Vista Land and VREIT / Vista REIT

[drbubb]

Vista Land and VREIT / Vista REIT ("VVV")

Buy: VLL when Ratio is 95% or Lower?

VLL (1.50, pe:2.04, 4.13%) / VReit (1.75) =85.71%. / TLT 87.78, 1.71% @ 4/26/24 .. Mid-'23: <swap to VLL 
4/11/24 (1.55, 0.02 pe:2.64 4.00%) / VReit (1.72)=90.12%. / TLT 90.22, 1.72%
1/11/24 (1.80, 0.02 pe:3.07, 3.44%) / VReit (1.72)=104.7%. / TLT 96.17, 1.87%

VLL (1.80 +0.02 pe:3.07

VReit (1.71 unch.) : VLL (1.76 +0.06 pe:3.00, 3.52%) /= +0.05, 102.9%. / TLT 96.29 : 1.83%, 1.78%

Date ==:  VLL / VReit: Disc.    Pct  :    /TLT,   %TLT
01.05.23:  1.75 / 1.75 : +0.00:  100.%, 93.35,  1.87%

01.05.23:  1.76 / 1.71 : +0.05:  103.%, 96.29,  1.83%
12.11. 23:  1.61 / 1.70 : (0.09): 94.7%, 94.54,  1.70%
11.17. 23:   1.61 / 1.68 : (0.07): 95.8%, 89.62* 1.80%
10.31.23:  1.60 / 1.66: (0.06): 96.4%, 83.58,  1.91%
09.29.23: 1.64 / 1.69: (0.05): 97.0%,  88.69,  1.85%
08.29.23: 1.59 / 1.65: (0.06): 96.4%,  96.31,  1.65%
08.02.23: 1.57 / 1.67 : (0.10): 94.0%,  97.09,  1.62%
======

VLL-MEG-etc.  from Jul'22: Jun'23:  FLIP:

VLL-vs-VReit: 1.55 vs 1.72= 90.12%, FLI (0.66 -0.02) / FILrt (2.95) /TLT (90.22)= 3.27% @4.11.24

1.05.24: 1.76 +0.06 vs 1.71= 102.9%, FLI (0.65 +0.03) / FILrt (2.84) /TLT (96.29)= 2.95%

[drbubb]

Vista Land and VREIT / Vista REIT ("VVV")

VLL-vs-VReit: 1.55 vs 1.72= 90.12%, FLI (0.66 -0.02) / FILrt (2.95) /TLT (90.22)= 3.27% @4.11.24

1.05.24: 1.76 +0.06 vs 1.71= 102.9%, FLI (0.65 +0.03) / FILrt (2.84) /TLT (96.29)= 2.95%

VVV3:  VLL:  1.61, -0.01 /VREIT: 1.68, -0.01= 95.8%, 89.62 11.17.23 update

Date ==:  VLL / VReit: Disc.    Pct  :    /TLT,   %TLT
12.11. 23:  1.61 / 1.70 : (0.09): 94.7%, 94.54,  1.70%
12.11. 23:  1.61 / 1.70 : (0.09): 94.7%, 94.54,  1.70%
11.17. 23:   1.61 / 1.68 : (0.07): 95.8%, 89.62* 1.80%
10.31.23:  1.60 / 1.66: (0.06): 96.4%, 83.58, 1.91%
09.29.23: 1.64 / 1.69: (0.05): 97.0%,  88.69, 1.85%
08.29.23: 1.59 / 1.65: (0.06): 96.4%, 96.31,  1.65%
08.02.23: 1.57 / 1.67 : (0.10): 94.0%, 97.09,  1.62%
========

VLL vs.VREIT: start, 9.30.22:

Switch from ALI (29.50, -0.30) > VLL (1.64, 5.56%)... Or, if really brave > FLI (0.56, 1.90%)

