Philippine REITS & Div. Yields

[drbubb]

Philippine REIT Stocks, 2023 updates

Phl REITs RCR vs.TLT: Mar'21: Jul'22: Filrt: Ytd: 10d / 2.16.23: 5.90 / 103.05 = 5.73%  --> S-Ltr: 10d: BL:

REIT Dashboard, 2.17 
4stk Areit: Mreit:  RCR : Filrt :
=== 35.50: 14.20: P5.52: 5.65
Div.  P1.93 : .977 : . 389: .404
Yld: 5.44%:6.88%:7.05%:7.15%
Aver.= 6.63%,  Phl10yr: 6.49%

TLT,  :  TYX =  US,LT : Prem.
102.38,38.88=-3.88%: 2.75%.
Compare:
YE’22: 6.52% -3.92%: 2.60%
RCR down 5%, Rising LT rates.
Phl.10 +0.11%US rates +0.14%,

REIT Dashboard, 2.10 
4stk Areit: Mreit:  RCR : Filrt :
==  35.45: 14.30: P6.00: 5.64
Div. P1.93:  .977 :  .389: .404
Ave=6.48% vs.Phl10yr: 6.38%
TLT,  :  TYX =  US,LT : Prem.
103.39,37.44=-3.74%: 2.74%.
Compare:
YE’22: 6.52% -3.92%: 2.60%
Rising LT rates. Phl.10yr+0.27%
US rates +0.11%, PhlDivs.+.14%

PHL Govt Bond Yields : 10yr.etc: yrEnd'22: 6.98%

WkEnd Areit: Mreit:  RCR  : FILRT= AveDvPh.10yr  TLT = US,Lt.: prem.
10.07:  34.85: 13.18: P5.07 : P5.98= 6.81%v7.24% 100.99 3.84%: 2.97%  BUY #1
11.25:   33.15: 11.36: P5.24 : P5.71 = 7.20%v6.97% 102.90 3.75%: 3.45% BUY #2
YE'22 35.40: 14.48: P5.85 : P5.50= 6.52%v6.98% 100.7: 3.92%: 2.60%
01.06:  35.20: 13.70: P5.75 : P5.50= 6.65%v 7.21% 105.2= 3.69%: 2.96%
01.13:  36.00: 15.32: P5.79 : P5.47= 6.43%v6.43% 106.8= 3.62%: 2.81%
01.20:  36.10: 14.48: P6.05 : P5.70= 6.38%v6.25% 106.2= 3.66%: 2.72%
01.27:  35.85: 14.76: P6.06 : P5.80= 6.32%v 6.12% 106.7= 3.63%: 2.69%
02.03: 35.85: 14.60: P6.06 : P5.80= 6.34%v 6.11% 106.7= 3.63%: 2.71%
02.10 : 35.45: 14.30: P6.00 : P5.64= 6.48%v6.38% 103.4: 3.74%: 2.74%
====

Rising Rates= Falling TLT Trend reversed in Oct, helping PHL REITs to stage a nice Rally

4xREITS vs.TLT: Dec'21: YTD: 10d / 2.09.23: 5.94 /105.56= Featured RCR is 5.63% of TLT. 

BUY Points - when R/T Ratio approached 5.00%
Date— : RCR :  TLT : R/Tratio: DivYld : TYX :  Prem. :
10.07.22: 5.07: 100.99: 5.02%:  6.81%: 3.84%: 2.97% > BUY#1
11.25.22: 5.24: 102.90: 5.09%: 7.20%: 3.75%: 3.45% > BUY#2
YrEnd22: 5.85: 100.68: 5.81%:  6.52%: 3.92%: 2.60%
========

