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Same thing for Manulife REIT. Price drop after the ex-dividend today and lower price of the average price during the last couple of months....
eagleeyes1989 ( Date: 16-Feb-2021 17:51) Posted:
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non stop selling since recent results release. this is despite the higher DPU and good performance.
like something wrong.
like something wrong.
Keppel Pacific Oak US Reit H2 DPU up 4% to 3.13 US cents
KEPPEL Pacific Oak US Reit (KORE) posted a distribution per unit (DPU) of 3.13 US cents for the second half of its fiscal year ended December, up 4 per cent from 3.01 US cents in the corresponding period last year.
This lifts the Reit' s DPU for FY 2020 to 6.23 US cents, some 3.7 per cent higher than 6.01 US cents in FY2019.
Distributable income for the period rose 13.4 per cent year on year to US$29.5 million from US$26.0 million last year.
The Reit said the increase was driven primarily by contributions from its property One Twenty Five in Dallas, Texas, which was acquired in November 2019, as well as from its proactive efforts to drive leasing, built-in rental escalations and positive rental reversion across the its portfolio.
Gross revenue for H2 increased by 7.7 per cent to US$69.1 million from US$64.2 million in the year-ago period. Again, KORE said this was due to the One Twenty Five property, which contributed six months' worth of revenue to H2, up from two months in the corresponding period last year.
KORE added that recoveries income was also higher as a result of higher recoverable property expenses.
Property expenses for the period rose 9.4 per cent to US$28.0 million from US$25.6 million last year, due to higher expenses incurred from One Twenty Five, as well as higher year-o-year property taxes and other property expenses for the Reit' s existing portfolio.
Consequently, net property income for H2 rose by 6.6 per cent to US$41.1 million from US$38.6 million in H2 FY 2019.
In FY 2020, KORE committed approximately 367,000 sq ft of office space, equivalent to about 7.8 per cent of its total portfolio by net lettable area (NLA).
Committed occupancy of the its portfolio stood at 92.3 per cent as at end-December 2020, and its rental reversion for FY 2020 was 10.2 per cent.
The weighted average lease expiry by cash rental income (CRI) for KORE' s portfolio was 3.8 years. The Reit added that its tenant concentration risk remains low, with the top 10 tenants accounting for only 20.2 per cent of CRI.
In its outlook statement, KORE' s manager said its suburban office buildings and business campuses are well positioned to benefit from this potential shift away from downtown and central business district locations, given that businesses are re-evaluating their space needs.
The manager added that the Reit' s exposure to historically fast-expanding tech hubs provides further income resilience, as businesses accelerate their digital-transformation strategies driven by the pandemic.
Dividends Yield for the year is over 8%, not to forget that it is during the Covid crisis. Very good returns, indeed. Keep it up.
Keppel Pacific Oak US Reit' s distributable income up 18.5% in Q3
KEPPEL Pacific Oak US Reit (KORE) on Tuesday posted distributable income of US$14.7 million for its third quarter, up 18.5 per cent from a year ago.
In an operational update, gross revenue rose 13.5 per cent to US$34.5 million, while net property income went up 10.8 per cent to US$20.5 million.
The Reit manager attributed the growth to contributions from One Twenty Five in Dallas, a Class-A office development which was acquired last November, as well as new and expansion leases from the tech hubs of Seattle and Denver.
KORE leased 49,600 sq ft of space in the third quarter, mainly in Seattle, Houston and Atlanta, bringing the total space leased in the first nine months of this year (9M) to 245,400 sq ft. This was mostly driven by demand from the tech and professional-services sector.
For 9M 2020, the committed occupancy of the portfolio stood at 92.8 per cent its weighted lease average expiry was 3.9 years by net lettable area.
The Reit collected 98 per cent of rents in the third quarter, with rent deferments granted in the year to date representing about 5.2 per cent of net lettable area.
The manager said that income resilience continues to be supported by a " highly diversified tenant base with low tenant concentration risk" : its retail exposure is less than 2 per cent of cash rental income, while co-working tenants make up about 2 per cent. Less than 1 per cent belong to oil and gas tenants.
As at Sept 30, 2020, KORE' s buildings and business campuses in the tech hubs of Seattle, Austin and Denver contribute 63 per cent of net property income. The bulk of its tenants belong to high-growth and defensive sectors, with those from technology, professional services and financial services accounting for almost 80 per cent by net lettable area.
The Reit has a gearing ratio of 37.7 per cent, with no long-term refinancing requirements until Nov 2022. Its cash and undrawn facilities stood at US$109 million as at Sept 30, 2020.
Just received,.....