VLL-etc: Ytd: 1.64, ALI: 29.50, MEG: 2.04, 6.91%, FLI: 0.56 update: 11.17

10.31: 1.60, 4.97% /ALI: 32.20, MEG: 1.98, 6.15%,  FLI: 0.61, 1.89%

====

VLL. From 2020: 2022: Ytd: 10d/ 1.78, Range: 1.39 to 3.20

VV, Same Price - From the start point, 9.30.22

Date == :   TLT   :    TYX  :  VLL: VREIT: divE: Yield:  V/V R.: VL/t : VR/t:
09.01.22: 109.60:  3.374%: 1.192 2.05: 1.72:
09.15.22:  107.97:  3.480%: 1.180 1.97: 1.67:
09.30.22 102.45: 3.765%: 1.00  1.60: 1.60:
10.28.22: $96.80: 4.129%:  1.131  1.73: 1.53:
12.29.22:  100.68: 3.924%: 1.000 1.65: 1.65:
02.15.23:  103.05: 3.854%: 1.189 2.01: 1.69:

======

[drbubb]

VVV :  Vreit goes ex-Div. May 3rd: 0.0386 x4= 0.1544 / 1.56 = 9.90% potential Yield?

FINALLY DECLARED !  Tomo is ex-Div

C02885: VistaREIT declaration of cash dividends
Ex-Date: May 03, 2023 Type of Securities: Common Cash Dividend Date of Approval by Board of Directors: Apr 19, 2023 Other Relevant Regulatory Agency, if applicable: N/A Date of Approval by Relevant Regulatory Agency: N/A Type (Regular or Special): Regular Amount of Cash Dividend Per Share: Php. 0.0386 Record Date: May 8, 2023 Payment Date: May 29, 2023 Source of Dividend Payment Cut-off Date: Dec 31, 2022 Distributable Income: Dec 31, 2022

VISTA LAND EARNINGS

VLL - Vista Land and Lifescapes, Inc.   BUY  |  SELL

 

 

C02797: Vista Land press release - 1

"Vista Land nets P7.7B for 2022; project launches at P40 billion"

Vista Land & Lifescapes, Inc., one of the country's leading integrated property developers and the largest homebuilder posted a core net income of P7.7 billion for 2022, up 10% from 2021. The Company launched a total of P40.0 billion worth of projects across the country which was four times higher than the projects launched in 2021. Vista Land Chairman Manuel B. Villar Jr. said, "We remain bullish with the industry for this year especially with the level of our project lunches last year. We have a pipeline of projects going into 2023 and we are slated to launch more projects this year as buyer's confidence is back. We have seen sustained growth in Overseas Filipinos (OF) remittance which is projected to grow by 4% this year.

 

Demand from OF remained strong which resulted in the 12% growth in our reservation sales of P65.5 billion in 2022. We have also announced our shift to the upscale, vertical and commercial projects in our existing developments through our Vista Estates in various areas around the country. To date, we have launched 11 Vista Estate projects in 2022 but this is just the beginning, we will be announcing more Vista Estate projects in the coming months." Our aim is to maximize our existing land to its best use, he added. Vista Estates is Vista Land's version of integrated development of horizontal and vertical residences, commercial spaces, office components and lifestyle options that is aimed for sustainability, innovation, lifestyle-driven, world-class, and primed for growth. The Company reported a consolidated revenue of P29.8 billion for the year. Rental income amounted to P13.7 billion while real estate revenues was at P12.8 billion. Gross profit was at P7.2 billion while EBITDA posted a 6% increase to P16.7 billion. Vista Land sustained improvements in its gross margin by 571 basis points to 57% due to price increases implemented and cost efficiencies realized. EBITDA margin also improved by 491 basis points to 58% as a result of the foregoing.

 2 /

Manuel Paolo A. Villar, President & CEO of Vista Land said, "Our leasing business delivered in 2022 with a growth momentum given the return to "normalcy" and the so-called revenge spending. The footfall of our malls has been improving and even exceeded pre pandemic levels during weekends and holidays, he added. "We have over 1.6 million square meters of gross floor area of commercial developments consisting of 45 malls, 56 commercial centers and seven office buildings. The funding for the expansion program of our investment properties is in place with our foray into the REIT space through VistaREIT last June 2022, he added. For our residential business, we have been aggressively launching vertical developments as we are maximizing the use of our prime land which have increased in value over the years. We ended 2022 with a land bank size of 2,902 hectares which is typically 8 to 9 years of development but now with more vertical developments in our prime land, our land bank represents at least 27 to 30 years of development." Total assets stood at P322.2 billion as of end December 2022 while equity was at P123.7 billion. Net debt to equity at the end of 2022 stood at 82% with an improvement from prior year's 91%. Capital expenditure for the 2022 was at P22.5 billion mainly for construction and land development. Land acquisitions remained muted as the Company disclosed that they are looking at maximizing its existing land bank.