Yield History, updated every Friday

DATABANK - Four REITS, highest Ave.Yield: 7.57%

Stk.: Areit : Mreit :  RCR :  Filrt  :  = Aver.  :  TLT  :  TYX :
Old : P1.93 : .980 :  .386 : .428  :
New P1.93 : .974 : . 383 : .404  : = =====> as: end Nov
Oct.: 31.00: 12.56: P5.05:  5.70 : = ==== :   96.80,  41.29.
>dv.: 6.23%:7.80%:7.66%: 7.46% =  7.29%  -4.13%= 3.16%
Nov.: 36.20: 11.84: P5.95:  5.67 : = ==== :   102.7,  38.03.
>dv.: 5.33%:8.23%:6.44%: 7.12% =  6.78% -3.80%= 2.98%
Yr.L : 30.55: 11.20: P4.80:  5.50 : = ==== :   91.85,  44.25. > Yr.L thru Nov.
>dv.: 6.32%:8.70%:8.04%: 7.73% =  7.70% -4.42%= 3.28%
DASHBOARD: Div. Yields
==: Phl.10yr AveDiv -TYX : Prem.
YE’21: 4.80E: 4.95% -1.91%: 3.04%
  6.30: 7.00E: 6.12%  -3.12%: 3.00%
  9.30: 7.09% 6.70% -3.77%: 2.93%
10.30: 7.50%  7.29% -4.13%: 3.16%
11.30:  7.03% 6.78% -3.80%: 2.99%
YE'22: 6.97% 6.87% -3.83%: 3.04%
Ja23 : 6.12%  6.32% -3.63%: 2.69%

#1: TLT/ Bond etf versus "cheap" Reits and Developer stocks ...  from 2016: 2020: 3/'21: Ytd:

12.03.21: TLT: 154.35, TYX: 1.678%, 10.24.22: 92.40, 4.363%, TLT -40.1%, TYX +160.%

#2 : TYX (10x LT Bond yields) vs. UUP (2x USD): from 2022: 9/'22: 2.01.23: 35.47, 3.547% vs. 27.25= r130.1%

===> LINK to Here: > https://tinyurl.com/PhlREITS-2

[drbubb]

Compare: GLOBAL Market bellwethers?  Phm leads, then XHB, then TLT?

PHM is a more sensitive indicator of sentiment than TLT/ Bonds

PULTE the LEADER?: Compare. TLT, and US HomeBuilder index (XHB)

TLT v. XHB (Home Builder Idx, Pulte): Mar'21: '22: 10d: 5d: (02.09.23) 104.56, 68.92 (65.9%); 55.57 (53.1%)

prev.Date:  TLT :    XHB  (% Tlt ) :  PHM.  (% Tlt)
(02.02.23) 108.32, 72.27 (66.7%); 60.27 (55.6%) > Peak
(12.23.22) 102.16. 60.83 (59.5%), 45.79 (44.8%)
( 9.02.22)  110.22. 59.38 (53.9%), 40.45 (36.7%)

5yr: 4yr: 2yr: 1yr: . from 1/'2018: 2020: 2022:  104.56, 68.92 (65.9%); 55.57 (53.1%)

RATIO: PHM to TLT: 55% - could drop as US Housing demand fades

[drbubb]

UNDER PRESSURE:  FILRT and MREIT have been under pressure recently. DDMPR too!

Divs in 2022 : ex-div. Dates
FILRT    : 2-24: 0.112,  5-03: 0.116,  8-25: 0.088, 11-25: 0.088 = 0.404 / P5.59= 7.23%
MREIT  : 3-15: .2399, 5-04: 0.243, 8-16: .2468, 11-22: .2444 = 0.974 /  P11.98= 8.13%
DDMPR: 5-16: .0278, 6-03: .0279, 8-25: .0273, 12-07: .0273 = 0.1103 /  P1.27= 8.68%

REIT Dashboard, 12.09 
4stk: Areit: Mreit:  RCR:  Filrt :
=== 35.20: 11.98: P5.81: 5.59
Div.  P1.93 : .974 : . 383: .404
Yld. 5.48%:8.13%:6.59%:7.23%
Aver.= 6.86%
 TLT  :   TYX =  ------ : Prem.
106.3, 35.49=-3.55%: 3.31%
11.30: Y6.78%-3.80%: 2.99%

