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Investors from HSBC?s roadshow were positive on KREIT?s asset quality and performance, but had concerns on potential impact of higher interest rates and Singapore office outlook in general. KREIT has a gearing ratio of 44%. However, the house notes that 70% of KREIT?s debt is fixed for 3 years and average debt term to maturity is one of the highest in the sector at close to 4 years. HSBC estimates that every 100bps increase in interest rates would cause DPU to decline by 3% in the short to medium term. On outlook on Singaproe office, KREIT has seen positive rental reversions for expiring leases in 2H13 on the improving outlook over the past 6 months. Management expects that the lower level of supply in CBD in 2014 ? 2015 will strengthen landlord?s pricing power. Investors were also interested in the acquisition prospect of MBFC Tower 3 (30% owned by Keppel Land, > 90% committed) in 2014. But given KREIT?s gearing of 44%, further acquisitions will likely require equity fund raising and/or capital recycling via asset divestments. HSBC remains Neutral on KREIT despite having 6.9% yield (highest among office REIT peers) as DPU growth is expected to be subdued through 2015 as income support for various properties declines/ceases. TP: $1.25
I sold one physical property, put the money in the bank, earning v. low interest. Decided to take some risk and earn higher return from K. R. Hope this decision is right for me.
alexmay ( Date: 07-Dec-2013 12:18) Posted:
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wah ,Tony you very rich, 500K @ 1.165 I vested too early cannot get 6% yield for retirement.
tonylim2 ( Date: 07-Dec-2013 08:28) Posted:
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What is the level of revenue and distributable income generated by Keppel
REIT?
For the period 1 January 2011 to 31 December 2011, property income was about S$78.0 million. Income available for distribution to unitholders was about S$113.0 million.
For the period 1 January 2010 to 31 December 2010, property income was about S$84.6 million. Income available for distribution to unitholders was about S$85.6 million.
Extract from Keppel Reit website :Why Income for distribution can be higher than actual property income ???????????? Please help to enlighten.
For the period 1 January 2011 to 31 December 2011, property income was about S$78.0 million. Income available for distribution to unitholders was about S$113.0 million.
For the period 1 January 2010 to 31 December 2010, property income was about S$84.6 million. Income available for distribution to unitholders was about S$85.6 million.
Extract from Keppel Reit website :Why Income for distribution can be higher than actual property income ???????????? Please help to enlighten.
This reit owns many first grade office building, yield at 6.7 % now at 1.165. Can feel the management is getting more investor friendly with new appointment of new Chairman. Although gearing is high at 43% , but dividend payout ratio is also very high at 4.8x. Management had refinanced some debts early, so DPU for the next 5 years should be steady.
( Just vested at 1.165-500,000 units ) I could be biased because I am vested.
alexmay ( Date: 06-Dec-2013 14:33) Posted:
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pick up some also, but no more money, otherwise would pick up more. Sydney 77 Kings Street, Guess who is there? Apple showroom!!
Dear Mr xxxxx ,
8 Chifley Square has already TOP in August and tenants have already started to move in. In fact, the anchor tenant, Corrs Chambers Westgarth, has already started operations there. Currently, the other tenants are still in the process of moving in.
As for the financing of the Old Treasury Building project in Perth, we have already received full loan commitments from the banks. As such, there is no requirement for any more placement of units for the financing of the project.
I hope this answers your questions. Thank you.
Regards,
Dale Lai
Note : The above 2 questions were replied by the IR manager, Mr, Dale Lai yesterday.
I collected alot (relative to my portfolio size) already.
Apparently everyone thinks that ALL REITs behave like bonds, their price will fall when interest up shoot up.......
There is even huge players shorting this one.
Lets prove them wrong :)
- Reit's income is not fixed unlike bonds. Infact reit is more like a float rate bonds.
- Not all reits are the same. Don't compare office reit with industrial ones.
Huat ah!
myfcoach ( Date: 04-Dec-2013 12:39) Posted:
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strange...nobody interested in this Reit..based on TA, a support looks firm at 1.16-1.17. Divided yield 6%, good quality assets in CBD area and Australia. Refinancing done early(check latest quarter results) at 2% shows that management knows interest rates only have 1 way to go in the future...up...
cheers,
Jason at http://myfcoach.com/ and http://millionaire-investors.blogspot.sg/
guoyanyunyan ( Date: 21-Aug-2013 11:37) Posted:
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There is a odd lot market, ask your broker about it, can ask your broker to lower the brokerage also
Thanks.
now is OK. may be that timing the system got error.
Rosesyrup ( Date: 28-Nov-2013 01:22) Posted:
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Can sell 1 shares right? As in no need to sell in 1000shares per lot kind. Anyway good counter for keeping. Office demand is rising.
newcoming ( Date: 28-Nov-2013 01:18) Posted:
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received some quantity from the dividend in specie distributed by Keppel Corp.
but does not match the lot size 1000unit.
How to let go?
Thks for the posts. I think price will react up from the drop.
TEMASEK Holdings has sold its entire direct stake in office landlord Keppel Reit (KReit) in a share placement that started on Monday evening, sources close to the deal said yesterday. The deal involved 103,994,321 shares offered at a price range of between $1.195 and $1.21 per share, the sources said. This represents a 1.6-1.8 per cent discount to the trust's last closing price of $1.23 on Oct 21. The placement offer amounted to an estimated $125 million. By the market close on Tuesday, some 163 million shares worth $194.4 million had changed hands, market data from the Singapore Exchange showed. Temasek's share sale works out to 3.74 per cent of KReit, representing the stake it had received from the dividend in specie distributed by Keppel Corp to its shareholders during its FY2012 final results announced on Jan 24, 2013.
Temasek Said to Have Sold Stake in Keppel REIT
Oct. 22 (Bloomberg) -- According to 2 ppl familiar with the
transactions, who declined to be identified because the
information is private....
* Temasek sold about 103.9m shrs for S$1.195: 1 of the ppl
* JPMorgan was the advisor on the sale: 2 ppl
* NOTE:Keppel REIT falls as much as 4.1%, most since July 8,
lowest since Aug. 30
* 1 block of 99m shrs crossed at S$1.195 at 9:08am, equivalent
of 3.6% of shares outstanding: Bloomberg data
* 1 block of 4.94m shrs crossed at S$1.195 at 9:09am:
Bloomberg data
Oct. 22 (Bloomberg) -- According to 2 ppl familiar with the
transactions, who declined to be identified because the
information is private....
* Temasek sold about 103.9m shrs for S$1.195: 1 of the ppl
* JPMorgan was the advisor on the sale: 2 ppl
* NOTE:Keppel REIT falls as much as 4.1%, most since July 8,
lowest since Aug. 30
* 1 block of 99m shrs crossed at S$1.195 at 9:08am, equivalent
of 3.6% of shares outstanding: Bloomberg data
* 1 block of 4.94m shrs crossed at S$1.195 at 9:09am:
Bloomberg data
danytan ( Date: 22-Oct-2013 16:00) Posted:
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Means ur broker is saying the seller is TH... qn is why did they wanna sell at that price?
stknoob ( Date: 22-Oct-2013 15:56) Posted:
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Broker told me Temasek Holding wants to raise $100million by selling Kep Reits.
So it is a good time to buy some Kep Reit to keep? Any advise
I'll be cautious at the moment. Trade well, bro.
danytan ( Date: 22-Oct-2013 12:05) Posted:
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Yup. Seems like good buy-in opportunity, quite low.
everknight ( Date: 22-Oct-2013 11:53) Posted:
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