[drbubb]

I still think these property stocks can move UP from here:  VLL: 1.71, VReit: 1.69, MEG:2.06

VLL-MEG-etc.  from Jul'22: Jun'23:  FLIP:

===

[drbubb]

COMPARISON with TLT, seems to clarify the main Trend & Breakout Points

TLT vvv : /$103.44, VLL: 1.69 (1.63%), VREIT: 1.65 (1.60%),

TLT vvv :

===

[drbubb]

Aug, 15, 2023:

 

VLL - Vista Land and Lifescapes, Inc.

 

C06372: Vista Land press release - 1

"Vista Land registered 83% growth in bottomline for 1st semester of 2023; launched P24B worth of projects"

Vista Land & Lifescapes, Inc., one of the country's leading integrated property developers and the largest homebuilder posted a net income of P5.8 billion for the 1st semester of 2023, up 83% from same period last year. The Company launched a total of P24.3 billion worth of projects across the country. Vista Land Chairman Manuel B. Villar Jr. said, "We are pleased with our performance for the 1st semester of 2023 as we have sustained our growth trajectory for the year. We have been launching more projects this year compared to last year. These launches will form part of our huge project pipeline, he added. It's also a big factor in our reservation sales performance which generated a total of P35.6 billion for the 1st semester which is 12% higher from same period last year." Our overall strategy for the group remains to be maximizing our land to its best use.

The Company reported a consolidated revenue of P18.3 billion for the period which is up 8%. Real estate revenue registered at P8.0 billion while rental income amounted to P7.9 billion for the six-months ended June 30, 2023. Gross profit was at P4.7 billion while EBITDA amounted to P10.0 billion. Vista Land improved its gross margin by over 300 basis points to 59%. The Company also recognized a gain from the proceeds of insurance amounting to P1.8 billion. Core net income (excluding the gain from insurance proceeds) is at P4.2 billion for the period.

... Overseas Filipino buyers which comprise about 60% of our total sales.

In terms of our leasing portfolio, of over 1.6 million square meters of gross floor area of commercial assets consisting of 45 malls, 56 commercial centers and 7 office buildings, we are reaping the benefits from the increased foot traffic and return to normalcy. Our strategy of maximizing our prime land is ongoing implementation, as we have been launching more Vista Estates across the country. These developments are mostly vertical and commercial projects which are geared towards the higher end of the income spectrum demand. Currently our land bank has a total of 3,085 hectares and is spread across the country. Total assets stood at P335.4 billion as of end June 2023 while equity was at P129.3 billion.

Net debt to equity at the end of the 1st semester is at 84%. Capital expenditure amounted to P12.2 billion mainly for construction and land development. Land acquisitions remained muted as the Company disclosed that they are looking at maximizing its existing land bank.

===

COMPARE:   8.15.23: Filinvest Land press release - 1

"Filinvest Land records 15% income growth in 1H2023"

Residential and rental segments drive year-on-year uptick Filinvest Land, Inc. (FLI), one of the country's largest real estate developers, reported an increase of 15% in net income attributable to equity holders of the parent for the first half of 2023, totaling Php1.39 billion. Total consolidated revenues and other income increased by 8% year-on-year from Php9.15 billion in 2022 to Php9.92 billion in 2023 as the full-range property developer's residential and rental business segments posted growth.

- 2

Office revenues increased by 1% to P2.29 billion due to newly signed leases in office buildings such as in Axis 1 and 2 in Northgate Cyberzone, Filinvest City and FLI EDSA Wack Wack in Mandaluyong City. In May this year, FLI signed a joint venture agreement with KMC Community, Inc. for the development, management, operation, and maintenance of flexible workspaces offering private serviced office seats and co-working seats in commercial buildings. This new business is expected to further enhance the company's revenue potential.

