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Don' t think they hold 80% of Cambridge.. i think it referring to their management company which manages Cambridge Industrial Trust
< < Cambridge Industrial Trust had last year said its manager' s main owners, Oxley Global and National Australia Bank, had received expressions of interest for their combined 80% holding, but added on Thursday that no transaction had taken place. > >
WanSiTong ( Date: 14-Jan-2016 14:18) Posted:
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Hot Stock
Cambridge Industrial' s manager says to conduct strategic review
January 14, 2016: 1:57 PM
The manager of Cambridge Industrial Trust (Valuation: 3.00, Fundamental: 1.40) said on Thursday it will look into buying assets in Singapore, Australia and Japan, as well as conduct a strategic review of the property trust' s business and operations.
Cambridge Industrial Trust, which has a market valuation of about US $ 486 million ($ 700 million), owns assets such as warehouses and logistics properties. It reported a 9% drop in its fourth-quarter distribution per unit on Thursday.
Bankers say falling market valuations and higher interest rate expectations are set to stoke prospects for mergers and acquisitions in Singapore' s property trust sector.
Private equity investors Blackstone Group LP and Gaw Capital Partners are weighing separate bids for Singapore' s Ascendas Hospitality Trust (Valuation: 2.00, Fundamental: 0.75), people familiar with the matter said last week.
Cambridge Industrial Trust had last year said its manager' s main owners, Oxley Global and National Australia Bank, had received expressions of interest for their combined 80% holding, but added on Thursday that no transaction had taken place.
As at 1.30pm, Cambridge Industrial Trust is down 3.64% at 53 cents.
Not just that. It also showed that management has not confidence in share price, that' s why they took cash.
After XD, will drop anothe cent. So yes, it will drift to 50cents or lower.
ecekca ( Date: 14-Jan-2016 12:05) Posted:
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This time , the mgmt is taking cash for their mgmt fees that why DPU dropped. This also affected the DPU which is quite substantial
I think DPU of 1.139 and below is the norm now and will be lower since they will have quite a number of properties converting to multi-tenanted
I' m skeptical over the valuation as it higher than last year which is higher than last year. This is weird since industrial properties price should be dropping. Apparently they are using the discounted cashflow analysis and the capitalisation methods of valuation. Is that the proper way of valuation? Anyone has any feedback on this
of course i know
better for those who buy industrial properties who cannot rent out and they have to bear the rental themselves
bishan22 ( Date: 14-Jan-2016 10:31) Posted:
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Mai hiam liao... small drop of honey is better den drought...
ecekca ( Date: 14-Jan-2016 10:07) Posted:
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Who owns property?
Is the NAV really correct?
An
independent
valuation
exercise
was
conducted
in
December
2015
by
Savills
Valuation
and
Professional
Services
(S)
Pte
Ltd
(&ldquo Savills&rdquo )
on
25
properties
and
by
Knight
Frank
Pte
Ltd
(&ldquo Knight
Frank&rdquo )
on
26
properties.
The
revaluation
of
the
investment
properties
gave
rise
to
a
negative
fair
value
change
of
approximately
S$0.5
million.
The
valuations
were
based
on
the
discounted
cashflow
analysis
and
the
capitalisation
methods
of
valuation
not every good
WanSiTong ( Date: 14-Jan-2016 08:06) Posted:
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Cambridge Industrial Trust' s 4Q DPU falls 9% to 1.139 cents
January 14, 2016: 7:39 AM
Cambridge Industrial Trust' s 4Q DPU posted a 9% fall to 1.139 cents from 1.252 cents a year ago.
The drop was due to a change in form of payment of management from units to cash as well as the absence of capital distribution compared to 4Q14.
For the full year, DPU fell 4.2% to 4.793 cents from 5.004 cents a year ago due to lower distributions from capital and capital gains.
Philip Levinson, CEO of CIT' s manager, said, " Despite a difficult year, we stayed focused on our business in 2015, in short we did what we said we would do. CIT' s portfolio sustained double digit NPI growth for three consecutive quarters this year, with positive rental reversions of 9.1 percent and above industry average occupancy. Our prudent capital management has been the highlight of 2015. "
Gross revenue had increased 13% year-on-year to $ 112.2 million while net property income (NPI) increased 10.7% to $ 86.2 million.
As at Dec 31 2015, CIT' s portfolio consisted of investment properties of around $ 1.2 billion. More than 97% of interest rate exposure have been fixed for the next there years and no refinancing requirements until FY2017. Gearing remains at 36.9%.
CIT' s portfolio of 51 properties is leased to 187 tenants, with a total GFA of 8.5 million square feet. Weighted Average Lease Expiry (WALE) and portfolio occupancy remain steady at 3.8 years and 94.3% respectively.
Units of CIT last closed at 55 cents.
*****
Dividend yield: 4.793 / 0.55 = 8.71%
Bot back some shorts for kopi $$
Still expect Cambridge to go down in the next 12 mths due to tenancy conversion risk
Let' s guess
The previous DPU at 1.204 with DPU dropping QOQ at 1.71%
I reckon this time it will be less than 1.204. Was trying to find a trend. The prevoius DPU for 1Q/2Q/3Q, it looks like after that, all heads lower..
What you think?
bishan22 ( Date: 10-Jan-2016 11:37) Posted:
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DPU coming 14/1.......
Let it drop lower more than can go long for short tactical trade
Retest 0.56 again
Break the 0.56 support
Will retest 0.53 again
50cents target!!!
Oversold level .. Time to sell or short..
ecekca ( Date: 05-Jan-2016 19:20) Posted:
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4Q2015 result will be out on 14Jan.
Expecting a decline in DPU. Fearful of the result
However risk in 12mths even higher....
retested 0.56 again
a hedge fund owns 5% of cambridge..
Tested 0.56 again.
Long term prospect is weak..