FILRT / Filinvest Reit ...       All: Ytd: 10d: Update, 12.23.22: 0.404 on P 5.24 is 7.71% estimated Yield

Previous: (12.09.22): 0.404 on P 5.59 is 7.23% estimated Yield

MREIT / Megaworld Reit ... All: Ytd: 10d: (12.22.22): 0.974 on P12.80 is 7.61% estimated Yield

Prev. (12.09.22):  0.974 on P11.98 is 8.13% estimated Yield

DDMPR / Double Dragon Reit ...       All: Ytd: 10d: 0.1103 on P1.27 is 8.69% estimated Yield

[drbubb]

Rising Rates= Falling TLT Trend reversed in Oct, helping PHL REITs

4xREITs: from 7.1.22: +FLI:+VREIT: 8.22.22: Ytd: 10d / FILRT featured                            --> S-Ltr: 10d: BL:

Phl REITs RCR vs.TLT: Mar'21: Jul'22: Filrt: Ytd: 10d / 2.16.23: 5.90 / 103.05 = 5.73%  --> S-Ltr: 10d: BL:

[drbubb]

DASHBOARD: Phl.REITs vs. US Bond Yield, updating weekly....

Dash : Areit : Mreit :  RCR :  Filrt : TLT : Phl10yr =AveDv -TYX: Prem.
YE’21 48.60: 19.70: P7.61:  P7.40: 146.2: 4.80e: 4.95% 1.91%: 3.04%
  6.30: 34.90: 15.20: P6.20: P6.80: 114.9:  7.00e:  6.12%  3.12%: 3.00%
  9.30: 34.00: 14.00: P5.31 : P6.20: 102.5: 7.09%: 6.70% 3.77%: 2.93%
10.30: 31.00: 12.56: P5.05 : P5.70: 96.80: 7.50%:  7.29% 4.13%: 3.16%
11.30 : 36.20: 11.84: P5.95 : P5.67: 102.7 : 7.03%: 6.78% 3.80%: 2.99%
12.09: 35.20: 11.98:  P5.81 : P5.59: 106.3 : 6.76%: 6.86% 3.55%: 3.31%
12.16 : 36.00: 11.80: P5.89 : P5.26: 108.3 : 6.80%: 6.95% 3.50%: 3.45%
12.23: 34.70: 12.80: P5.79 : P5.24: 102.2 : 6.97%: 6.87% 3.83%: 3.04%
====
>yrE:-28.6%-35.0%-23.9%-29.2%-30.1%+45.2%+38.8%+101.%

==: Phl.10yr AveDiv -TYX : Prem.
YE’21: 4.80E: 4.95% -1.91%: 3.04%
  6.30: 7.00E:  6.12% -3.12%: 3.00%
  9.30: 7.09% 6.70% -3.77%: 2.93%
10.30: 7.50% 7.29%  -4.13%: 3.16%
11.30:  7.03% 6.78% -3.80%: 2.99%
12.09: 6.76%.6.86% -3.55%: 3.31%
12.16:  6.80% 6.95% -3.51%: 3.44%
12.23: 6.97% 6.87% -3.83%: 3.04%
>yrE: 45.2%+38.8%: +101.%: unch.

[drbubb]

FilInvest REIT slides to a New Low.  Today's Low was closing level of: 5.26

FILRT etc... All: 1yr: YTD: 10d / Last: P5.26 -0.14 /TLT-108.3= 4.86%-of TLT, reported Yield: 7.68% (div: 0.404)

Thanks to the Jump in the FILRT Yield, 4x Phl. Reit ave.Div. Yield may go to a 3.45% Prem. to TYX.

Having said that, I do not yet know where TYX will close in NY trading today.