[drbubb]

New 5 Comparisons Chart, now 6, with CLI

VLL-Shng-etc / 1.61, Vreit (1.63, 101%), FLI (0.65, 40%), SHNG (3.54, 220%), ROCK (1.49, 92.5%)

 

[drbubb]

Vista just increased its dividend by over 110%!

 

VLL - Vista Land and Lifescapes: P1.68, PER: 2.75x, 18.5% of BV: 9.07,  Lev. 1.47 (169.2B/115.2B )

 

(169.2B, TotB/ 115.2B NW,= 1.47 Lev, / 17.27B Ebitda= 9.80 yrs)
Compare: SHNG, 2022
(8.31B, TotB/ 40.16B NW,= 0.207 Lev, / 5.16B Ebitda= 1.61 yrs)
MEG, 2022, 2.02
(94.90B, TotB/ 209.2B NW,= 0.45 Lev, / 24.68B Ebitda= 3.85 yrs)
MEG, 2018, 4.75
(63.72B, TotB/ 163.9B NW,= 0.39 Lev, / 25.12B Ebitda= 2.54 yrs)

 

C07206: Vista Land declaration of cash dividends, +112% yr-on-yr

Ex-Date: Oct 13, 2023 Type of Securities: Common Cash Dividend Date of Approval by Board of Directors: Sep 29, 2023 Other Relevant Regulatory Agency, if applicable: - Date of Approval by Relevant Regulatory Agency: N/A Type (Regular or Special): Regular Amount of Cash Dividend Per Share: Php 0.0620 Record Date: Oct 16, 2023 Payment Date: Oct 31, 2023 Source of Dividend Payment: Unrestricted Retained Earnings as of December 31, 2022

DIV:  '22: 0.0292 > '23: 0.0620, 3.69% D-Yield ( 1.68 /0.61 =PER: 2.75, E-Yield: 36.4%, paid 10%)

[drbubb]

VLL vs.VREIT: at 10.11. 1.73, 1.67

[drbubb]

I INVITE you to entertain the possibility...

That an important BOTTOM for the PHL Developer stocks may now be in place.

If so, that may be because TLT / Bonds are bottoming.  And REITS will do well too.

VLL-etc (1.68, 5.65%): / ALI (29.75), MEG (2.04, 6.86%), FLI (0.63, 2.12%): 7/22: YTD: 7/23:

If i am right, the "lower quality" developers with much lower PER's may outperform AyalaLand from here.

We are already seeing that with SHNG (3.58, 12.03%), as it progressively raises its dividend

===

I will talk about this at the next SAT Meetup.

And also tell you about an informal seminar that I may be hosting in the future

[drbubb]

VLL Raising DEBT

C07582: Vista Land clarification of news reports - 1

 

Source: BusinessWorld (Online Edition) Subject of News Report: "SEC clears fundraising of San Miguel, Vista Land"

Date of Publication: Oct 20, 2023

Clarification of News Report: "THE Securities and Exchange Commission (SEC) has approved the planned offerings of Ang-led conglomerate San Miguel Corp. (SMC) and Villar-led property developer Vista Land and Lifescapes, Inc. (VLL). During an en banc meeting on Oct. 17, the SEC resolved to render effective the registration statements of SMC and VLL to raise as much as P65 billion and P35 billion, respectively. . . . . Meanwhile, VLL will initially offer fixed-rate bonds worth P6 billion, with an oversubscription option of up to P4 billion, consisting of Series F bonds due in 2026 and Series G bonds due in 2028. The offering is part of the company's shelf registration of its debt securities program with a principal amount of P35 billion. VLL expects to raise more than P9.83 billion if the oversubscription option is fully exercised. 'It intends to primarily use the net proceeds to refinance maturing obligations and for general corporate purposes,' the SEC said. The bonds will be listed and traded at the Philippine Dealing & Exchange Corp. . .

[drbubb]

VLL-etc: Ytd: 1.60, ALI:32.20, MEG: 1.98, FLI: 0.61 update: 11.17

10.31: 1.60, ALI:32.20, MEG: 1.98, FLI: 0.61

[drbubb]

First HALF Results, 2023. Net up +83%; Maximizing Land

Vista Land & Lifescapes, Inc., one of the country’s leading integrated property developers and the largest homebuilder posted a net income of ₱5.8 billion for the 1st semester of 2023, up 83% from same period last year. The Company launched a total of ₱24.3 billion worth of projects across the country.

