Cache Logistics Trust: 2Q 2012's DPU down 5%.

A drop in DPU? Yes, that is right. From 2.086c in the last distribution to 1.981c this time round.




This is due mainly to a private placement of 60 million units in March this year. This is an important reason why I prefer a rights issue to a private placement.

With a rights issue, all unitholders are given a chance to participate in the enlarged capital base of the REIT. With a private

Cache Logistics Trust: 1Q 2012 DPU 2.086c.

It is no secret that I like industrial S-REITs as passive income generators. I am also vested in Cache Logistics Trust although my long position here is quite a bit smaller compared to my investments in Sabana REIT and AIMS AMP Capital Industrial REIT.

DPU for the quarter came in at 2.086 S cents and represented a 6.9% YoY increase. 

Income distribution is payable 30th of May 2012.

CACHE’s

Cache Logistics Trust: Retreating to supports.

Cache Logistics Trust is a favourite of many REIT investors. It has also received many glowing reports from analysts. I also have a small long position in the REIT.

Today, a reader left a comment in my blog asking me if it is a good time to invest in the REIT as it closed at $1 a unit in the last session. Fundamentally, the REIT is a well run entity with 8.4% distribution yield per annum. If

OCBC Research: Industrial REITs.

I came across an interesting piece of research by OCBC on industrial REITs in Singapore and would like to share the salient points here (some of which I have mentioned before in my blog):

Industrial REITs reported healthy 4Q11 results.

Industrial REITs appeared to outperform market expectations.

Expecting stable performance.

Operating metrics still healthy.

Earnings likely to stay

Cache Logistics Trust: 4Q and FY2011 results.

Cache Logistics Trust announced a good set of results.



Its recent acquisitions pushed distributable income upwards by some 9.2% while DPU increased to 2.1c. Annualised, distribution yield is 8.48% with unit price at 99c.

Net gearing: 29.6%.
NAV per unit: 91c.
Interest cover ratio: 8.0x

The CEO, Daniel Cerf, said that although new supply in warehouse space could come on board in late 2012

Cache Logistics Trust: 3Q 2011.

A DPU of 2.095c has been declared and this is an 8% increase year on year. Annualised at 8.38c, it would translate to a distribution yield of 8.38% at the last traded price of $1 per unit. Not bad. That would explain the strength of the unit price in the days running up to the announcement.


Occupancy: 100%.
Gearing: 30.4%.
Interest cover ratio: 8.3x.
Total assets: >$830m.
Financing cost reduced

Cache Logistics Trust: Further divestment at $1.

On 29 August, I mentioned that the mini double bottom, if valid, could see price go higher with a target of $1. On that same day, I partially divested my investment in the REIT as gap was filled at 96c.

On 8 September, I divested further at 98c which I thought was a rather stubborn resistance. The stochastics also showed the REIT to be very much overbought.

However, as is my usual style,

Cache Logistics Trust: Partial divestment at 98c.

On 29 August, I blogged about partially divesting my investment in Cache Logistics Trust as the gap was filled at 96c. Today, my overnight sell order at 98c was filled.

After the gap at 97.5c was filled on 1 September, the REIT's unit price seems to be having difficulty clearing 98c, which is a natural candlestick resistance as well.


As the REIT's unit price does not seem to exhibit any form

Cache Logistics Trust: Gap closed at 96c.

The unit price of Cache Logistics Trust closed the gap at 96c in the last session.  A white candle with an extremely long upper wick was formed, suggesting strong selling pressure at 96c. 96c is also where we find the flatlined 50dMA which should also act as resistance.



I decided last Friday to put in a sell order over the weekend at 96c for a partial divestment in case gap resistance should

Cache Logistics Trust: 2Q 2011.

The decision to use funds from the partial divestment of Saizen REIT to invest in Cache Logistics Trust at the right prices a few months ago continues to be rewarding.

The management has declared a DPU of 2.086c for 2Q 2011 which is much higher than the DPU of 1.71c the same quarter last year in 2010. At the high of 99c/unit hit this morning, the REIT had an annualised distribution yield of

Mr. Market is always right.

I blogged about my partial divestment of Saizen REIT as price gap closed at 15c. I still retain more than 10% of my original investment in the REIT. See blog post here.

As Saizen REIT was the largest investment in my portfolio, making up some 40% of total funds invested (excluding funds in my frozen portfolio), the amount of money released was no small change. Leaving the money in the bank was

Mapletree Industrial Trust: A simple analysis.

I looked at the results of Mapletree Industrial Trust (MIT) briefly when it was announced a few days ago. It didn't interest me much and so, I did not blog about it. Someone asked me a couple of days ago what I thought of it and if I would invest in the trust now.

I like industrial properties S-REITs because they probably offer a more stable source of passive income compared to office S-REITs

Cache Logistics Trust: Reverse head and shoulders.

I am rather excited by the price action of Cache Logistics Trust today. Price formed a wickless white candle as it closed at 96c, the neckline of the potential reverse head and shoulders pattern I mentioned in earlier blog posts. It remains to be seen if this resistance could be overcome. 96c is also where we find the 200dEMA.


If resistance at 96c were taken out, using Fibo lines, I see more

Cache Logistics Trust: 1Q FY2011 results.

Higher DPU than forecast: 1.952c.
XD: 3 May.
Payable: 30 May.

NAV/unit: 88c.
Gearing: 26.4%.
Interest cover ratio: 9.5x

See presentation slides here.

The numbers are nice and strong. Although its distribution yield is lower than AIMS AMP Capital Industrial REIT, I believe that it is a premium that is well worth the money.


Looking at the chart, a potential reverse head and shoulders is quite