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 REIT V2, Real Estate Investment Trust

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wongmunkeong
post Jul 25 2011, 06:39 AM

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QUOTE(CP88 @ Jul 24 2011, 10:17 PM)
Wonder when is Arreit gonna declare another dividend since all the REITS are reporting their report card...  hmm.gif
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Hm.. not only that, anyone noticed the P/E is missing from the online screen or is it just HLeB's? For SUNREIT i understand lar, less than a year old but ARREIT also no P/E?

This post has been edited by wongmunkeong: Jul 25 2011, 06:40 AM


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wongmunkeong
post Jul 25 2011, 10:36 AM

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QUOTE(dopp @ Jul 25 2011, 10:10 AM)
hmm i dont have the column at all..  how do u get that view
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U can customize your view by clicking on "Customize Columns", the icon to the left of the calculator (the bar below "Search Stocks").
wongmunkeong
post Jul 25 2011, 01:10 PM

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QUOTE(Hansel @ Jul 25 2011, 01:06 PM)
Sharp observation there, WongMK.

I too see quite some left-outs every now and then, and here and there too with these counters. I wondered if these 'non-disclosures' are done deliberately.
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Hansel, the last i saw this happening (now U see it, now U dont for P/E) was Shell.. and shit happened! cry.gif
wongmunkeong
post Jul 25 2011, 05:51 PM

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QUOTE(teehk_tee @ Jul 25 2011, 05:44 PM)
i think it's ok if u see their distribution and income statement. they literally give out all their money after deducting for managers / trustee fee.

looking at their ARREIT's recent distribution statement, after distribution retained income is RM546,608 / 0.00953 Sen per Unit.

going by HLe's rounding up system it's negligible earnings hence P/E is that way.. at least that's my presumption. thing with reits is different reits have different payout ratios, importance is consistency, yield, occupancy & tenants, and income growth. smile.gif

2 sens.
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Bro Teehk_Tee, we were pointing to HLeB's screen with 0 (zero) P/E for ARREIT wor

http://forum.lowyat.net/topic/1362442/+2306&#
wongmunkeong
post Jul 25 2011, 06:55 PM

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QUOTE(teehk_tee @ Jul 25 2011, 06:14 PM)
im on Hle also.
P/E is N/A right..
the system calculates P/E as market cap over Net Profit. in the quarterly reports posted to bursa the declared net profit was 0.000 while the 2 rows below are correct, income = 1.91 sen/unit, distribution = 1.81 sen/unit.
i think is selective disclosure or accounting practice. because in the distribution statements posted along with the cheques it does declare a slight 0.1 sen income retained (no mention of profit).

selective disclosure why.. probably because PER would be 248 with that tiny profit they are ploughing into retained earnings.

but im no accountant. the disclosure on my distribution statement has been transparent, not sure whether it is something between bursa and the trustee?

certainly is a good question to ask... maybe i should go ask my accountant friends. hmm.gif
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rclxub.gif bwhahaha - sorry ar bro Teehk_Tee. What U said earlier and above - way WAY over my head now (i need coffee.... zombified).
wongmunkeong
post Jul 25 2011, 08:09 PM

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QUOTE(gark @ Jul 25 2011, 07:06 PM)
For REIT's you don't need to see PE, because PE can be distorted by valuation gains, which you can see but not touch.  tongue.gif

DY is the better term to compare the performance of REITs, and also DY growth & Gearing. Other than that PE, BV, cash etc hold not much value.  laugh.gif
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Aiya bro Gark, i'm a typical kiasi Cina beng mar. All other investments and trades can see P/E - this one buta buta elek, chicken shit lar, especially when this happened to Shell several years back. Floor may be full of feathers tongue.gif

The more info / data, the better heheh brows.gif

This post has been edited by wongmunkeong: Jul 25 2011, 08:10 PM
wongmunkeong
post Jul 26 2011, 03:00 PM

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QUOTE(gark @ Jul 26 2011, 02:37 PM)
Wah.. you buy based on your platform's PE ah? That is very very dangerous, often the PE shown on the platform is not accurate. You have to read the P&L sheet. There are many items such as one off gains, revaluation, currency difference etc which affect the PE. Never buy any stock based on platform PE, read the P&L.. and especially operating cashflow and then conclude your PE.

This applies to all stocks and not only REIT's.  sweat.gif
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Different platforms, different P/E calculations mar - i aint suicidal.

