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https://www.marketwatch.com/story/dow-drops-450-points-as-stock-market-losses-hit-intraday-lows-with-less-a-half-hour-of-trade-2018-10-24
Morever with recent US market volatility and trade war, people may prefer to conserve cash to average down their holding, in the event of a market crash. Dyodd.
Probably market doesn' t like rights issuance during this FED rate hike enviroment.
Though not apple to apple comparison, OUE commercial reit recently issued rights @0.456 but its trading at 0.470 now
Dyodd
Though not apple to apple comparison, OUE commercial reit recently issued rights @0.456 but its trading at 0.470 now
Dyodd
The sell down continues. Looks like not much interest in the rights issue. Closing price is below the ex-rights price of USD $0.666.
Wonder why?
Wonder why?
Build-in rental escalation may drive up vacancy rate
chengwh1 ( Date: 24-Oct-2018 12:20) Posted:
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Blue line seems to be turning up slightly since 2015....though Asking Rents are rising too on Pg-10. Net Absortion is lower than Historical Completions on Pg-11.
laksaman57 ( Date: 24-Oct-2018 08:46) Posted:
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EC world reit recently was exemplary in exercising the right of first refusal to a property that's wasn't immediate accretive to dpu 👍 Good job
Retail investors need to savvy in differentiating between long-term accretion vs immediate accretion type of reit.
Am i seeing wrongly, slide 10 & 11 show vacancy rate creeping up
chengwh1 ( Date: 23-Oct-2018 19:48) Posted:
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Wonder why the mgr didnt go with the preferential offering which is accretive for dpu and nav.
And why the change in the right issue price from 0.59 to 0.50.
And why the change in the right issue price from 0.59 to 0.50.
chengwh1 ( Date: 23-Oct-2018 21:52) Posted:
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Pg-13 says if a Preferential Offering is done, the the dpu will rise and the nav per unit will remain quite constant, with only a 1.00 ct difference from pre-Acquisition.
However, if Rights Issue is done,... the dpu will drop AND the nav per unit will drop by 6 cts from pre-Acquisition.
Frankly,... I was hoping they' d do a Pref Offering.
But now, they are not only doing an R.I., but this R.I. is even worse than the R.I. shown on Pg-13.
However, if Rights Issue is done,... the dpu will drop AND the nav per unit will drop by 6 cts from pre-Acquisition.
Frankly,... I was hoping they' d do a Pref Offering.
But now, they are not only doing an R.I., but this R.I. is even worse than the R.I. shown on Pg-13.
laksaman57 ( Date: 23-Oct-2018 18:59) Posted:
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Unless there is a guarantor to claim of " long term accretion" , one should be extra prudent toward making their investment decision.
chengwh1 ( Date: 23-Oct-2018 19:48) Posted:
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I read somewhere in the documents that there is a rental escalation of 2% to 3% yearly for the properties inside Westpark. But,... wouldn' t this 2% to 3% yearly is just right to cover inflation and yearly increase in property expenses ?
Yeah,... come to think of it,.. recently, I did hear of certain REIT acquisitions which are talking about being yield-accretive in the long term instead of being immediately after acquisition.
Yeah,... come to think of it,.. recently, I did hear of certain REIT acquisitions which are talking about being yield-accretive in the long term instead of being immediately after acquisition.
laksaman57 ( Date: 23-Oct-2018 18:59) Posted:
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Pg-13 of presentation already highlighted show both dpu and nav fell, post-right/post aquisition.
But strangely it heading was " Accretive Acquisition Positioned For Long Term Growth"
Could it be that only in the long term then its accretive ?
But strangely it heading was " Accretive Acquisition Positioned For Long Term Growth"
Could it be that only in the long term then its accretive ?
chengwh1 ( Date: 23-Oct-2018 18:17) Posted:
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After doing some analysis and searching here and there, I calculated that the pro forma dpu that would have been paid out from listing day, November 9th., 2017 till June 30th., 2018 would be ONLY 3.60 US Cts. That' s a 5.76% drop from the actual amount of 3.82 US Cts received recently.
This WEstpark portfolio acquisition is NOT dpu-accretive,... or did I miss something ??
This WEstpark portfolio acquisition is NOT dpu-accretive,... or did I miss something ??
Correct me if i am wrong, but it look like the quantity of new units being issued is more than what the presentation illustrated..
The right issuance will bring in USD93.1million @ usd0.50/right from 186,236,224 new units
Presentation illustration was USD102.3million @ usd0.59 which translated into 173,389,830 new units.
Then dilution can be expected to be more than presented and pro forma post aquisition dpu should be lower. Dyodd.
The right issuance will bring in USD93.1million @ usd0.50/right from 186,236,224 new units
Presentation illustration was USD102.3million @ usd0.59 which translated into 173,389,830 new units.
Then dilution can be expected to be more than presented and pro forma post aquisition dpu should be lower. Dyodd.
chengwh1 ( Date: 23-Oct-2018 15:09) Posted:
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This reit seem to have a life of its own. Rushing thing a bit too fast before it prove itself stable. Wonder why 😞 . Dyodd
The RI price is now lowered to 50c. What would be the resultant dpu now post-acquisition ?
chengwh1 ( Date: 23-Oct-2018 15:09) Posted:
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On pg 13 of the presentation slides, the illustrative Rights Issue price used is USD0.59, which will result in a dpu drop to 3.64c, which is LOWER than the current 3.82c (being the period from Jan 1st till June 30th, ... so, what happens now with the RI price having been lowered to 0.50c ? What would be the resultant in ur dpy now in
post-Rights Issue ?
I can' t semed to find this working anywhere....
post-Rights Issue ?
I can' t semed to find this working anywhere....
laksaman57 ( Date: 23-Oct-2018 10:37) Posted:
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Hehe,... so I' m right, bro,....
laksaman57 ( Date: 23-Oct-2018 10:12) Posted:
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