REIT Dashboard, 12.16 
4stk: Areit: Mreit:  RCR : Filrt :
=== 36.00: 11.80: P5.89: 5.26
Div.  P1.93 : .974 : . 383: .404
Yld. 5.36%:8.25%:6.50%:7.68%
Aver.= 6.95%
 TLT  :   TYX =  ------ : Prem.
108.3, 34.96=-3.50%: 3.45%
11.30: Y6.78%-3.80%: 2.99%
====

[drbubb]

BOUNCE in Bond Yields, slowed gains in REITS

TYX / xx ... 3mo: Ytd: 10d: 30.00 +0.000 = 3.00% ... TMF: 3mo: $9.08/. Feb$10P: $1.40, Feb$9P: $0.80

TMF: 3mo: Ytd: 10d / $9.08 -0.51, -5.29% / Feb$10P: $1.40, Feb$9P: $0.80

RCR-etc: 5.78 / TLT (105.31): R-5.49%, Areit: 35.70, Mreit: 12.00, FILrt: 5.30 ... 3mo: Ytd: 10d: 

[drbubb]

MREIT has had a nice Rally to P12.96, and then closed at P12.80, +P0.46, +3.73%

MREIT / Megaworld REIT... All: Ytd: 10d /

===

[drbubb]

This is INTERESTING!
DASHBOARD: REIT Div Yields
==: Phl.10yr AveDiv.  -TYX: Prem.
YE’21: 4.80E: 4.95% -1.91%: 3.04%
  6.30: 7.00E:  6.12% -3.12%: 3.00%
  9.30: 7.09%  6.70% -3.77%: 2.93%
10.30: 7.50%  7.29%  -4.13%: 3.16%
11.30:  7.03% 6.78% -3.80%: 2.99%
12.09: 6.76%.6.86% -3.55%: 3.31%
12.16:  6.80% 6.95% -3.51%: 3.44%
12.23: 6.97% 6.87% -3.83%: 3.04%
>yrE: 45.2%+38.8%: +101.%: unch=

US Bond Yields DOUBLED in 2022, from 1.91% to 3.83%. 

That alone is very unusual through decades of history.  Meantime, Phil. Govt 10 year rates were up 45.2% t0 6.97%, and the Average Dividend of my portfolio of 4 REIT stocks (Areit, Mreit. Filrt, and RCR) - was up 38.8% to 6.87% during the last 12 months.

PREMIUM:  An interesting thing here is that REIT Div. Yield "rode along" at a 3.0-3.5% premium to the US Bond yield.   Watching these numbers week-to-week and Day-to-day can help investors spot good trading opportunities.  As an example, one of my largest REIT positions is MREIT, which rose 8.5% to P12.80 in the last week.  I am making a profit with that position, and have locked in a high dividend yield with my MREIT investment.  (You can see on this thread how I observed and commented on that stock.)

 

[drbubb]

BOND YIELDS DOUBLED in 2022

TYX / CBOE 30 Year Treasury Bond Yield Index ... 5yr: 2yr: 1yr: Ytd: 10d / 38.27 +1.04. (tlt: 102.16, tmf: 8.27)

Long Term Bond yields DOUBLED in 2022 - see TYX above/.  YE'2021 : 1.91%.  Christmas 2022: 3.83%

- this obviously has a big impact on important US Homebuilding sector: "Existing home sales are down 35.4 percent over the last 12 months.  That is the largest year over year decline in existing home sales since the collapse of Lehman Brothers.

+ Homebuilder sentiment has now dropped for 12 consecutive months.
+ Home construction costs have risen more than 30 percent since the beginning of 2022.
+ The number of single-family housing unit permits has fallen for nine months in a row.
The Empire State Manufacturing Index has plunged “to a reading of negative 11.2 in December”.  That figure was way, way below expectations..." 

