Tuesday, December 6, 2016

Getting Ready To FIFO S-REITs After Fed Rate Hike (Part 1)

Flash In, Flash Out.

Commercial REITs

Mapletree Commercial Trust:
  1. Gearing: 37.3%
  2. Debt Maturity: 4.3 years
  3. Debt Maturity Profile: 2017 (2%), 2018 (11.9%), 2019 (19.1%), 2020 (19.4%)
  4. Interest Coverage: 4.9 times
  5. All-in debt costs: 2.66% per annum
  6. % of borrowings hedged on fixed rates: 74.1%

Suntec REIT:
  1. Gearing: 37.8%
  2. Debt Maturity: 2.91 years
  3. Debt Maturity Profile for office: 2017 (12.2%), 2018 (21.8%), 2019 (13.7%)
         Debt Maturity Profile for retail: 2017 (22.9%), 2018 (22.6%), 2019 (29.2%)

     4. Interest Coverage: 3.9 times
     5. All-in debt costs: 2.28%


CapitaLand Commercial Trust:
  1. Gearing: 37.8%
  2. Debt Maturity: 3.5 years
  3. Debt Maturity Profile: 2017 (5%), 2018 (16%), 2019 (22%), 2020 (38%), 2021 (14%)
  4. WALE: 6.8 years
  5. Interest Coverage: 6.5 times
  6. All-in debt costs: 2.5%
  7. % of borrowings hedged on fixed rates: 80%


Retail REITs

Frasers CentrePoint Trust:
  1. Gearing: 28.3%
  2. Debt Maturity: 2.7 years
  3. Debt Maturity Profile: 2017 (29.9%), 2018 (8.2%), 2019 (16.3%), 2020 (9.5%)
  4. WALE: 1.5 years
  5. Interest Coverage: 7.43 times
  6. All-in debt costs: 2.1%
  7. % of borrowings hedged on fixed rates: 59%

CapitaLand Mall Trust:
  1. Gearing: 35.4%
  2. Debt Maturity: 5.5 years
  3. WALE: 2 years
  4. Interest Coverage: 4.9 times
  5. All-in debt costs: 3.2%

4 comments:

Dividend Knight said...

Hi DW,

Nice list of picks. Can you make another one with other types of REITs in other sectors like industrial and healthcare? Thanks! :)

Dividend Warrior said...

I might pick some from other sectors but doing so require more monitoring time which is difficult for me right now.

Tang Siwei said...

What's FIFO?

Dividend Warrior said...

Hi Siwei,

FIFO means 'fast in fast out', meaning short-term trading.

LinkWithin

Related Posts Plugin for WordPress, Blogger...