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 REIT, real estate investment...

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chanleonzen
post May 9 2009, 07:25 AM

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QUOTE(panasonic88 @ May 9 2009, 01:21 AM)
emm, i try to compare side by side Amfirst & Axreit Q1 report.

- Number of properties owned by Axreit ~ 19; while Amfirst only has 6
- Amfirst's gearings / borrowing is higher than Axreit's
- Amfirst DPU is based on semi-quarter, while Axreit is on every quarters
- Total income of Amfirst is higher than Axreit, hmmm?
- what does NAV means?

Amfirst's tenants are:-
Bangunan AmBank, AGLC, Menara Ambank, Menara Merais, Kelana Brem, Summit USJ
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NAV =Net asset Value
Its the value of the Assets(properties in this case) per share =)

Higher NAV is better.. of course we need to see the gearing of the company too...
high gearing...<< bad..

This post has been edited by chanleonzen: May 9 2009, 07:26 AM
chanleonzen
post May 9 2009, 10:43 AM

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Well, I say high gearing ratio is bad as the company doesn't have the potential to grow and the price of the share would have reflected its potential future earnings.
IMO, i would prefer a lower gearing, cause there is potential to acquire new properties without the company issuing new share, which dilutes the EPS and NAV.
Debt, Depends if it is a good bad of bad debt of course. usually REITs dont have (have low) debt? correct me if i'm wrong..
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