Jurong Districentre is part of the Cambridge Reit portfolio.
WHILE MOST stocks were keeling over today, Cambridge Industrial Trust held its ground and closed unchanged at 45 cents.
Tonight (Jan 27), the reason for the stable stock price became clear.
The REIT announced a distribution per unit of 1.377 cents for Q4 of 2009, which is no surprise since Q3’s was 1.344 cents.
When annualized, the Q4 payout amounts to 5.463 cents, which translates into a handsome yield of 12.1% based on the REIT’s 45-cent market price.
Now, 12.1% is not a return to sniff at, especially when it is likely to be a stable return.
Not surprisingly, the REIT's market price was a standout in the storm that swept through the market in the last few days.
Some highlights from the CIT announcement tonight:
* Improvement in portfolio occupancy rate to 99.8% in 4Q2009, compared with Singapore’s industrial average of 91.9%.
* Net property income in FY2009 reached S$65.1 million, representing an increase of 3.7% as compared with the year before. This was on the back of an increase of 3.0% in gross revenue in FY2009 to $74.4 million.
* Cambridge has become the first REIT in Singapore to offer a Distribution Reinvestment Plan which applies from the 4Q2009 distribution. All unitholders at the books closure date will have the ability to increase their holdings in the Trust without brokerage or transaction costs by participating in the DRP.
With the Cambridge REIT's welcome payout, investors may turn their attention to other REITs which potentially are high yielding, based on their most recent track record.
The following is a selection of such REITs. For the full list, visit an excellent website http://reitdata.blogspot.com/
| REIT | Period | DPU (ct) | Price | Annualised Yield | NAV | Assets Type | |
| Cambridge | Q4: Dec-09 | 1.377 | S$0.45 | 12.1% | S$0.60 | Industrial | |
| AIMSAMPIReit | 1H10 (Proforma – Rights) | 1.04 | S$0.215 | 9.674% | S$0.31 | Industrial | |
| LMIR | Q3: Sept 09 | 1.22 | S$0.49 | 9.959% | S$0.7443 | Malls- Indonesia | |
| First REIT | Q4 : Dec-09 | 1.92 | S$0.85 | 8.965% | S$0.9839 | Hospitals + Hotel (Indonesia) | |
| Suntec | Q4 : Dec-09 | 2.886 | S$1.28 | 8.945% | S$1.754 | Malls + Office | |