- from: 15 Facts Which Prove That a Massive Economic Meltdown Is Already Happening Right Now. > https://ourgoldguy.com/2022/12/24/15-facts-which-prove-that-a-massive-economic-meltdown-is-already-happening-right-now/

TLT v. XHB (Home Builder Idx, Pulte): 2021: '22: (12.23.22) 102.16, 60.83 (59.5%), 45.79 (44.8%);

prev. (12.01.22) 105.76. 63.06 (59.6%), 45.15 (42.7%)

prev. ( 9.02.22) 110.22. 59.38 (53.9%), 40.45 (36.7%)

[drbubb]

4x REITS. 10.15.21: 8.22.22: Ytd/ Areit: 34.70,

RCR: 5.79 (16.7%), Mreit: 12.80 (36.9%), Filrt: 5.24 (15.1%)

From 10.15.21:

===

[drbubb]

Vista Group : VLL and VREIT

VLL vs.Vreit: All: 10d: 1.51 / 1.59 = 95.0%

VLL/ Vista Land: All: 5yrW: Ytd: 10d/ P1.51, BV: 8.61, PER:2.65, Yield: 1.93%  x 12.7B sh= P19.2Bn.MktCp

VReit/ VistaREIT: All: 1yr: vs-TLT: 10d/ P1.59, Div.0.021x4= 0.084, Yield: 5.28%  x ???B sh= P??Bn.

VistaREIT traces its roots to Vista One, Inc., which was incorporated on August 24, 2020 to engage in the business of leasing income-generating real properties. The company did not have any business operations until the execution of transactions that infused assets to its property portfolio. On April 2022, the Securities and Exchange Commission approved several amendments to the company's Articles of Incorporation, including the change of its corporate name andprimary purpose to reflect its transition towards the business of a REIT. The company debuted on the Philippine Stock Exchange on June 15, 2022.

DIV2. Php. 0.0361 Record.Date; Nov,28, 2022; Pmt. 12.19.2022
DIV1. Php. 0.0210 Record Date: Aug 30, 2022; Pmt. 09.20.2022

0.0361 = Php.271.18M: is 7,512 M sh.  : /1.59, 9,06%
0.0210 = Php.157.65M: is 7,507 M sh. :  /1.59, 5.28%

Note; Offering 2.75B shs x1.60E = 4.4B actual: 3.367B (1.00)
2.75B / 7.51B = 36.6% sold off. 63.4% retained ?

4.76B Vreit (1.59) = P 7,57B worth of Vreit shs.
If 0.144 per sh x 4.76B= P 685M p.a. received pa.by VLL?
Compare: VLL has 12.7B sh x 0.029 = pays 368M Divs. pa

Every VLL sh. is backed by 37.5% of a VREIT sh.   9% x 37.5%=  3.38% incoming er VLL sh.

[drbubb]

REIT Dashboard, 12.30 
4stk: Areit: Mreit:  RCR : Filrt :
=== 35.40: 14.48: P5.85: 5.50
Div.   P1.93 : .974 : . 383: .404
Yld.5.45%:6.73%: 6.55%:7.35%
Aver.= 6.52%, Phl10yr: 6.98%
 TLT,  :   TYX = Us-LT : Prem.
100.68,39.24=-3.92%: 2.60%
11.30>:38.22=-3.80%: 2.99%

P1.68 jump in MREIT reduced Div.Yield,
again, despite rising US Yields. Prem.V

12.23: 34.70: 12.80: P5.79 : P5.24= 6.87%v6.97% 102.2= 3.83%: 3.04%
12.30: 35.40: 14.48: P5.85 : P5.50= 6.52%v6.98% 100.7= 3.92%: 2.60%

The MREIT Move came at the end of the Day - last trading day of the year.

