IREIT Global Expects Softer Demand Moving Forward

Updated: Nov 29, 2019

Key Highlights:

  • IREIT Global (SGX: UD1U)'s 3Q19 dropped 4.9%

  • The annualised yield and price to book ratio are 6.9% and 1.1 respectively

1. Dividends

Net property income grew 2.8% to $7.7m. This was mainly contributed by the finalization of prior year service charge reconciliation.

The annualised yield is 6.9%. The overall DPU trend is still going downwards.

2. Portfolio

The portfolio leverage is currently at the healthy side of 36.5%. The interest cost is at 1.5%,

It is currently trading at a price to book ratio of 1.1.

3. Growth Catalyst

Moving forward, the REIT manager expects the demand will slow down. The management is looking to manage its leases actively and carry out various s to asset enhancement initiatives to maintain and improve the retention rate. Besides, the management is also looking to acquire new assets to enhance its portfolio.

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