P/E on the platform's just one of several things i look at. If all else being equal, i'll take the lower P/E thank U very much tongue.gif. Born the day BEFORE YESTERDAY blush.gif (watashiwa not too bright but a bit brighter than the fellow born yesterday)


Added on July 26, 2011, 3:08 pm
QUOTE(cherroy @ Jul 26 2011, 02:49 PM)


Added on July 26, 2011, 2:50 pm

Do not rely on any ratio published in media, or any platform.
Count your own.
Many are not updating fast enough.
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Boss Cherroy - agreed.. unfortunately time's not on my side. Thus, for me most ratios are taken at "book / screen level" only - i process only the historical EPS, PER and ranking them ratios (sounds like brewing a witch's cauldron tongue.gif) to create a filter list + decide what's the value i'd buy at.

Heheh - my only saving grace is i do check from at least 3 sources/platform + at least 3 years' historical data (if not more), U know them accountants lar - cooking by them, interpreting by them, buta buta come up with more disclosures and weird calcs also by them rclxub.gif At least they cant play much with 3 or more continuous years' of data (eg. ROE spikes due to asset liquidation).

This post has been edited by wongmunkeong: Jul 26 2011, 03:10 PM
wongmunkeong
post Jul 26 2011, 05:36 PM

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QUOTE(gark @ Jul 26 2011, 04:25 PM)
There are many things to consider other then PE, if just taking the lowest PE to be the best bet, then don't you think anyone also can invest successfully. Heh, I never once before used the PE is the media or platform as a guide, as they are often misleading.

BTW, saw your blog. You a fellow SJ'er?  rclxms.gif
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Yup yup - P/E's like "last few" stuff as consideration, not the main ones.

Hhehe - U mean the blog on saline drips? biggrin.gif
Yeah - SJer, moved there in end 2007, nice place but a bit pricy (food-wise) VS PJ SS3 & Setia Alam. cry.gif

This post has been edited by wongmunkeong: Jul 26 2011, 05:38 PM
wongmunkeong
post Jul 26 2011, 05:45 PM

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QUOTE(cherroy @ Jul 26 2011, 04:45 PM)
My advice,
Do not use PER to screen all the stocks out there and find out stock or choose stock to invest solely from the PER ratio.

Familiar the stock you are targeting on.

Some may have low PER, due to some reason, like distrust on the financial report/management, or various kind of reason.
Some have high PER, due to premium investors willing to pay for the stock, due to strong confidence about company future, prudent management etc.

If PER is the concern, I can bet red chips out there have the lowest PER until you can't believe, single digit, PER 5x, 6x, also got.
So based on PER, they are good to buy/invest?


Added on July 26, 2011, 4:47 pmSolely using PER to invest can lead one into dead end.

In a good market, or bull market.
Good stocks generally may not be cheap across.
Cheap PER, may not a good stock.

A & B in similar industry, but business wise segment can be different.
So A has PER 14, B has PER 15.
Invest in B better?

No, we never can conclude such thing.
A may have better cash flow than B.
B can do business more in credit term, or B's customers can be weaker than A, resulted high receivables and weak cash flow in B book.
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Whoa.. long one biggrin.gif. Yup yup - suicidal lar if solely OR mainly based on PER.

FYI. my main filters are past 3 years (or more) ROE, D/E, Cashflow, Gross Margins, Stockholders' Equity growth rate, Sales growth rate. Then ancillaries are several years' of DPS vs EPS (to see payout ratio vs kept ratio). Finally, if all else "nearly the same" during a particular time segment, i'd take the lower current P/E lor biggrin.gif
wongmunkeong
post Jul 26 2011, 07:24 PM

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QUOTE(Bonescythe @ Jul 26 2011, 06:55 PM)
The REIT with unreasonable growth --> SUNREIT
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Both SUNREIT & AXREIT - painful lar if looking for DY% (div paid vs cost paid) tongue.gif.

AXREIT on my filter but so far, DY% wise, TWRREIT, BSDREIT seems to be leading (hehhe - note, i'm vested already in these 2).
wongmunkeong
post Jul 27 2011, 06:07 AM

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QUOTE(Evening @ Jul 26 2011, 10:30 PM)
Yes, I'm still holding the nominee account , my working place quite far to go down to bank, so i let bank to manage for me.
sweat.gif  if really the stamp duty going to charge me RM15++, then no choice i hv to choose back the cash distribution directly .

