Cache Logistics Trust’s Latest Earnings: What Investors Need To Know | The Motley Fool Singapore: "Business highlights
Cache Logistics Trust ended the reporting quarter with an occupancy level of 95.2%, a considerable decline from the selfsame figure of 99.5% achieved a year ago.
It’s not all bad news for the REIT. 97% of lease expiries in FY2015 have been renewed or replaced. Nearly half of Cache Logistics Trust’s leases (by both net lettable area and gross rental income) would expire from 2019 and beyond.
Cache Logistics Trust had proposed an acquisition of a A$27 million (around S$27.1 million) property in Australia earlier this month. This will be the REIT’s fourth acquisition of a warehouse in Australia. The property in question is a modern single-storey 13,363 square metres warehouse. It is fully-leased till August 2023 with annual rental escalation of 4%.
In the earnings release, Cache Logistics Trust gave some insights on the outlook for its market:
“The industrial property market conditions are expected to remain challenging in view of the imbalance in the supply and demand of industrial space, uncertain macroeconomic developments and government regulations in place.”
Based on Cache Logistics Trust’s last traded price of S$1.025 on Wednesday, the REIT is valued at 1.06 times its latest book value. An annualized DPU of 8.49 Singapore cents translates to a distribution yield of 8.29% at that price."
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