Vista Land Chairman Manuel B. Villar Jr. said, “We are pleased with our performance for the 1st semester of 2023 as we have sustained our growth trajectory for the year. We have been launching more projects this year compared to last year. These launches will form part of our huge project pipeline, he added. It’s also a big factor in our reservation sales performance which generated a total of ₱35.6 billion for the 1st semester which is 12% higher from same period last year.” Our overall strategy for the group remains to be maximizing our land to its best use.

The Company reported a consolidated revenue of ₱18.3 billion for the period which is up 8%. Real estate revenue registered at ₱8.0 billion while rental income amounted to ₱7.9 billion for the six-months ended June 30, 2023. Gross profit was at ₱4.7 billion while EBITDA amounted to ₱10.0 billion. Vista Land improved its gross margin by over 300 basis points to 59%. The Company also recognized a gain from the proceeds of insurance amounting to ₱1.8 billion. Core net income (excluding the gain from insurance proceeds) is at ₱4.2 billion for the period.

“We continue to deliver improvements in our residential business while our leasing business sustained its growth momentum for the period, said Manuel Paolo A. Villar, President & CEO of Vista Land. We have seen strong and sustained demand in our residential developments both horizontal and vertical segments especially from our Overseas Filipino buyers which comprise about 60% of our total sales. In terms of our leasing portfolio, of over 1.6 million square meters of gross floor area of commercial assets consisting of 45 malls, 56 commercial centers and 7 office buildings, we are reaping the benefits from the increased foot traffic and return to normalcy. Our strategy of maximizing our prime land is ongoing implementation, as we have been launching more Vista Estates across the country. These developments are mostly vertical and commercial projects which are geared towards the higher end of the income spectrum demand. Currently our land bank has a total of 3,085 hectares and is spread across the country.

Total assets stood at ₱335.4 billion as of end June 2023 while equity was at ₱129.3 billion. Net debt to equity at the end of the 1st semester is at 84%. Capital expenditure amounted to ₱12.2 billion mainly for construction and land development. Land acquisitions remained muted as the Company disclosed that they are looking at maximizing its existing land bank.

> https://www.vistaland.com.ph/news/vista-land-registered-83-growth-in-bottomline-for-1st-semester-of-2023-launched-24b-worth-of-projects/

[webmaster]

Buy: VLL w/ Ratio at 95% or Lower?

VVV3:  VLL:  1.61, -0.01 /VREIT: 1.68, -0.01= 95.8%, 89.62 11.17.23 update

Date ==:  VLL / VReit: Disc.    Pct  :    /TLT,  %TLT
11.17. 23:   1.61 / 1.68 : (0.07): 95.8%, 89.62* 1.80%
10.31.23:  1.60 / 1.66: (0.06): 96.4%, 83.58, 1.91%
09.29.23: 1.64 / 1.69: (0.05): 97.0%,  88.69, 1.85%
08.29.23: 1.59 / 1.65: (0.06): 96.4%, 96.31,  1.65%
08.02.23: 1.57 / 1.67 : (0.10): 94.0%, 97.09, 1.62%
======

Switch from ALI (29.50, -0.30) > VLL (1.64, 5.56%)... Or, if really brave > FLI (0.56, 1.90%)

VLL-etc: Ytd: 1.64, ALI: 29.50, MEG: 2.04, 6.91%, FLI: 0.56 update: 11.17

10.31: 1.60, 4.97% /ALI: 32.20, MEG: 1.98, 6.15%,  FLI: 0.61, 1.89%

[webmaster]

VLL - Vista Land And Lifescapes, Inc. - 1

 

Vista Land sustains growth with 9M'23 net income up 70%; launched projects worth P40B

