Back

Latest Forum Topics / IREIT Global SGD    Last:0.225    -0.005

Post Reply

IREIT Global Post Reply Rate topic
laksaman57 Supreme	14-Jul-2017 16:03        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	There is much opportunity to grow in Europe under new mgr ➡ " IREIT?s Unitholders at EGM strongly support broadened investment mandate to enhance portfolio diversification and grow long term stable income  Backed by 99.98% of votes, IREIT will now look to invest beyond the office into the retail and industrial (including logistics) market segments  Diversification by tenant, country (within Europe), asset and lease expiry will enhance cashflow visibility  A broader and larger portfolio also allows greater flexibility to improve the efficiency of IREIT?s financial and capital structure
Useful To Me  Not Useful To Me
chengwh1 Elite	13-Jul-2017 14:41        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Tq Roger,... The 10%  income retained per qtr  amounts to  only 651,000 Euros, but the partial loan repayment per qtr starting from coming August comes to a whopping  1,275,000 Euro per qtr, ie about  twice the income retained. It is not enough for the 10% to cover,..... IREIT Global still needs to do a dvd cut,... don' t you think so, mathematically ?? RogerTech      ( Date: 13-Jul-2017 14:17) Posted: I believe: 1.44 SGD cents is the result of 90% payout ! chengwh1      ( Date: 13-Jul-2017 12:33) Posted: Apologies, correction here : The reduction in the dpu in SG Cts, ie after conversion over from the Euro Cts  would be :  1.440  SG Cts - 20%  = 1.152  SG Cts left for payout per unit, with an assumption of  all else remaining equal.
Useful To Me  Not Useful To Me
RogerTech Member	13-Jul-2017 14:17        RogerTech About Contact  Quote this Post!
x 0   x 0  Alert Admin	I believe: 1.44 SGD cents is the result of 90% payout ! chengwh1      ( Date: 13-Jul-2017 12:33) Posted: Apologies, correction here : The reduction in the dpu in SG Cts, ie after conversion over from the Euro Cts  would be :  1.440  SG Cts - 20%  = 1.152  SG Cts left for payout per unit, with an assumption of  all else remaining equal.
Useful To Me  Not Useful To Me
RogerTech Member	13-Jul-2017 14:00        RogerTech About Contact  Quote this Post!
x 0   x 0  Alert Admin	IREIT Global used to pay out 100% of NPI, from 2017Q1, they will pay out 90% of NPI. i.e. the retained 10% of NPI is for paying debt.
Useful To Me  Not Useful To Me
chengwh1 Elite	13-Jul-2017 12:33        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Apologies, correction here : The reduction in the dpu in SG Cts, ie after conversion over from the Euro Cts  would be :  1.440  SG Cts - 20%  = 1.152  SG Cts left for payout per unit, with an assumption of  all else remaining equal.
Useful To Me  Not Useful To Me
chengwh1 Elite	13-Jul-2017 11:59        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	In the ' UNAUDITED FINANCIAL STATEMENTS ANNOUNCEMENT FOR THE FIRST QUARTER ENDED 31 MARCH 2017 ' , on pg 5, at the bottom, there is mention that : Commencing August 2017, partial loan repayments in four quarterly instalments of &euro 1.275 million each will be made, with the remaining principal repayable on a bullet basis in July 2018. THis will reduce the Income Available for Distribution by that amunt. Taking the 1Q distributable income as a benchmark, 6.5m Euros minus 1.275m Euros = 5.225m Euros, left for paying out to unitholders starting from the quarter Jul to Sep 2017. A rough calcuation would see a 20% reduction in the dpu, hence 1.440 Euro Cts - 20%  = 1.152 Euro Cts left for payout per unit, all else remaining equal. I also noticed that the SP of TKO.PA, the mother company of the manager is not doing well, and is on a downtrend,...
