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 M Reits Version 7, Malaysia Real Estate Investment

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cherroy
post Nov 22 2017, 04:04 PM

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QUOTE(demetry @ Nov 22 2017, 03:47 PM)
noted. so in this case, igbreit will need to issue more shares either private placement or right issues to get more capital to invest on other property to increase its share value?
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Yes, due to the fact reit always distributed 90% or more on their profit/cashflow made, little money is left inside, so whenever they want to inject/buy new property, they need to raise money through private placement/right issue, or bank borrowing.

Reit bank borrowing is subjected to SC limitation of 50% of Reit asset value.
yok70
post Nov 25 2017, 06:08 PM

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MReit sell down is still strong. Guess institution investors are selling....
knight
post Nov 27 2017, 08:31 PM

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What happen? Recently the reit macam looks weak and slowly goes side ways. YTLreit and MReit also like going side ways. Should I keep ?
cherroy
post Nov 28 2017, 10:00 AM

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QUOTE(knight @ Nov 27 2017, 08:31 PM)
What happen? Recently the reit macam looks weak and slowly goes side ways. YTLreit and MReit also like going side ways. Should I keep ?
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Since BNM word becomes more hawkish, Mreit generally were weak across.


Hansel
post Nov 28 2017, 12:11 PM

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I suspect it's because of some suggestions in the press recently that BNM may be raising rates in early-2018,... I noticed some effects in the mkt.

MY REITs get weaker, and the RM seems to be getting stronger,....
GetHappy
post Nov 29 2017, 05:23 PM

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which is also good if you look at it differently, cheaper buy-ins and more divvy.
knight
post Dec 2 2017, 12:34 AM

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I've started selling most of my REIT. Start rugi oledi.

demetry
post Dec 3 2017, 06:50 PM

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QUOTE(knight @ Dec 2 2017, 12:34 AM)
I've started selling most of my REIT. Start rugi oledi.
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rugi?? at most u get diviidend the same as fd rate
yok70
post Dec 3 2017, 08:49 PM

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QUOTE(demetry @ Dec 3 2017, 06:50 PM)
rugi?? at most u get diviidend the same as fd rate
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cannot avoid reit stock price i guess.
the only support for reit stock price is dividend yield. If the reit cannot increase its yield over years ahead, and our interest rate continues to climb up, then rugi is not impossible to happen. Although it seems impossible for malaysia's rate to climb back to that crazy 10% some decades ago, but a 4% is not impossible for future 4-6 years if economy works out fine. That case, our reit's yield must increase at least 30% to neutralize that rate hike, or else the reit stock price may drop 30% from here.

This post has been edited by yok70: Dec 3 2017, 08:53 PM
cherroy
post Dec 4 2017, 09:36 AM

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QUOTE(yok70 @ Dec 3 2017, 08:49 PM)
cannot avoid reit stock price i guess.
the only support for reit stock price is dividend yield. If the reit cannot increase its yield over years ahead, and our interest rate continues to climb up, then rugi is not impossible to happen. Although it seems impossible for malaysia's rate to climb back to that crazy 10% some decades ago, but a 4% is not impossible for future 4-6 years if economy works out fine. That case, our reit's yield must increase at least 30% to neutralize that rate hike, or else the reit stock price may drop 30% from here.
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It is about sustainable reit DPU.

Most of reit price dropped are mainly due to drop in their DPU.

10% is too far fetch, unless interest rate is raised until 6-8%, which is highly unlikely.

Last time reit yield was around 6-8% before we have a good bull run for reit across, that sending yield drop to below 5%.

Now just about normalise back.

Reit yield generally should be staying around 200~300 basic point above interest rate level.
mopster
post Dec 8 2017, 04:20 PM

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top up a litle of MQReit today! haha ... nvr tot 1.24 could match lol.... dunno happy or sweat.gif
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oh seems like there's some discussion on IGBREIT... just curious... the current payout i always more than the EPS... i havent check the FR in detail.. but is it sustainable ? assume this year EPS about 8.4c, payout 90% about 7.6c, yield is about 4.87% ... soso only right ? hmm.gif
but seems like they are able to pay more than EPS every year... hmm.gif

This post has been edited by mopster: Dec 8 2017, 04:26 PM
cherroy
post Dec 8 2017, 05:19 PM

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QUOTE(mopster @ Dec 8 2017, 04:20 PM)
top up a litle of MQReit today! haha ... nvr tot 1.24 could match lol.... dunno happy or sweat.gif
------------------
oh seems like there's some discussion on IGBREIT... just curious... the current payout i always more than the EPS... i havent check the FR in detail.. but is it sustainable ? assume this year EPS about 8.4c, payout 90% about 7.6c, yield is about 4.87% ... soso only right ?  hmm.gif
but seems like they are able to pay more than EPS every year...  hmm.gif
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The manager fee is paid in unit, hence it can give higher than EPS.
The 3Q distributed income is around 2.6 cents if not mistaken.
Around 5% net yield currently seems fair enough.
Can't ask for more, as among all the Mreit, this one is 99% chance of stable DPU with potential increment, aka little risk with non-renewal lease and little risk of reduced DPU.