Vista Land & Lifescapes, Inc., one of the country's leading integrated property developers and the largest homebuilder posted a net income of P8.2 billion for the 1st nine months of 2023, up by 70% from the same period last year. As of the end of the 3rd quarter of 2023, the Company has launched 28 projects with an estimated project value of about P40.0 billion. Vista Land Chairman Manuel B. Villar Jr. said, "We are delighted with our results, as we remain optimistic with the industry for the rest of the year with the strong GDP growth of 5.9% coupled with sustained growth in OF remittance and revenge spending from consumers, all of which contributed to the positive performance of the group. We have been launching more project this year which was a factor in the 10% growth in our reservation sales to P53.1 billion for the period. With the holiday season approaching, we eagerly anticipate welcoming an increased number of customers to our commercial centers as well as our Overseas Filipinos coming home during the holidays which bodes well for our residential sales. As we move forward, our aim is to maximize our existing resources specifically our land as we remain committed to our mission of building communities across the Philippines that stand the test of time." The Company's consolidated revenue for the first nine months 2023 registered at P27.4 billion, marking an 18% increase. Real estate revenue returned to double-digit growth with a 17% increase to P12.2 billion, while rental income amounted to P11.8 billion for the nine months ended September 30, 2023. Gross profit reached P7.2 billion, and EBITDA rose by 21% to P15.2 billion. Vista Land also improved its residential gross profit margin by over 400 basis points to 59%. The core net income (excluding the gain from insurance proceeds) registered an increase of 30% to P6.8 billion for the period.

2 /

Manuel Paolo A. Villar, President & CEO of Vista Land said, "We are consistently enhancing our residential business by offering more vertical and upscale projects, while our leasing sector is maintaining its growth trajectory for the period. The demand for our residential developments, spanning both horizontal and vertical segments, remains robust and sustained, with the strong interest from Overseas Filipino buyers, constituting approximately 60% of our total sales. Our leasing portfolio, of over 1.6 million square meters of gross floor area across 45 malls, 56 commercial centers, and 7 office buildings, has experienced increased foot traffic exceeding pre pandemic levels. Our strategic approach to maximizing prime land is actively underway, with the continuous launch of Vista Estates nationwide. Currently, our land bank spans over 3,087 hectares and is strategically located across the country. The financial condition of the Company for the period ended September 30, 2023, remains healthy, allowing financial flexibility for Vista Land.

Total assets at the end of September stood at P337.8 billion, with equity at P130.9 billion. The net-debt-to-equity ratio at the end of the period was 82%. The Company spent P21.3 billion for capital expenditures for the period, directed mainly towards construction and land development. The Company is concentrating on maximizing its current land bank, demonstrating a prudent and strategic approach to growth.

 

[webmaster]

"Large" GAP of P0.14, updated VREIT > VLL

Date ==:  VLL / VReit: Disc.    Pct  :    /TLT,   %TLT
04.04.24: 1.58 / 1.72: (0.14):  91.9%, 92.02,  1.72%
12.14.23 :  1.62 / 1.70: (0.08): 95.3%, 96.84,  1.67%, ex.div. 1.62/ 1.74= 93.1%
11.17.23 :   1.61 / 1.68 : (0.07): 95.8%, 89.62* 1.80%
10.31.23:  1.60 / 1.66: (0.06): 96.4%, 83.58, 1.91%
09.29.23: 1.64 / 1.69: (0.05): 97.0%,  88.69, 1.85%
08.29.23: 1.59 / 1.65: (0.06): 96.4%, 96.31,  1.65%
08.02.23: 1.57 / 1.67 : (0.10): 94.0%, 97.09,  1.62%
======

VREIT (1.70) - VLL (1.61) : 0.09, Div. Payment of 0.04 coming this week for VREIT

Compare Yields, PERs:  VREIT: 0.16/ 1.70= 9.41%, 4.64 PE, 

                                                  VLL  : 0.06/ 1.61= 3.85%, 2.75 PE (VR. yield is 5.56% higher)

TLT vs.V-V : /$98.89 : VLL: 1.63/ 1.65%, VReit: 1.69/ 1.71%, PSEI: 6,547, 66.2, at 12.19.23

                TLT: $98.89 : VLL-1.63/ 1.65%, VReit-1.69/ 1.71%, PSEI: 6,547, 66.2, at 12.19.23

Letter below denotes: R- swap to vReit, L- swap to vLL

w/ psei: last: 1.69/6,218 0.00% at 12.12, ?? at 12.20: 