MREIT closed at P14.48, +P1.54, +11.9% (> 6.73% yield)... / Megaworld REIT... All: Ytd: 10d /

Ytd:

 

[drbubb]

May add these too.  As Dividend-paying stocks to monitor

Looking at these charts…
FB. : SanM.Food, bev.   4.70%
GLO: Globe Telecom.    4.90%
LTG: LT Group              15.73%
MER: Manila Electric.    5.70%
MBT: Metrobank           5.42%
TEL: PLDT                      5.28%

> more: XXX

[drbubb]

PHL 10 Year Bond Yieids JUMP in New Year

Meantime, US LT Bond yields eased in the New Year : TYX is 10x LT Bond rate

[drbubb]

VREIT vs. VLL. fr.July'22: All: 1yr: 10d / VLL:1.96 / P1.70= 115.3% (VLL R: 1.39 to 3.52)/ (1.47 to 1.77) 1.27.23

----------------------  OLD (YE'2022) : VLL:1.69 / P1.65= 102.4% (VLL R: 1.39 to 3.55)/ (Vreit R: 1.47 to 1.77)

From 1/2019:

VLL (P1.69, 102.4%), VREIT (P1.65)... vreit/ TLT ($105.18)= 1.57% :  from 12.11.2007: 1yr: 6mo: 10d

Here's a chart that made me want dig deeper.   B.V. 8.61         ... Update: Oct.'22 > Jan.'23

VLL/ Vista Land. ALL: 10yr: 5yr /1.96 >P1.69. PER: 3.52 > 2.96x... 52 Wk. range: (1.85 - 3.88

) > 1.39 to 3.55

[drbubb]

• NEWS, Rate and Debt related
• Nov. trade deficit widest in 2 months; imports fall for first time in almost 2 years January 10, 2023 | 9:55 am
• PHL to raise at least $1.5B from dollar bonds January 10, 2023 | 12:34 am
• Philippines to see decline in debt burden in 2023 January 10, 2023 | 12:32 am

[drbubb]

Market Intelligence | Dec.21, 2022 | AREIT sets growth target for gross leasable area and IWG aims for expansion

AREIT, Inc. is planning to grow its assets at an average of 100,000 square meters (sq.m.) of gross leasable area annually from 2023 to 2025, the company said on Tuesday.  In its three-year investment strategy, AREIT said that the target will increase its assets under management by P10 billion to P15 billion yearly.

Previously, AREIT set a growth target of P60-billion assets under management two years after its maiden listing at the Philippine Stock Exchange on Aug. 13, 2020, from an initial P30 billion.

To date, these assets reached P54 billion and are projected to reach P64 billion upon the infusion of Ayala Land, Inc.’s Cebu assets. The transfer of the assets in Cebu will be through a property-for-shares swap and will increase AREIT’s portfolio to 673,000 sq.m. The swap will increase Ayala Land’s stake in AREIT by 5.65 basis points to 66.23%.

Meanwhile, the company said that it would diversify into other asset classes including shopping malls as it bets on the recovery and reopening of the economy.

Also, among its three-year objectives is to achieve a 10% to 12% total shareholder return through organic growth and new acquisitions.

Read more

[drbubb]

Philippine REITS, 2023 updates

4xREITs: from 7.1.22: +FLI:  8.22.22: Ytd: 10d /                                                                   --> S-Ltr: 10d: BL:

REIT Dashboard, 1.13 
4stk Areit: Mreit:  RCR : Filrt :
=== 36.00: 15.32: P5.79: 5.47
Div.  P1.93 : .974 : . 383: .404
Yld.5.36%: 6.36%: 6.61%:7.39%
Aver.= 6.43%,  Phl10yr: 6.43%
 TLT,  :  TYX = Us,LT : Prem.
106.75,36.23=-3.62%: 2.81%
Compare:
YE’22>6.52% -3.92%: 2.60%
11.30 >6.79% -3.80%: 2.99%

Mreit up 1.62. AveDiv. -0.22%
Big 0.78% drop in Php.10yr.