Haiz....deduct me RM5.50 rather better than let them deduct RM15++ for stamp duty.
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Bro Evening - which security firm's nominee account are U using that charges U $5.50 for the dividends ar? Or i missed something and the $5.50 = 10% single-tier tax at AXREIT's side before shooting out the gross dividend to U (via yr nominee a/c)?


This post has been edited by wongmunkeong: Jul 28 2011, 10:39 AM
wongmunkeong
post Jul 27 2011, 03:05 PM

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QUOTE(rayloo @ Jul 27 2011, 02:59 PM)
If I were you I would dispose all Tower REITs share, which actually I did 6 months ago. Due to the reason of declining demand of office lots since there are more newer buildings are coming up.

Therefore the future is known for limited growth to expect. Just my 2 cents.
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and when there's fear in the market.. crazy disposal.. value investors steps in tongue.gif
wongmunkeong
post Jul 27 2011, 03:12 PM

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QUOTE(Bonescythe @ Jul 27 2011, 03:06 PM)
Nothing to goreng, goreng REITs ? Hahaha
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Play DY% mar. Price plummets, and enter during fear = good DY% if div paid out doesnt plummet in same % as market price. Boney - U & i + most others here know market's price is not 100% reflective of actual business mar. Thus value hunters will definitely snap them up at certain price points tongue.gif

This post has been edited by wongmunkeong: Jul 27 2011, 03:12 PM
wongmunkeong
post Jul 27 2011, 03:25 PM

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QUOTE(Bonescythe @ Jul 27 2011, 03:18 PM)
Yea.. Slow and steady win the race..
No wonder I always lose.. Want fast fast fast.. Fast in fast out.. Sigh
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Wei - heard U making a killing at the other topic tongue.gif

Anyways, why not best of both worlds? Take 5% of yr net worth or portfolio and go trade? Scratches the itch + still controlled risk & growing. I bet U doing this while your slow & steady mountain keeps piling up brows.gif
wongmunkeong
post Jul 27 2011, 03:37 PM

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QUOTE(Bonescythe @ Jul 27 2011, 03:27 PM)
Sometime fast in fast out, will fall down and get hurt de leh sad.gif
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That's why gotta use protection (Entry & Exit rules) right? With a plan, U can avoid big injuries that will take U out for good. Minor bumps and scratches can heal easily in time, especially when U are controlling your exposure (sizing) and risk %. Right or right? tongue.gif

wongmunkeong
post Jul 27 2011, 04:08 PM

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QUOTE(gark @ Jul 27 2011, 03:58 PM)
Goreng REIT is a good strategy too.. but you need huge capital...and low trading fee. I have previously read someone's track record, they can get >5k per month consistently from goreng-ing REIT's  tongue.gif  rclxms.gif
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Good lord - really? Reverse methodology of warrants & options (leveraged to the hilt)?

Huge capital + low trading fees..in terms of net returns over capital exposed (employed) should be very very thin lor. May be worth the effort & risk if this capital is just a small part of his/her total net worth gua.

When loading up, how to ensure the volume doesnt move market price up and when unloading - how to ensure it doesn't move the market price down (such volume wor)?

This post has been edited by wongmunkeong: Jul 27 2011, 04:10 PM
wongmunkeong
post Jul 28 2011, 10:30 AM

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QUOTE(BrendaChee @ Jul 28 2011, 02:03 AM)
when is arreit next dividend? Seems big volume throwing at 0.91 everyday?

Pls advise
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Hi Brenda.
Just a thought - big volume throwing at $0.91 means there are buyers also absorbing at $0.91 in volume - we cant have a SELL without a BUY in the market.

Maybe it'll be more evident by watching the price movement with the related volume - note that ARREIT's price have not moved much between $0.905 and $0.91 for umpteenth days brows.gif

er.. on the dividends.. CHERROY HELP!! tongue.gif


Added on July 28, 2011, 10:32 am
QUOTE(rayloo @ Jul 27 2011, 05:37 PM)
Wrong, value investors step in for what ? Value ? Deteriorating value ?