VLL vs. TLT:  Swapped from VREIT > VLL at 1.62, 1.67% TLT.  PER: 2.67, NAV: 9.07, Yield: 3.83%

Date ==:  VLL / VReit: Disc.    Pct  :    /TLT,   %TLT
12.14.23 :  1.62 / 1.70: (0.08): 95.3%, 96.84,  1.67%, ex.div. 1.62/ 1.74= 93.1%

[webmaster]

Someone may have seen this plan. and LIKES IT

C08788: VistaREIT three-year investment strategy

In compliance with Rule 6, Section 10.1 of the revised Implementing Rules and Regulations of Republic Act No. 9856 (REIT Act of 2009), VistaREIT, Inc. hereby submits its Three-Year Investment Strategy as prepared by VFund Management, Inc.

 

#1 in Volume today so far / before 11am

PRICE   VOLUME TRADED  VALUE TRADED   # TRADES   %TOTAL

  1.67         118,403,000     :     197,733,010    :      4     :      99.99%

  1.69                 10,000      :             16,900      :      6      :        0.01%

====

[webmaster]

DOGS (FLI & VLL) are finally rallying (too)... Following TLT/ Bonds higher: 10d:  w/FILRT: see below 

DOGS#2: w/FILRT: 10d:

[webmaster]

Is the Yield high enough, or are there Hidden Risks?

VLL (1.76 +0.06 pe:3.00, 3.52%) / VReit (1.71 unch.) = +0.05, 102.9%. / TLT 96.29 : 1.83%, 1.78%

VLL-vs-VReit etc.: 1.76 +0.06 vs 1.71= 102.9%, FLI (0.65 +0.03) / FILrt (2.84)= 22.9%, TLT (96.29)

VREIT seems to be the "Good Buy", and FILRT maybe still a "Good-Bye"

VREIT and FILRT REVIEW and ANALYSIS / Highest Dividend REITs INVESTING Philippines : Should You Buy?

Moneywise Metrics. Nov. 10th, & Later

Reit -   :  LAST: P/BV: Q-div: Yield: P’Out: BUY@: SIZE, as of :  O.R. , BPO%
Nov.10th
FILRT  :  P2.97:   ??? : .0710: 9.56% 134%:  N /A :  330.4K, 12’22, 89%, 80. %
VREIT  :  P1.68: 0.26: .0396: 9.36% 29.%: P1.80:  256. K, 2023?, 91%, Malls
Dec.13th
RCR      :  P4.70: 0.89: .0979: 8.10%  85.%: P4.88: 480.5K, 12’22, 98%, 77.1%
MREIT  :  12.10:  0.61: .2460: 7.97%  80.%: 12.20: 324.7K, 03’23, 95%, 77. %
DDMPR:  P1.19:  0.41: .0255: 7.87% 156%: P1.28: 4.76 Hectares
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[webmaster]

UPDATE: VLL (1.66) / VReit (1.74) = 95.4% / "Buy: VLL when Ratio is 95% or Lower?"

Update: FLI (0.70) / FILRT (3.22) = 21.7%

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[webmaster]

STR = VistaMalls:

Vista Malls is a shopping mall chain of property developer Vista Land founded and chaired by Filipino billionaire and former politician Manny Villar. It is one of the growing major shopping mall retailers in the Philippines, along with Ayala Malls, Megaworld Lifestyle Malls, SM Supermalls and Robinsons Malls.

STR-etc: 2016: Jun'2018: Jun'2020: May'2022: ytd / Last: 2.35 +0.07 / VLL: 1.58 = 148.7%

Jun'2020: ytd / 

STR-etc: 2016: Jun'2018: 2.35 +0.07 / VLL: 1.58 = 148.7%

[webmaster]

The "Unfavored Two"  (VLL and MEG) remain under pressure

VLL-etc (1.49) /R0CK: (1.49)= 100%, MEG (1.75, 117%), CDC (0.72, 48.3%); Shng (2.75, 184.5%)

Shng (2.75, 184.5%)

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[webmaster]

