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All REITs under my radar are green this monring, except for,... Lendlease, and MUST too, I think,... why does Lendlease keep retreating ?
ThaiBev for sure
francisd ( Date: 20-Mar-2020 09:28) Posted:
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CHIONG ARH!!!
Lendlease and ThaiBev... same price which one is better.
Any good suggestions.
Cheers.
Any good suggestions.
Cheers.
Lendlease expects Reit to be resilient despite coronavirus threat
MON, MAR 16, 2020 - 5:50 AM
WITH more than two decades of industry experience under his belt, Kelvin Chow has come to appreciate the convergence of art and science in real estate.
" Traditionally, in the area of lease management, the key requirement was just to lease the property out, get a good price, and manage its...
uiop1223 ( Date: 19-Mar-2020 11:06) Posted:
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Below 0.50 coming? 
Today still green. Something is brewing?
Not surprising. One property in Italy (hammered by covid) and one in orchard (who goes orchard nowadays?)
Drop suddenly.
yes, ipo at 88cts.
i think no harm to bu some at 50cents.
i think no harm to bu some at 50cents.
ZERO99 ( Date: 18-Mar-2020 10:44) Posted:
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So cheap now!
IPO 0.88?
IPO 0.88?
blackrock buy in at 0.6
Loaded today for next week recovery
The REIT mgr could have announced this to unitholders and explained to us. There is a Review section somewhere in the full FInancial Statement.
They could have explained this there.
They could have explained this there.
kennethchew123 ( Date: 17-Feb-2020 15:53) Posted:
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sometimes there might be timing differences to warrant capital distribution.. my guess is that need more time for cash to flow out from their milan asset
Hi bro,.. hoping this Sunday is relaxing with your family,..
I have just checked the unaudited financial reports of LL, and pertaining to the article by REITsweek that I posted earlier, page 5 of 18 shows what the report said. The word Capital Returns here has a wide meaning,... can mean anything, but one thing is for sure, the distributions directly collected from the two premises did not meet the distributable income needed to payout dividends based on forecast.
They needed to add-in another 4.7mil to the distributable income to boost the dpu to 1.29c. They called this 4.7mil as ' Capital Returns' .
I have heard of Return-of-Capital, Capital Distributions, etc from other REIT payouts, egs,... my favourites Parkway Life REIT and First REIT. There are always three components to the dpu - taxable income, non-taxable income and return of capital. But I' m not sure if ' Capital Returns' as mentioned by LL is equal to ' return of capital' by Parkway Life REIT and First REIT. Hence, I can' t comment on the accounting treatment of Parkway Life REIT and First REIT which created, using general terms,... capital returns. The treatment is most probably different since the two ctrs above have been listed for many years whereas LL was listed just a few months ago.
I did a comparison with a REIT with overseas assets that was listed recently, namely Prime REIT. Prime REIT did not have the capital returns component in their distribution payout.
I believe the best way to address our curiosity is to be found by asking the REIT manager what constitutes this Capital Returns. Then from here, we can decide if the earnings of this REIT that contributes to our dpu payout is stable or not.
I have just checked the unaudited financial reports of LL, and pertaining to the article by REITsweek that I posted earlier, page 5 of 18 shows what the report said. The word Capital Returns here has a wide meaning,... can mean anything, but one thing is for sure, the distributions directly collected from the two premises did not meet the distributable income needed to payout dividends based on forecast.
They needed to add-in another 4.7mil to the distributable income to boost the dpu to 1.29c. They called this 4.7mil as ' Capital Returns' .
I have heard of Return-of-Capital, Capital Distributions, etc from other REIT payouts, egs,... my favourites Parkway Life REIT and First REIT. There are always three components to the dpu - taxable income, non-taxable income and return of capital. But I' m not sure if ' Capital Returns' as mentioned by LL is equal to ' return of capital' by Parkway Life REIT and First REIT. Hence, I can' t comment on the accounting treatment of Parkway Life REIT and First REIT which created, using general terms,... capital returns. The treatment is most probably different since the two ctrs above have been listed for many years whereas LL was listed just a few months ago.
I did a comparison with a REIT with overseas assets that was listed recently, namely Prime REIT. Prime REIT did not have the capital returns component in their distribution payout.
I believe the best way to address our curiosity is to be found by asking the REIT manager what constitutes this Capital Returns. Then from here, we can decide if the earnings of this REIT that contributes to our dpu payout is stable or not.
i read this too....but how come DBS analyst report never mention this? but topped-up from capital returns is quite normal right?
