iREIT Global

iREIT Global reports 2.7% lower 1Q DPU of 1.42 cents on higher expenses, forex changes

SINGAPORE (May 16): The manager of iREIT Global has declared a 1Q19 distribution per unit (DPU) 1.42 cents, declining 2.7% from 1.46 cents a year ago due to higher property operating expenses and a weaker SGD/EUR exchange rate.

This represents an annualised distribution yield of 7.6% based on the REIT’s closing price of 74.5 cents on the last trading day of 1Q.  

In euro terms, DPU for 1Q fell 1.1% to 0.89 euro cent from 0.90 euro cent a year ago due to higher property operating expenses.

SGX explains why Singapore is Asia's largest global REIT platform

(May 6): On March 27, during Manulife US Real Estate Investment Trust’s Investor Day event, Ronald Tan, director of Equity Capital Market at the Singapore Exchange, asked the audience a few questions. It was to gauge the public’s reception to various asset classes. Who would want another office REIT, Tan asked. Almost the entire audience of 400 raised their hands. MUST is an office REIT and the audience comprised MUST unitholders.

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IREIT Global's 3Q DPU unchanged at 1.42 cents after hedging; says no more lease expiries in 2019

SINGAPORE (Nov 12): The manager of IREIT Global has announced a 3Q18 distribution per unit (DPU) of 1.42 cents, unchanged from a year ago in SGD terms after taking into account forward foreign currency exchange contracts entered into to hedge against currency risks for distribution to unitholders.  

In terms of the euro currency alone, DPU for 3Q was 0.88 euro cent, down 4.2% from 0.92 euro cent in the same period a year ago.

iREIT Global posts 1.4% rise in 1Q DPU to 1.46 cents

SINGAPORE (May 10): The manager of iREIT Global has declared a DPU for 1Q18 of 1.46 cents, 1.4% higher from 1.44 cents in 1Q17.

This was mainly lifted by more favourable average foreign currency exchange rates between the EUR and SGD.

In EUR terms, the REIT’s DPU dropped 3.2% to 0.9 € cents from 0.93 € cents a year ago.

The amount available for distribution to unitholders were 2.9% lower at €6.32 million ($10.1 million), compared to €6.50 million in the previous year.

Gross revenue dropped 2.0% to €8.58 million from €8.76 million last year.

IREIT Global declares 7.6% lower 4Q DPU of 1.46 cents

SINGAPORE (Feb 14): The manager of IREIT Global has declared a DPU of 1.46 cents for 4Q17, 7.6% lower than the distribution of 1.58 cents in 4Q16.

This brings FY17 DPU to 5.77 cents, 8.8% lower compared to the DPU of 6.33 cents declared in FY16.

IREIT Global Group says net property income and distributable income grew by 0.3% and 3.1% year-on-year, respectively, to EUR7.9 million ($12.9 million) and EUR6.6 million in 4Q17.

IREIT Global posts 9.6% decline in 3Q DPU to 1.42 cents after hedging and income retention

SINGAPORE (Nov 10): The manager of IREIT Global has announced a distribution per unit (DPU) of 1.42 cents for 3Q17, down 9.6% from its 3Q16 DPU of 1.57 cents.

This comes after taking into consideration forward foreign currency exchange contracts entered into to hedge the currency risk for distribution to unitholders, as well as the retention of part of the REIT’s distributable income for the period.

Without factoring in retention, DPU for 3Q would have been 1.6 cents, up 1.9% from 1.57 cents a year ago.

iREIT-linked Tikehau Capital hires scandal-stricken French presidential candidate Fillon

SINGAPORE (Sept 7): Tikehau Capital started with just €4 million ($6.4 million) in assets under management in 2004 but is now one of Europe’s fastest growing asset managers with €10.3bn in AUM.

Its ambition? To build a “Blackstone of Europe” with €20 billion in assets by 2020.

Tikehau is organised around four main business lines – real estate, private equity, liquid strategies as well as private debt, which accounts for about half its assets.

These 3 trusts have generated the highest yields as SGX newcomers

SINGAPORE (Aug 22): Over the past five years, as many 15 trusts – comprising 10 real estate investment trusts (REITs) and stapled trusts – have listed on the Singapore Exchange (SGX) to make up about one quarter of the combined market capitalisation of listed REITs and stapled trusts in Singapore.

These trusts invest in property assets spanning hotels, shopping centres, office towers, industrial parks as well as high-tech and e-commerce facilities.

REITs holding foreign assets gaining traction on higher yields, good growth

This article appears in Issue 784 (June 19) of The Edge Singapore which is on sale now

DBS puts IREIT on ‘hold’ over gearing and acquisition plans after new mandate

SINGAPORE (May 24): DBS is maintaining its “hold” on IREIT Global with a 75 cents target price even as a new sponsor comes on board.

While offering an attractive yield of over 7.5%, uncertainty over the acquisitions to be made by IREIT’s new sponsor Tikehau Capital, a European investment manager, will likely cap IREIT’s near-term share price performance.

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