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Cambridge Ind Trust Results Announcement
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bishan22
Supreme |
20-Jul-2015 11:41
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Result on 23 July. DPU??? |
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bishan22
Supreme |
08-Jun-2015 07:52
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CD payment on 10 June.
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bishan22
Supreme |
13-May-2015 12:20
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Controlled at 715. Unless got super good results. | ||||
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stockeers
Member |
13-May-2015 12:00
Yells: "Trade everything moderately!" |
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Can go beyond 0.725 ? |
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WanSiTong
Supreme |
22-Apr-2015 11:37
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DPU : 1.225 cents per unit Ex : 28 April 2015
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katak88
Master |
14-Nov-2014 13:49
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07-Nov-2014 17:12:33 Distribution Reinvestment Plan for Quarter Ended 30 September 2014 Despatch of Notice of Election http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content& B=AnnouncementLast3MonthsSecurity& F=J4N6APRDD05L115N& H=456a8336da2b7514ab4392a005e632771cf5ab930dc6b43fc019711a1fc05049#.VGWWifk7P6s 03-Nov-2014 17:05:34 Issue Price of New Units Pursuant to the Distribution Reinvestment Plan http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content& B=AnnouncementLast3MonthsSecurity& F=UPRCA99Y881CW4AA& H=3625a2b322341ff4de21e030efc12f7297ab48dc75fbc74a9b00dff1214f17ae#.VGWXC_k7P6s ISSUE PRICE OF NEW UNITS PURSUANT TO THE DISTRIBUTION REINVESTMENT PLAN Cambridge Industrial Trust Management Limited, as manager of Cambridge Industrial Trust (&ldquo CIT&rdquo and the manager, the &ldquo Manager&rdquo ) wishes to announce that the issue price of the new units in CIT pursuant to the application of the Distribution Reinvestment Plan to CIT&rsquo s distribution for the quarter ended 30 September 2014 (&ldquo DRP Units&rdquo ) is S$0.6835 per DRP Unit. The issue price represents a discount of 2% to the volume-weighted average traded price per unit in CIT (&ldquo Unit&rdquo ) on the Singapore Exchange Securities Trading Limited (the &ldquo SGX-ST&rdquo ) from 29 October 2014 to 31 October 2014 (both dates inclusive). |
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WanSiTong
Supreme |
27-Aug-2014 13:05
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Cambridge Industrial Trust - Acquisition amid a tight market Shared By Stock Fanatic on Tuesday, August 26, 2014
CREIT has just announced the proposed acquisition of 12 Ang Mo Kio Street 65 for a purchase consideration of S$39.8m. By funding this acquisition with debt and cash on hand, the leverage ratio is expected to rise to 34.8% upon its completion. Consequently, DPU is expected to be boosted by c.2% in FY15. On the back of a tight acquisition market, we view this transaction positively, although the impact on earnings is expected to be limited.
We maintain our Hold rating while our DDM-based (discount rate: 8.0%) target price rises slightly to S$0.78 as we price in the marginally higher earnings.
What Happened
Cambridge Industrial Trust (CREIT) has just announced that it has entered into a conditional sale and purchase agreement with Freshlane Pte Ltd in connection with the proposed acquisition of 12 Ang Mo Kio Street 65 for a purchase consideration of S$39.8m. The property is a 6-storey purpose-built light industrial building with a GFA of 16,762 sq m and a remaining tenure of 36 years. Current occupancy stands at 85%, with two tenants, namely, Nepes Pte Ltd and Singapore Technologies Electronics Ltd.
What We Think
With a cap rate of 6.75% and an expected yield on cost of c.7% (at 100% occupancy), the valued paid for this property is in line with the weighted cap rate of CREIT' s recent valuation (6.5-6.9%). With this acquisition expected to be fully funded via cash on hand and debt, we believe there will be no capital-raising. Consequently, we expect this acquisition to be yield-accretive, adding 2.1% to FY15 DPU and 2.2% to FY16 DPU, with a leverage ratio of 34.8% upon completion. Given this, together with the strong tenants currently on the property, we view the proposed acquisition positively, although given the value of this asset and the fact that the acquisition will only be completed in 3Q14, the impact on FY14 earnings should be minimal.
