I am looking at singapore reits now. Anyone have any comment????
This is what I found:
OCBC Investment Research in an Oct 28 research report says: "Cache Logistics Trust (CLT) delivered an 8.0% y-o-y growth in 3Q11 DPU to 2.095 cents, in line with both our and consensus expectations.
"Together with first-half DPU of 4.038 cents, 9M11 DPU amounted to 6.133 cents, or 74.1%/74.8% of our/consensus full-year estimates. The strong performance, we note, was achieved on the back of a 13.5% and 11.4% y-o-y growth in gross revenue and NPI respectively, as the additional rental income from its recent acquisitions contributed positively to the topline.
"We continue to like CLT for its defensive nature, attractive FY2011F DPU yield of 8.2%, and steady pipeline of assets from sponsor CWT with Right of First Refusal. Fair value of $1.14). MAINTAIN BUY."
Assets: 788 mil
Cash: 7.6 mil
Debts: 203 mil
Qtr Net Income: 10.6 mil
Qtr Net Operating Cash flow: 19.4 mil
Qtr Capex on existing properties: 5 mil
Qtr Free Cash Flow: 14.4 mil
Qtr Interest Expense paid: 1.5 mil
Qtr Distribution to share holders: 12 mil
EV/EBITDA: 18 times
PTB: 1 time