3 Real Estate Investment Trusts Paying Distributions This Week
There are three real estate investment trusts (REITs) that will be going ex-dividend in the next few days. In other words, you need to own them before a particular date to receive their distributions. Let’s take a look at them.
1. Tuesday, 7 November 2017
On Tuesday, OUE Hospitality Trust (SGX: SK7), will be going ex-dividend. The trust is a stapled group comprising of OUE Hospitality REIT and OUE Hospitality Business Trust (currently dormant). The REIT component owns two hotels – Mandarin Orchard Singapore and Crowne Plaza Changi Airport – and a retail mall, Mandarin Gallery.
OUE Hospitality Trust is dishing out 1.36 Singapore cents per stapled security for the third quarter.
For the three months ended 30 September 2017, gross revenue grew 5.4% year-on-year to S$34 million. Both hospitality and retail segments posted higher revenue for the quarter as compared to a year ago. Meanwhile, overall net property income (NPI) rose 3.8% to S$29.5 million due to higher NPI from the hospitality segment.
Units of OUE Hospitality Trust are currently going at S$0.81, translating to a historical price-to-book (PB) ratio of 1.07 and a distribution yield of 6.5%.
2. Wednesday, 8 November 2017
Far East Hospitality Trust (SGX: Q5T), whose REIT portfolio consists of eight hotels and four serviced residences located in Singapore, will be going ex-dividend on Wednesday.
It is giving out 1.03 Singapore cents per stapled security for the third quarter.
For the three months to 30 September 2017, gross revenue fell 2% year-on-year to S$27.5 million while NPI declined 2.3% to S$24.8 million. The fall in gross revenue was due to lower master lease rental from the hotels and serviced residences, and weaker performance from the retail and office spaces.
Far East Hospitality Trust’s units are now selling at S$0.71, giving a PB ratio of 0.79 and a yield of 5.7%.
3. Wednesday, 8 November 2017
On the same day as Far East Hospitality Trust, Frasers Logistics and Industrial Trust (SGX: BUOU), will be ex-dividend. The REIT owns 61 Australian industrial assets in its portfolio.
The industrial REIT is paying out 1.68 Singapore cents per unit for the period from 6 July 2017 to 30 September 2017.
For the financial year ended 30 September 2017, gross revenue came in at A$206.1 million, up 1.1% as compared to the initial public offering forecast while the adjusted NPI was A$157.5 million, 0.8% above forecast.
Units of Frasers Logistics and Industrial Trust are now going at S$1.145. This translates to a PB ratio of 1.22 and a distribution yield of 7.7%.