No big issues there with these 3 REITs that I own.
For FY 2012 last quarter, AIMS AMP Ind REIT have 12 mil for distribution and distribute 11.7 mil.
DPU fell since last year or forth quarter to 0.53 cents.
At the price of 22 cents, yield is 2.4% or 9.6% annualized.
(NPI-Interest Expense) / Asset = 11.52 / 863= 1.33%
Net Debt to Asset is 28.9%.
For FY2011 last quarter, Cache Logistic Trust have 13.2 mil for distribution and distribute 13.2 mil.
DPU went up to 2.086 cents vs 1.71 cents last quarter.
At the price 98 cents, yield is 2.12% or 8.5% annualized.
(NPI-Interest Expense) / Asset = 13.338 / 812 = 1.6%
Net Debt to Asset is 27.7%.
For FY2011 last quarter, Sabana REIT have 13.8 mil for distribution and distribute 13.8 mil.
At the price of 95 cents, yield is 2.29% or 9.1% annualized.
(NPI-Interest Expense) / Asset = 13.92 / 886 = 1.57%
Net Debt to Asset is 20.5%.
It would seem the managers at Cache log is able to get the best returns on their assets. I am disappointed with Sabana’s interest rates. They can only borrow from compliant lenders and as such interest rates are high. We will have to see if they can finance at a lower interest rates.
For now Cache Logistic Trust looks to be the best performing trust.
Disclosure: Author is vested in all three REITs
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