PHL Govt Bond Yields : 10-20yr: ye'22: 7.00-7.30est

12.23: 34.70: 12.80: P5.79 : P5.24= 6.87%v6.97% 102.2= 3.83%: 3.04%
12.30: 35.40: 14.48: P5.85 : P5.50= 6.52%v6.98% 100.7= 3.92%: 2.60%
01.06:  35.20: 13.70: P5.75 : P5.50= 6.65%v 7.21% 105.2= 3.69%: 2.96%
01.13:  36.00: 15.32: P5.79 : P5.47= 6.43%v6.43% 106.8= 3.62%: 2.81%

[drbubb]

MREIT Highlights

> source, pg28 :

[drbubb]

FLI/ Filinvest: All: 2008: 2020: +Etc-Mar.'21: Oct.'21: Aug'22: 10d/. Last: 0.84 -0.01. (Range: 0.73 to 1.12 )

+Etc-Mar.'21:

FLI versus other Prop-co's: ROCK, ALI, CDC ... Areit-etc: update: 10d:

[drbubb]

VREIT / VistaREIT .... All:  from 6.10.22: 10d/ Last: 1.68. (Range: 1.47 to 1.77)

OLD Press Release ... No more recent Div. Announcement yet

16 August 2022

Three and a half months from Asset Injection, VREIT nets P802.7 million; declares 1st dividend

VistaREIT, Inc. (“VREIT”), the flagship mall and office REIT of integrated property developer Vista Land & Lifescapes, Inc. (VLL), recorded a net income of P802.7 million for the period ended June 30, 2022.   Since the injection of the 10 community malls and two PEZA-registered office buildings of the Company, rental revenues were at P934 million while EBITDA was at P850 million for the period.  The company’s record performance covers three and a half months of operations since the assets were transferred to the Company on March 16, 2022.

“We are pleased with the strong performance of our 12 commercial assets - the majority of which are community-based malls - as we take advantage of the so-called ‘revenge retail’,” said Manuel Paolo A. Villar, President of VREIT.   “VREIT is poised to hit its target for the year,” he added. “Footfall has been improving and our system-wide occupancy as of June 30, 2022 stood at 97%.  We remain optimistic for the remainder of the year as the economy continues to open up and businesses are now able to navigate through this pandemic.” 

VREIT’s total assets stood at P38 billion as of June 30, 2022 and has no interest-bearing debt on its books.

VREIT is anchoring its solid expansion program on the robust, geographically diverse pipeline of the profitable assets of VLL. VLL’s commercial assets are composed of 31 malls, seven office buildings, and 69 commercial centers with a combined Gross Floor Area (GFA) of 1.6 billion sqm.   VREIT assets account for over 20 percent of the total VLL’s GFA.  In addition, VLL has about 3,000 hectares of raw land and recently launched Vista Estates, which will serve as potential locations for future commercial developments. 

The Company sees as a robust foundation its synergy with Villar Group’s retail ecosystem given that the majority of its assets are community-based malls. Community based malls tend to deliver despite the challenges brought about by the COVID-19 pandemic.  The performance of these community-based malls can be attributed to the strategic location and the tenant mix focused on providing essential items and services during the pandemic. VREIT’s synergy with the Villar group’s growing world class retail ecosystem positions the Company to take advantage of the post-pandemic economic and retail recovery.

The company also declared its first dividend amounting to P157.5 million or P0.0210 per share for shareholders of record as of 30 August 2022 to be paid on 20 September 2022.  The dividend represents 100% of the distributable income for the two-month period ending June 30, 2022.  The Company was listed on June 15, 2022.

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Hmm.  "two Month period"?  P0.021 x 6= 0.126 / 1.68= 7.5%

Is Vista REIT a good investment?

GOOD, to Earn Dividends
According to Philstar, the estimated yield of VREIT in 2022 is 8.24%. That is an excellent yield compared to other REITs in the country.May 30, 2022

Source: DailyPIK

Vista Land REIT IPO Price:  P1.75 x 8.24%= 0.1442 Est.Div. (... /1.68= 8.58%)

• Price: P1.75 per share
• Minimum Subscription: 1,000 shares, thereafter, in multiples of 1,000 shares
• Offer Period: May 30 to June 3, 2022 (PSE EASy)
• PSE Listing Date: June 15, 2022

5 Reasons Why You Should Invest in Vista Land REIT (VREIT)

Earn Dividends...