Technical Analysis
What You Should Do
CREIT is offering dividend yields of 7.0% for FY14 and 7.4% for FY15 vs. 7.2% and 7.4% for its peers. On this basis, together with its 1.05x P/BV compared to the sector average of 1.09x and limited impact on earnings from this acquisition, we maintain our Hold rating, with a slightly higher target price of S$0.78 as we factor in the marginally higher contributions from this acquisition to FY15 earnings. (Read Report)
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dc16888
Master |
30-Jul-2014 13:26
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found 0.70 @ 200DMA
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dc16888
Master |
30-Jul-2014 13:22
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Price still kept falling despite CD. each day falls 1 c, today low @ 0.73. waiting to long but what price? 0.72? |
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WanSiTong
Supreme |
25-Jul-2014 14:33
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Cambridge Industrial Trust (HD▼ , TP:S$0.77▼ ) - Going overseas CREIT&rsquo s 1H14 results were in line with expectations, with its DPU forming 48% of our FY14 forecast. Management highlighted that the REIT will look to acquire assets in overseas markets such as Australia, Japan and Malaysia. Although we recognise this as an avenue that most REITs might have to take eventually for growth reasons, we downgrade CREIT to Hold from Add as we see limited growth in the near term. Our DDM-based (discount rate:7.9%) target price goes down to S$0.77, as we lower our FY14-16 forecasts by c.2.2% to reflect the slower local industrial market. We expect potential re-rating catalysts from future yield-accretive acquisitions. |
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dc16888
Master |
24-Jul-2014 09:53
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can anyone help? is cambridge formed double top at recent high? 0.755 is the neckline? Thks |
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WanSiTong
Supreme |
24-Jul-2014 09:03
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NOTICE OF BOOKS CLOSURE AND DISTRIBUTION PAYMENT DATE NOTICE IS HEREBY GIVEN that the Transfer Books and Register of Unitholders of Cambridge Industrial Trust (" CIT" ) will be closed at 5.00 pm on 4 August 2014 for the purpose of determining Unitholders&rsquo entitlements to CIT&rsquo s distribution. CITM has announced a distribution of 1.251 cents per unit for Cambridge units for the period 1 April 2014 to 30 June 2014 comprising distributions from the following: Taxable income 1.022 cents per unit Capital 0.134 cents per unit Capital gains 0.093 cents per unit Tax-exempt income 0.002 cents per unit Unitholders whose securities accounts with The Central Depository (Pte) Limited are credited with CIT units as at 5.00 pm on 4 August 2014 will be entitled to the distributions that will be paid on 10 September 2014. |
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bishan22
Supreme |
14-May-2014 14:29
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Going to test 0.80. Good luck. | ||||
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WanSiTong
Supreme |
21-Apr-2014 16:33
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New formula cuts performance fee by up to 50%, so more cash can go back to unitholders. Under the old formula , performance fees for 6 mths enede 30.6.13 : $ 27.7M The mgt waived half & accpeted payment of $ 13.9M Saving :$ 13.8M / 1,242 M (UH as at 30.3.14) = 1.11c X 2 = 2.22c p.a.
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junction
Master |
18-Apr-2014 12:31
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Thats good news to investors. No wonder it went up yesterday. Yield is good. I think can buy some to keep.
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WanSiTong
Supreme |
17-Apr-2014 17:10
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CIT Reduces Performance Fees in Favour of Unitholders Singapore, 17 April 2014 &minus Speaking at today&rsquo s fifth Annual General Meeting, the Manager of Cambridge Industrial Trust has announced it has decided to unilaterally reduce the Trust&rsquo s performance fee calculation in favour of Unitholders. The Tier 2 performance fee will be reduced to 5% from 15% which effectively cuts the performance fees by up to 50%. " As you can recall, the Trust strongly outperformed the benchmark index last year, we were entitled to a performance fee of S$27.7 million. The board took the decision to reduce this by 50% to S$13.9 million. In response to feedback from Unitholders over the quantum of performance fees in 1H2013, the board has decided to adjust the way the performance fee is calculated. The revised calculation will permanently reduce the fees by about half." said Dr Chua Yong Hua, Chairman of the board. Management was congratulated by Unitholders for being the best performing industrial REIT in 2013 and for listening to them by amending the performance fees. |
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WanSiTong
Supreme |
17-Apr-2014 11:40
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UNILATERAL ADJUSTMENT TO PERFORMANCE FEES IN FAVOUR OF UNITHOLDERS 1. REVIEW AND ADJUSTMENT TO PERFORMANCE FEE COMPUTATION Following a review by the Board, Cambridge Industrial Trust Management Limited, as manager of Cambridge Industrial Trust (" CIT" and the manager of CIT, the " Manager" ), has decided to waive a certain portion of its performance fee in certain circumstances with immediate effect, for the benefit of unitholders of CIT (the " Unitholders" ). http://infopub.sgx.com/FileOpen/17042014SGXCITAnnouncement_Performance%20Fees%20Adjustment_Final.ashx?App=Announcement& FileID=291982 |
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john_ric
Supreme |
17-Apr-2014 11:33
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... Halted. another M& A story? taken private ?? |
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WanSiTong
Supreme |
16-Apr-2014 08:58
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Published April 16, 2014
CIT' s Q1 DPU up, completes two acquisitions in Singapore
By Jacquelyn Cheok
CAMBRIDGE Industrial Trust (CIT) on Wednesday posted a distribution per unit (DPU) of 1.251 Singapore cents for its first quarter ended March 31, 2014 (Q1), a 1.4 per cent increase from 1.234 Singapore cents a year ago.
Net property income fell 11.1 per cent from S$21.33 million a year ago to S$18.97 million, while net amount available for distribution rose 3.3 per cent from S$15.1 million a year ago to S$15.6 in Q1. Gross revenue slipped 5.1 per cent to S$23.54 million in Q1, down from S$24.8 million in the same period a year ago. This was largely due to the straight line rent adjustment of S$0.9 million in the previous period and the effect of property divestments net of property acquisitions, completion of developed properties and rental escalations of S$0.4 million since Q1 2013, CIT said. Meanwhile, it completed two acquisitions totalling S$73 million in Q1: 30 Teban Gardens Crescent at a purchase price of S$41 million and 11 Chang Charn Road at a purchase price of S$32 million. |
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bishan22
Supreme |
16-Apr-2014 08:14
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Thks Wan kor. My quarterly kopi at starbuck. Wohooo. 
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