VLL NOTES: from 2023 Annual report

OS: 3/24: 13.1B sh -treas. 416M= 12.698B sh

=======:     2021 :    2022 :   2023 : 
R.E. sales:    17.4B ,   12.79B,  15.22B 
Revenues:   29.63B, 28.84B, 33.96B, +17.8% 
Net Inc.   :      6.42B,    6.12B,  8.66B, +41.5% 
/sh. 12.7B. :    0.506,    6.12B,  8.66B, 

Res. Sales / B’down: 64% House&Lots. 36% Condos

Company believes that it has the largest market share in the “house and lot” segment among the top seven listed real estate developers

Rental Inc. ’22: 13.74B,  ’23: 16.02B, +16.6%

VLL > 88.3% of Vistamalls (STR) Malls, BPOs
VLL > ??? of VREIT

Six distinct business units, and % Revs.  Camella Homes (30%), Communities Philippines (40%), Crown Asia (4%), Brittany (6%), and Vista Residences (20%) are focused on residential, while Vistamalls is involved in commercial property development.

LAND bank: 2,422. h’s Raw  + 411 h’s in JV’s

As of 31 December 2023, the Company employed a total of 55 architects and 262 engineers, which includes those from Vistamalls.  Housing unit construction will typically take three to 12 months to complete depending on the size. For vertical projects, midrise buildings take two to three years while high rise buildings take four to five years to complete.

STR owns a portfolio of various retail malls and commercial strips and BPOs with a combined GFA of 1.6 million sq meters as of December 31, 2023

The Company’s retail malls are strategically located in areas in close proximity to transport hubs and other key infrastructure in growth markets such as Las Piñas City, Mandaluyong City and the province of Bulacan. For example, the Company’s mall in Mandaluyong City, Starmall Edsa-Shaw is directly connected to the Metro Rail Transit Line 3 (“MRT 3”) Shaw station, a major railway station in Metro Manila. In addition, the same mall houses various transportation terminals which serve as nodes for people transiting within and between Metro Manila and nearby provinces.

Mar’2007 deal: issued 4.53B shs for Brittany, Crown cos; etc

Apr’2007 sale: 3.02B shs. bought by Fine & Brittany

Nov’2015: bot 88% of Vistamall shs. from Fine, Villar, etc
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[webmaster]

STR (P2.28) vs other Vista co's

Sym: Price : BkVal: %BV:  PER : EPS : Divs.: Yield: ShOS: MCap: %VLL: M.V.  
VLL : P1.48:  10.46:  14%: 1.94: 0.763 .062: 4.19% 11.78B 17.44B 100%   —— : 
STR : P2.28: P5.33: 43%: 2.14: 1.065: .031: 1.34% 8.39B: 19.13B 88.3% 16.9B  
Vreit: P1.74:  P3.67: 47%: 5.15: 0.338: .173: 9.92% 7.49B: 13.03B 63.3% 8.25B  
HVN: 1,085:  22.00: 00%: 493. xxxx.   .000  N/A  : 643.M:          VLL’s>  25.1B  
TLT : 91.70: ==== ====  ——:  —— : —— : 4.55%  ——- :          

Shana's Momee  6 years ago

@shanamomee 

$VLL is actually the mother company of $STR and $HVN .. it owns more than 80% of the latter.. you may be wondering why $VLL is the cheapest.. for one, it has way more shares than the two.. so, medyo mas mahirap sya iaangat.. $HVN , which is the most expensive actually has the lowest outstading shares... go figure... pero fundamental wise, $VLL is the soundest. Undervalued with healthy P/E ratio and P/BV... Kung titingnan nyo funda ratios ni $STR and $HVN , super overvalued sila... #mytwocents #TAYOR

[webmaster]

Debt market heats up: Villar’s Vista Land unit ups the ante with 9.5% bond offering

BILYONARYO.COM   July 23, 2024

The five-year bonds are part of Vista Land’s $2 billion medium-term note program. Set to mature on Jyly 29, 2029, these bonds are guaranteed by Vista Land and its subsidiaries, including Brittany Corp., Camella Homes, Communities Philippines, Crown Asia Properties, Vista Residences, and Vista Malls.

Regulation S bonds are targeted at international investors, excluding the US.

> https://bilyonaryo.com/2024/07/23/debt-market-heats-up-villars-vista-land-unit-ups-the-ante-with-9-5-bond-offering/property/