Is time to run Office Related REITs while you still have reasonable or good yield. Don wait until the announcement about tenants vacancy or rental reduction.
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Yes, i'm totally wrong. Please do go ahead and spread more fears. Thank you from the bottom of my wallet when the sell-off hits a price which is of value to me biggrin.gif

This post has been edited by wongmunkeong: Jul 28 2011, 10:34 AM
wongmunkeong
post Jul 28 2011, 10:46 AM

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QUOTE(gark @ Jul 27 2011, 04:19 PM)
REIT are relatively stable... so with large capital & low trading fees, you might eek out 0.3%-0.5% gain in each trade (after fees). Lets say you trade once a day, for 26 days the miniscule returns will be compounded, I am sure you can count the returns? not bad right? laugh.gif

If a trade do fail, mah keep for dividends lor...  sweat.gif and sell after the price goes up again. Worse come to worse REIT can at the most fall 1 cent/day only mah...

Heh I am still learning this methodology and still don't have the guts to try it out yet.  sweat.gif
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Bro Gark - any URLs or books for me to steal some kungfu on this REITs trading ar? I want to see the logic and work it out on Excel tongue.gif
wongmunkeong
post Jul 28 2011, 11:39 AM

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QUOTE(gark @ Jul 28 2011, 11:26 AM)
No need book lar, you can work out the logic mah. Lets say a prominent REIT, sell queue 1.20, buy queue 1.19

Lets say Buy 1.19 x 50,000 units = 59,500
Trading fees = (0.08% +0.03%) x 59,500 =65.45
Stamp Duty = RM 60
Total buy cost = 59500+65.45+60 =59625.45

And immediately put in sell queue...

Sell 1.20 x 50,000 units = 60,000
Trading fees = (0.08%+0.03%) x 60,000 = 66
Stamp duty = 60
Total Sell cost = 60,000 - 66 - 60 =59,874

Total profit = 59874-59625 =RM 249

Total returns = 0.418%, then rinse and repeat ... the higher your capital the more you earn, but spread the risk over several REIT's tongue.gif....But there is risk if the reit do fall, you will lose your trading fee... reits usually tend to go up near distribution..

Also for that kind of trading fees, you cannot use contra, must be usually cash upfront account...

If lose money don't come find me yah.  tongue.gif
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Thanks Gark. It's similar to my assumptions - thus, i very erm.. not confident looking at the $ exposed Vs % returns. Chicken lar + i'm not the type that "converts" a TRADE into a long term INVESTMENT tongue.gif.
Thinking that there must be a better way if people are doing it.. only Q is whether worth the risk/rewards boh.

Dont worry dude - i always blame my own dumbass when things kablooey. If we blame others, how can we solve the problem? biggrin.gif
wongmunkeong
post Jul 28 2011, 07:53 PM

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QUOTE(goliath84 @ Jul 28 2011, 07:31 PM)
TWRREIT - Interim Income Distribution 5.15 Sen   rclxms.gif
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er... what the heck is "taxable in the hands of unitholders"?! blink.gif
They aint paying out 90% of their profits thus taxable in the hands of unitholders? if so, dagnabit - my tax's higher than 10% (norm REITs taxed %)


5111 TWRREIT TOWER REITS
Interim Income Distribution 5.15 Sen

Entitlement Details:
Interim Income Distribution of 5.15 sen per unit, taxable in the hands of
unitholders.



Entitlement Type: Income Distribution
Entitlement Date and Time: 12/08/2011 04:00 PM
Year Ending/Period Ending/Ended Date: 31/12/2011
EX Date: 10/08/2011
To SCANS Date:
Payment Date: 25/08/2011
Interest Payment Period:
Rights Issue Price: 0.000
Trading of Rights Start On:
Trading of Rights End On:
Stock Par Value:

Share transfer book & register of members will be closed from to (both dates inclusive) for the purpose of determining the entitlements

A Depositor shall qualify for the entitlement in respect of:
- Securities transferred into the Depositor's Securities Account before 12/08/2011 04:00 PM in respect of ordinary transfers.
- Securities transferred into the Depositor's Securities Account before in respect of express transfers.
- Securities deposited into the Depositor's Securities Account before in respect of securities exempted from mandatory deposit.
- Securities not withdrawn from the Depositor's Securities Account as at .
- Securities bought on BMSB on a cum entitlement basis according to the Rules of the BMSB.

Registrar's Name and Contact:
Hong Leong Share Registration Services Sdn Bhd
Level 5, Wisma Hong Leong
18 Jalan Perak
50450 Kuala Lumpur
Tel: 03-21641818


Remarks:
This announcement is dated 28 July 2011.


Submitted By:
Ms Tanny Lim Yew Yoke


28/07/2011 06:03 PM

This post has been edited by wongmunkeong: Jul 28 2011, 08:03 PM


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