I read something disturbing this evening,.... reported in Reitsweek :-
LendLease Global Commercial REIT has reported a distribution per unit (DPU) of 1.29 Singapore cents for its maiden reporting period from 2 October to 31 December 2019.
This is 3.1% higher than the forecast DPU of 1.25 cents.
The REIT&rsquo s distributable income for the period was SGD15.0 million, 2.4% higher than forecast.
Similarly, the REIT&rsquo s gross revenue of SGD21.4 million was 1.0% higher than forecast.
Meanwhile, its net property income of SGD16.2 million exceeded forecast by 3.2%.
However, the REIT&rsquo s DPU for the period is bolstered significantly by a capital top-up.
Its distributable income of SGD15 million consists of cash flow from operations of just SGD10.3 million.
A remaining SGD4.7 million was topped-up from capital returns.
As such, Lendlease Global Commercial REIT has missed its target of cash flow from operations of SGD14.6 million by about 29.6%.
As at 31 December 2019, the REIT&rsquo s portfolio has a committed occupancy of 99.8%
Its weighted average lease expiry (WALE) by net lettable area is 10.1 years.
Its Singapore property, 313@somerset, registered a positive rental reversion of 0.5% for the period 2 October 2019 to 31 December 2019.
In addition, the government' s Master Plan 2019 has formalised the increase in permissible plot ratio for 313@somerset from 4.9+ to 5.6, resulting in a potential increase of up to 1,008 square metres of gross floor area based on its current gross floor area.
The REIT&rsquo s manager is studying the opportunities to deploy the additional areas to improve the retail offerings of the mall.
Its property in Milan, Sky Complex, is fully occupied and operates on a triple net lease structure.
However, the property saw lower revenue during the period due to weaker Euro, said the REIT.
Its gross borrowings stood at SGD529.2 million as at 31 December 2019, translating to a gearing ratio of 34.9%.
The REIT&rsquo s first distribution will be paid on or before 31 March 2020.
Lendlease Global Commercial REIT was last done on the Singapore Exchange at SGD0.9.
LendLease Global Commercial REIT has reported a distribution per unit (DPU) of 1.29 Singapore cents for its maiden reporting period from 2 October to 31 December 2019.
This is 3.1% higher than the forecast DPU of 1.25 cents.
The REIT&rsquo s distributable income for the period was SGD15.0 million, 2.4% higher than forecast.
Similarly, the REIT&rsquo s gross revenue of SGD21.4 million was 1.0% higher than forecast.
Meanwhile, its net property income of SGD16.2 million exceeded forecast by 3.2%.
Top-up
However, the REIT&rsquo s DPU for the period is bolstered significantly by a capital top-up.
Its distributable income of SGD15 million consists of cash flow from operations of just SGD10.3 million.
A remaining SGD4.7 million was topped-up from capital returns.
As such, Lendlease Global Commercial REIT has missed its target of cash flow from operations of SGD14.6 million by about 29.6%.
As at 31 December 2019, the REIT&rsquo s portfolio has a committed occupancy of 99.8%
Its weighted average lease expiry (WALE) by net lettable area is 10.1 years.
Its Singapore property, 313@somerset, registered a positive rental reversion of 0.5% for the period 2 October 2019 to 31 December 2019.
In addition, the government' s Master Plan 2019 has formalised the increase in permissible plot ratio for 313@somerset from 4.9+ to 5.6, resulting in a potential increase of up to 1,008 square metres of gross floor area based on its current gross floor area.
The REIT&rsquo s manager is studying the opportunities to deploy the additional areas to improve the retail offerings of the mall.
Its property in Milan, Sky Complex, is fully occupied and operates on a triple net lease structure.
However, the property saw lower revenue during the period due to weaker Euro, said the REIT.
Its gross borrowings stood at SGD529.2 million as at 31 December 2019, translating to a gearing ratio of 34.9%.
The REIT&rsquo s first distribution will be paid on or before 31 March 2020.
Lendlease Global Commercial REIT was last done on the Singapore Exchange at SGD0.9.
313@somerset still has foot traffic and the half-year report released yesterday looks good. Any other issues with Lendlease ?
WHAT HAPPENED ?????????????
IPO PRICE WAS SGD 0.88, THIS WAS THE DARLING OF THE IPOS IN 2019.
CLOSING PRICE YESTERDAY WAS SGD 0.89 !!!!!!!!!!!!!!!!!!!!
IPO PRICE WAS SGD 0.88, THIS WAS THE DARLING OF THE IPOS IN 2019.
CLOSING PRICE YESTERDAY WAS SGD 0.89 !!!!!!!!!!!!!!!!!!!!