Useful To Me  Not Useful To Me
RogerTech Member	12-Jul-2017 13:39        RogerTech About Contact  Quote this Post!
x 0   x 0  Alert Admin	as per Preso 2017Q1: (1) Effective Interest Rate: 2.0% per annum (2) Interest Coverage Ratio (ICR): 8.5 times  (3)  Average Weighted Debt Maturity: 2.6 years ICR is Brilliant reflecting the fact that in low IR env, leverage can be a good thing ! The only thing needing to bear in mind: the new trust-manager may inject new assets into the REIT --> rights issue. again, rights issue may not be a bad thing if the proceeds is used to acquire assets and boost DPU.
Useful To Me  Not Useful To Me
chengwh1 Elite	12-Jul-2017 12:25        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Okay, Roger,.... thank you,.. appreciated your good opinions,...will look up,... RogerTech      ( Date: 12-Jul-2017 11:25) Posted: (1) I already talked about IR risk in my previous reply. The IR will remain low in EU for next couple of years or even longer (2)  Weighted Average Lease Expiry: 5.7 years -> WALE is almost 6 years what do you worry? plus security deposit is collected. (3) income for DPU is hedged. Please take a look at their latest Preso for 2017Q1 (get from SGX.com) for more details. chengwh1      ( Date: 12-Jul-2017 11:10) Posted: Tq Roger,... after scouring for infos here and there, I collected the following three risks pertaining to IREIT Global :- 1) interest rate risk, relatedto gearing risk. 2) tenant concentration risk, more than 50% of the rental collected is from Deutche Telecoms. 3) exchange rate risk, due to rentals being collecyed in the Euros, but paid out in SGD here in SG. But I did not read-up on any hedging activities put in place. Appreciated comments please,... quite keen on this counter, actually,...
Useful To Me  Not Useful To Me
RogerTech Member	12-Jul-2017 11:25        RogerTech About Contact  Quote this Post!
x 0   x 0  Alert Admin	(1) I already talked about IR risk in my previous reply. The IR will remain low in EU for next couple of years or even longer (2)  Weighted Average Lease Expiry: 5.7 years -> WALE is almost 6 years what do you worry? plus security deposit is collected. (3) income for DPU is hedged. Please take a look at their latest Preso for 2017Q1 (get from SGX.com) for more details. chengwh1      ( Date: 12-Jul-2017 11:10) Posted: Tq Roger,... after scouring for infos here and there, I collected the following three risks pertaining to IREIT Global :- 1) interest rate risk, relatedto gearing risk. 2) tenant concentration risk, more than 50% of the rental collected is from Deutche Telecoms. 3) exchange rate risk, due to rentals being collecyed in the Euros, but paid out in SGD here in SG. But I did not read-up on any hedging activities put in place. Appreciated comments please,... quite keen on this counter, actually,.... RogerTech      ( Date: 11-Jul-2017 14:15) Posted: Just recall: FED was talking about pulling back QE and IR hike in early 2013 Now it is after more than 4 years, is the IR in US very high? ​ even IF ECB pull back QE and hike IR, the European economies will falter, what will ECB do?
Useful To Me  Not Useful To Me
chengwh1 Elite	12-Jul-2017 11:10        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Tq Roger,... after scouring for infos here and there, I collected the following three risks pertaining to IREIT Global :- 1) interest rate risk, relatedto gearing risk. 2) tenant concentration risk, more than 50% of the rental collected is from Deutche Telecoms. 3) exchange rate risk, due to rentals being collecyed in the Euros, but paid out in SGD here in SG. But I did not read-up on any hedging activities put in place. Appreciated comments please,... quite keen on this counter, actually,.... RogerTech      ( Date: 11-Jul-2017 14:15) Posted: Just recall: FED was talking about pulling back QE and IR hike in early 2013 Now it is after more than 4 years, is the IR in US very high? ​ even IF ECB pull back QE and hike IR, the European economies will falter, what will ECB do?
