recovery.
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