One of the benefits of investing in REITs is earning dividends regularly. Real Estate Investment Trusts are required by law to declare dividends. The Philippine REIT Law requires REIT companies to distribute at least 90% of their distributable net income as adjusted for unrealized gains and losses and other items following Generally Accepted Accounting Principles (GAAP).

According to Philstar, the estimated yield of VREIT in 2022 is 8.24%. That is an excellent yield compared to other REITs in the country. Considering the bankable portfolio of VistaREIT (10 community malls and 2 office buildings), that yield is achievable.

[drbubb]

What is a REIT ?
+ Taxfree, if 90% of Income paid out
+ AREIT was first, Aug.'20 at P27. Now up 31% +>5%pa Divs.

Main REITs I follow.                     (prices as of 2.10.23)
Stock :  Price: BkVal.: ShOS: MCap: Yield: P-Div.  PER :  DxP
AREIT : 35.45: 32.40: 1.76 B. 62.7B: 5.44% 1.930   17.39  :94.7
RCR.  : P6.00: P6.03: 9.95 B. 59.7B:  6.48% 0.389  14.60 :94.6
MREIT: 14.30:   ???  : 2.53 B. 36.2B:  6.83% 0.977  10.23  :99.9
FILRT : P5.64:   ???  : 4.89 B. 28.4B:  7.16 % 0.404  22.85 :164.?
DDmpr P1.47: P2.30: 17.71 B. 26.0B:  7.48 % 0.110   4.378 :32.8
VREIT : P1.71: P0.96:  7.50 B. 12.7 B:  8.18%  0.14E   N / A :
=====                      Top 4 Ave.Div.:  6.48%
Divs.Paid.  4 Qtr's. :  3 Qtr. Ago.   :   2 Qtr. Ago. :    Last Qtr.    : 12mos.
Areit : 03’22, 0.470: 05’22, 0.480: 08’22: 0.490: 10’22: 0.490 = 1.930
MReit: 05’22, .2430: 08’22, .2468: 11’22: .2444:  01’23: .2428 = 0.977
RCR  : 05’22, .0965: 08’22, .0972:  11’22: .0974:  02’23: .0974 = 0.389
FILRT: 02’22, .1120 : 05’22, .1160 : 08’22, .0880:  11’22: .0880 = 0.404
DDmpr: 5’22, .0278: 06’22, .0279: 08’22: .0273:  12’22: .0273 = 0.110
Vreit  : 08’22, .0210:  >>  Expected Yield is 8.00% on 1.75 or   = 0.140

> More Data: https://www.reitphilippines.com/

 

[drbubb]

TYX / US 30 Year Bond rates. ... 3yr: 1yr / Last: 39.42 = 3.942%, Range: 20.70 to 44.25

TNX / US Ten Year Note rates . 10yr; 3yrL: 1yr: 10d: Last: 38.43 > 3.843%  Range: 16.82 to 43.33

10yr;

Q: HAVE RATES PEAKED?

VIBER CHAT - in answer to a Question about whether ST rates have peaked, I wrote:

"Short term rates in the US and Phl, are still under upwards pressure.  I think that upwards pressure may ease within the next month or so.  ( My view may be wrong, of course, but I am now betting/ investing on the notion that LT rates in the US have already peaked...  back in Oct.2022, when. 30 yr rates hit. 4.36%,  and the 10yr Note hit. 4.425%".  ...   

 Look at the chart above (TYX- is 10x the 30 yr Bond rate, and TNX - is 10x the 10 year Note rate.).

 

[drbubb]

RATE PEAKS came at different times.

The longer term the Treasury instrument, the earlier it peaked, starting in Oct.2022

RATE outlook: "I think that upwards pressure may ease within the next month "

The 2 year Note may have peaked yesterday/Fri. at 4.71% (versus the Nov. peak of 4.80% intraday)

3mo.:

1 yr. :

2 yr. : x

10 yr.:x

30 yr.:

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