Useful To Me  Not Useful To Me
laksaman57 Supreme	11-Jul-2017 16:34        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Perpetual dpu collection
Useful To Me  Not Useful To Me
RogerTech Member	11-Jul-2017 14:15        RogerTech About Contact  Quote this Post!
x 0   x 0  Alert Admin	Just recall: FED was talking about pulling back QE and IR hike in early 2013 Now it is after more than 4 years, is the IR in US very high? ​ even IF ECB pull back QE and hike IR, the European economies will falter, what will ECB do?
Useful To Me  Not Useful To Me
chengwh1 Elite	11-Jul-2017 12:49        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	But,.... the ECB and Mario Draghi are not talking about pulling back QE, and then soon,... may increase Euro$  borrowing rates too,... Isn' t this a ticking timebomb ?? RogerTech      ( Date: 10-Jul-2017 20:21) Posted: Due to the QE/Ultra-low interest rate in EU, higher gear is NOT a bad thing as long as the return on borrowed EUR$ is > > I.R. ​ the same arguments apply in Japan ! (i.e. ACCORDIA GOLF TRUST).
Useful To Me  Not Useful To Me
laksaman57 Supreme	11-Jul-2017 12:27        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	80% Accordia Golf Trust properties are FREEHOLD. 👍 RogerTech      ( Date: 10-Jul-2017 20:21) Posted: Due to the QE/Ultra-low interest rate in EU, higher gear is NOT a bad thing as long as the return on borrowed EUR$ is > > I.R. ​ the same arguments apply in Japan ! (i.e. ACCORDIA GOLF TRUST).
Useful To Me  Not Useful To Me
laksaman57 Supreme	11-Jul-2017 09:03        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	100% properties are FREEHOLD 👍
Useful To Me  Not Useful To Me
RogerTech Member	10-Jul-2017 20:21        RogerTech About Contact  Quote this Post!
x 0   x 0  Alert Admin	Due to the QE/Ultra-low interest rate in EU, higher gear is NOT a bad thing as long as the return on borrowed EUR$ is > > I.R. ​ the same arguments apply in Japan ! (i.e. ACCORDIA GOLF TRUST).
Useful To Me  Not Useful To Me
laksaman57 Supreme	10-Jul-2017 19:44        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	These days perpetual bond are popular. chengwh1      ( Date: 07-Jul-2017 11:07) Posted: Attended the UOB Privileged Conversation last night and heard that The EU is really good and cheap now for us to invest into. Which immediately brings to mind this counter. BUT............the big thorn abt this ctr is its gearing ratio - 41+%. What do you guys think ??
Useful To Me  Not Useful To Me
chengwh1 Elite	07-Jul-2017 11:07        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Attended the UOB Privileged Conversation last night and heard that The EU is really good and cheap now for us to invest into. Which immediately brings to mind this counter. BUT............the big thorn abt this ctr is its gearing ratio - 41+%. What do you guys think ??
Useful To Me  Not Useful To Me
marubozu1688 Master	25-Apr-2017 18:15        marubozu1688 About Contact  Quote this Post! Style: Combined   Mood: Yells: "Be humble in front of Mr. Market."
x 0   x 0  Alert Admin	iREIT Global compares to other Office REIT. http://mystocksinvesting.com/singapore-reits/office-sector/singapore-reit-office-sector-still-under-value-in-general/
Useful To Me  Not Useful To Me
marubozu1688 Master	06-Nov-2016 14:12        marubozu1688 About Contact  Quote this Post! Style: Combined   Mood: Yells: "Be humble in front of Mr. Market."
x 0   x 0  Alert Admin	Highest Gearing Ratio is Croesus Retail Trust (45.3%), iREIT Global (41.8%), Sabana REIT (41.5%), Cache Logistic Trust (41.2%), Ascott REIT (41.0%) and OUE Commercial REIT (40.8%)   http://mystocksinvesting.com/singapore-reits/singapore-reit-fundamental-analysis-comparison-table-5-november-2016/
Useful To Me  Not Useful To Me

                                                         First   < Newer   441-460 of 478   Older>   Last