Top up MQreit as well at 1.19.
Seem like there is "fire sale" in the afternoon session.

This post has been edited by cherroy: Dec 8 2017, 06:54 PM
yok70
post Dec 8 2017, 09:07 PM

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wow! really, mreit selling force is still strong! hmm.gif
yok70
post Dec 8 2017, 11:36 PM

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QUOTE(cherroy @ Dec 8 2017, 05:19 PM)
The manager fee is paid in unit, hence it can give higher than EPS.
The 3Q distributed income is around 2.6 cents if not mistaken.
Around 5% net yield currently seems fair enough.
Can't ask for more, as among all the Mreit, this one is 99% chance of stable DPU with potential increment, aka little risk with non-renewal lease and little risk of reduced DPU.

Top up MQreit as well at 1.19.
Seem like there is "fire sale" in the afternoon session.
*
you mean IGBreit regularly practice buyback for using them later to pay manager's fees? Or it just increase the unit size (that case, dilution will happen)?

lucky you to be able to catch it at the lowest 1.19. biggrin.gif

This post has been edited by yok70: Dec 8 2017, 11:37 PM
gruntz99
post Dec 9 2017, 06:21 AM

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Well time to buy and adding some reits stocks, for long term holding
knight
post Dec 10 2017, 12:20 PM

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QUOTE(gruntz99 @ Dec 9 2017, 06:21 AM)
Well time to buy and adding some reits stocks, for long term holding
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Reits like going down lately. Now YTL Reits also seems like dropping soon. Monday if it don't looks good I will sell.
Only will buy back after lowest rate. If I remember I bought at 1.12 last time.
cherroy
post Dec 10 2017, 09:31 PM

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QUOTE(yok70 @ Dec 8 2017, 11:36 PM)
you mean IGBreit regularly practice buyback for using them later to pay manager's fees? Or it just increase the unit size (that case, dilution will happen)?

lucky you to be able to catch it at the lowest 1.19.  biggrin.gif
*
Instead paying the manager fee in cash, it is paid through new unit created.
Therefore, extra cash in available.

Yes, there is a dilution effect but the impact is minimal/nearly negligible as compared vast size of total shares.


CP88
post Dec 14 2017, 12:53 AM

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QUOTE(cherroy @ Dec 8 2017, 05:19 PM)
The manager fee is paid in unit, hence it can give higher than EPS.
The 3Q distributed income is around 2.6 cents if not mistaken.
Around 5% net yield currently seems fair enough.
Can't ask for more, as among all the Mreit, this one is 99% chance of stable DPU with potential increment, aka little risk with non-renewal lease and little risk of reduced DPU.

Top up MQreit as well at 1.19.
Seem like there is "fire sale" in the afternoon session.
*
Well, seems like the selling force is strong. (Perhaps prior the listing of STarWars). laugh.gif

IGB getting lower by the day. sweat.gif

OT:
Bro cherroy,

BDI is standing at 17xx, compared to a year ago (10xx) but seems like its not reflected on Maybulk. Whats your view on POSH?

This post has been edited by CP88: Dec 14 2017, 12:59 AM
cherroy
post Dec 14 2017, 10:14 AM

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QUOTE(CP88 @ Dec 14 2017, 12:53 AM)
Well, seems like the selling force is strong. (Perhaps prior the listing of STarWars).  laugh.gif

IGB getting lower by the day.  sweat.gif

OT:
Bro cherroy,

BDI is standing at 17xx, compared to a year ago (10xx) but seems like its not reflected on Maybulk. Whats your view on POSH?
*
Mreit is under some selling pressure across, as some fund managers may want/need to offload their position due to potential interest hike by BNM.
Somemore, recent retail sales figure are under many analyst expectation.

Interest rate hike, poor retail sales, so by book, fund managers may need to do something on their position.

OT, BDI was more than 5000 at the time of glory day, 17xx is more like dead cat bounce level... biggrin.gif
I am not following those counters, so can't give any comment, but if really shipping industry recover, I prefer MISC.
Generally, as long as a company is still reporting continous operation loss, personally I won't touch it.



foofoosasa
post Dec 14 2017, 11:11 AM

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The price for IGBreit still generate lower than 6% yield based on historical DPU. yawn.gif

Price still not attractive enough : sad.gif

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