5 Reliable Singapore REITs with Distribution Yields of 5.2% or More

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5 Reliable Singapore REITs with Distribution Yields of 5.2% or More

The Smart Investor01-08

Although the REIT sector was battered by headwinds this year, REITs continue to act as a reliable source of dividends.This is because REITs are mandated to pay out at least 90% of their earnings as ...

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href=https://thesmartinvestor.com.sg/5-reliable-singapore-reits-with-distribution-yields-of-5-2-or-more/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Although the REIT sector was battered by headwinds this year, REITs continue to act as a reliable source of dividends.This is because REITs are mandated to pay out at least 90% of their earnings as ...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/5-reliable-singapore-reits-with-distribution-yields-of-5-2-or-more/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"C38U.SI","symbol_name":"凯德商用新加坡信托","start_time":0,"source_url":"https://thesmartinvestor.com.sg/5-reliable-singapore-reits-with-distribution-yields-of-5-2-or-more/","article_id":"2401321385","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2401321385","pubTimestamp":1704678300,"sourceInfo":{"source_id":"thesmartinvestor_highlight","name":"The Smart Investor"},"weMediaInfo":null,"summary":"Here are five dependable Singapore REITs that are doling out yields of 5.2% or 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that you stick with REITs that have strong sponsors, quality assets, and long track records.Here are five dependable Singapore REITs with distribution yields of 5.5% or higher.Mapletree Industrial Trust (SGX: ME8U)Mapletree Industrial Trust, or MIT, is an industrial REIT with a portfolio of 56 properties in the US, 85 properties in Singapore, and one property in Japan.Its assets under management (AUM) stood at S$9.2 billion as of 30 September 2023.MIT reported a mixed set of earnings for the first half of fiscal 2024 (1H FY2024) ending 30 September 2023.Gross revenue inched up 0.4% year on year to S$344.7 million, partly due to the higher distribution declared by a joint venture and divestment gain from 65 Tech Park Crescent on the finalisation of tax treatment.Net property income (NPI), however, slipped 0.3% year on year to S$259.4 million on higher operating expenses.Distribution per unit (DPU) fell by 2% year on year to S$0.0671 on an enlarged unit base.MIT’s trailing 12-month DPU stood at S$0.1343, giving its units a trailing distribution yield of 5.4%.The REIT manager had just concluded the acquisition of an Osaka data centre which will see a full quarter of rental income accruing to the REIT in 3Q FY2024.MIT’s occupancy level remained decent at 93.2% with a positive portfolio weighted average rental reversion of 8.8% for renewal leases.Gearing remained fair at 37.9%, allowing more debt headroom for yield-accretive acquisitions.Frasers Logistics & Commercial Trust (SGX: BUOU)Frasers Logistics & Commercial Trust, or FLCT, is an industrial and commercial REIT with a portfolio of 107 properties in five countries – Singapore, the UK, Australia, the Netherlands, and Germany.Its AUM stood at around S$6.4 billion as of 30 September 2023.FLCT’s fiscal 2023 (FY2023) ending 30 September 2023 saw a downbeat performance.Revenue fell by 6.5% year on year to S$420.8 million while NPI slid 9% year on year to S$311.4 million.DPU declined by 7.6% year on year to S$0.0704, giving the REIT’s units a trailing distribution yield of 6.2%.On a positive note, FLCT reported a strong 18.9% positive rental reversion across its portfolio for FY2023.Aggregate leverage also remained low at 30.2% with the cost of borrowings at 2.2%.The REIT has no major refinancing for 1H FY2024 with facilities in place to refinance all the loans in FY2024.CapitaLand Integrated Commercial Trust (SGX: C38U)CapitaLand Integrated Commercial Trust, or CICT, is a retail and commercial REIT with 21 properties in Singapore, two in Frankfurt, and three in Sydney.Total AUM stood at S$24.2 billion as of 31 December 2022.CICT saw its DPU rise from S$0.0522 to S$0.053 for 1H 2023, and its trailing 12-month DPU stood at S$0.1066.Units of the REIT provide investors with a 5.2% trailing distribution yield.For the first nine months of 2023 (9M 2023), CICT pulled off a respectable performance.Gross revenue rose 9.8% year on year to S$1.2 billion while NPI rose 6.8% year on year to S$827.3 million.Both its retail and office segments also enjoyed a positive rental reversion of 7.8% and 8.8%, respectively.Frasers Centrepoint Trust (SGX: J69U)Frasers Centrepoint Trust, or FCT, is a retail REIT with a portfolio of nine suburban retail malls and one office property in Singapore.Its AUM was S$6.5 billion as of 31 October 2022.FY2023 saw FCT’s gross revenue edge up 3.6% year on year to S$369.7 million with NPI rising 2.7% year on year to S$265.6 million.DPU came in at S$0.1215, giving units of the retail REIT a historical distribution yield of 5.4%.FCT saw committed occupancy hit 99.7% while the committed reversion rate came in at a positive 4.7%, demonstrating the REIT’s resilience.Shopper traffic for FY2023 also rose 24.7% year on year with tenant sales improving by 7.3% year on year.Aggregate leverage will reduce to 36.1% after the completion of the divestment of Changi City Point and units of Hektar REIT (KLSE: 5121).CapitaLand Ascendas REIT (SGX: A17U)CapitaLand Ascendas REIT, or CLAR, is Singapore’s oldest industrial REIT.The REIT owns a portfolio of 230 properties in Singapore, Australia, the US, the UK, and Europe worth S$17.2 billion as of 30 September 2023.CLAR’s trailing 12-month DPU stood at S$0.15644, giving its units a trailing distribution yield of 5.2%.The industrial REIT’s 3Q 2023 business update saw portfolio occupancy stay high at 94.5% while the portfolio enjoyed a positive rental reversion of 10.2% for the quarter.CLAR has ongoing projects to improve the quality of its portfolio worth S$600 million including three redevelopments in Singapore and a convert-to-suit property in the US.Gearing stood at 37.2% as of 30 September 2023 with an all-in average cost of debt of 3.3%, allowing the REIT to utilise debt to fund further acquisitions and redevelopments.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":18,"commentSize":0,"repostSize":1,"favoriteSize":4,"likeStatus":false,"favoriteStatus":false}}