FINAL US TAX REGULATIONS ISSUED
Keppel Pacific Oak US REIT Management Pte. Ltd. (the &ldquo Manager&rdquo ), as manager of Keppel Pacific Oak US REIT (&ldquo KORE&rdquo ), refers to its announcements dated 27 December 2018 and 26 June 2019 relating to the regulations under Section 267A of the United States Internal Revenue Code of 1986, as amended, and wishes to announce that the final regulations were issued on 7 April 2020 (the &ldquo Final Regulations&rdquo ).
Arising from the Final Regulations, the Manager has decided to revert to a structure which does not involve the Barbados entities, largely following the structure which KORE used when it was initially listed, and which was disclosed in its prospectus dated 2 November 2017. The restructuring is being implemented and the Manager will make an announcement once it is completed.
The costs of the restructuring are not expected to have a material impact on the consolidated net tangible assets or distributions per unit of KORE.
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Will the 30% Withholding Tax be introduced after this ?
FINAL US TAX REGULATIONS ISSUED
Keppel Pacific Oak US REIT Management Pte. Ltd. (the &ldquo Manager&rdquo ), as manager of Keppel Pacific Oak US REIT (&ldquo KORE&rdquo ), refers to its announcements dated 27 December 2018 and 26 June 2019 relating to the regulations under Section 267A of the United States Internal Revenue Code of 1986, as amended, and wishes to announce that the final regulations were issued on 7 April 2020 (the &ldquo Final Regulations&rdquo ).
Arising from the Final Regulations, the Manager has decided to revert to a structure which does not involve the Barbados entities, largely following the structure which KORE used when it was initially listed, and which was disclosed in its prospectus dated 2 November 2017. The restructuring is being implemented and the Manager will make an announcement once it is completed.
The costs of the restructuring are not expected to have a material impact on the consolidated net tangible assets or distributions per unit of KORE.
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Will the 30% Withholding Tax be introduced after this ?
USA coronavirus infection rate is going down, this should be back to minimally 60-70 cents soon.
this is a good levels to hunt for yields..dividends..
Yes. Price is irrelevant, sustainable forward DPU is what I' m looking at too.
chengwh1 ( Date: 11-Sep-2019 15:01) Posted:
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In the proforma financial effects illustrations, $0.71 has been used as the pp price to detect the effects. A possibility is an increase 0f 0.06c resulting from this acquisition. BUT : the period of reference used here is from Listing Date (November 2017) till December 31, 2018. There has been too many movements during that period, as well as movements in the first qtr of this year that may render the calculations inaccurate !
As a unitholder, I am, certainly,... hoping for more dpu !
As a unitholder, I am, certainly,... hoping for more dpu !
marketuncle ( Date: 11-Sep-2019 11:25) Posted:
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technically dpu accretive and also higher dpu from tax benefits, though unknown price of the private placement that' s giving some uncertainty.
chengwh1 ( Date: 11-Sep-2019 00:48) Posted:
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But, everywhere,...there is mentin that this acq is DPU-ACCRETIVE. This is a good change, from being yield-accretive most of the time when there has been an acq.. Using the period since Listing at end-2017, till end-December, 2018 as reference, the ' additional' dpu that will be generated is 0.06c per unit. Is this good enough, bros ? Any opinions pls?
marketuncle ( Date: 06-Sep-2019 21:02) Posted:
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No wonder price gone down a fair bit recently. Private placement to fund new purchase.
https://www.businesstimes.com.sg/companies-markets/keppel-pacific-oak-us-reit-buys-dallas-office-complex-for-us1015m?xtor=CS3-24
Same Korpse same Kon.
Ok,... tq uncle,...today,.. this ctr went up by 1.3% to last Friday' s close,...
marketuncle ( Date: 18-Aug-2019 19:21) Posted:
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I summarize the key point in the REITSweek article. You can open a trial account to read more, foc.
chengwh1 ( Date: 18-Aug-2019 11:21) Posted:
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Tqvm mktuncle for the info,... appreciated it,... is there an article on this please ??
marketuncle ( Date: 18-Aug-2019 10:46) Posted:
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The affiliate is Futurewei, which is KBS' s eighth largest tenant by cash rental income (but just 1.6% of the total as of 30 June 2019).
chengwh1 ( Date: 17-Aug-2019 20:49) Posted:
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Yes - a new phenomenon,... lots of new jobs being created,.. BUT,... things are not getting more expensive,... there are not a ot of values out there,...
laksaman57 ( Date: 17-Aug-2019 10:07) Posted:
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Yeah,... thank you, bro,.... I saw this too,... now we know why KKBS USR' s price has been dropping the past two weeks from a high of 80c and beyond,...but I can' t see the full report because I have not subscribed to REITsWeek,... do you have the article pls ?
laksaman57 ( Date: 17-Aug-2019 10:07) Posted:
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