3 REITs Dishing Out Dividends This Week

There are a few real estate investment trusts (REITs) that are going ex-dividend during the week. Investors who want to receive dividends from these REITs (dividends from REITs are technically called distributions) will need to own them before a specific date this week. Let’s take a look at three such REITs.

1. Tuesday, 2 February 2016

Mapletree Commercial Trust  (SGX: N2IU) will be going ex-dividend tomorrow.

While the REIT’s name may suggest that it has a focus on commercial real estate, it actually has stakes in one of Singapore’s largest retail malls, Vivo City. The other properties in Mapletree Commercial Trust’s portfolio are the commercial buildings PSA Building, Bank of America Merrill Lynch Harbour Front, and Mapletree Anson.

The REIT is paying 2.08 Singapore cents per unit for its fiscal third quarter (the three months ended 31 December 2015).

For the quarter, Mapletree Commercial Trust’s gross revenue increased 1.2% year-on-year to S$73.8 million. This came about due to positive contributions from VivoCity and Bank of America Merrill Lynch Harbour Front which were partially offset by lower revenue from Mapletree Anson and PSA Building. Meanwhile, net property income (NPI) grew 3.5% year-on-year to S$56.6 million, largely due to a decline in property operating expenses.

The units of the REIT closed at S$1.335 on Friday. At that price, they are trading at a historical price-to-book (PB) ratio of 1.1 and have a trailing distribution yield of 6%.

2. Wednesday, 3 February 2016

On Wednesday, CDL Hospitality Trusts (SGX: J85), a stapled trust consisting of a real estate investment trust and business trust, is slated to go ex-dividend.

As its name suggests, CDL Hospitality Trusts owns hospitality-related assets in Singapore, Australia, New Zealand, the Maldives, Japan and the United Kingdom. In Singapore, Orchard HotelGrand Copthorne Waterfront Hotel, and M Hotel are some of the properties in its portfolio.

The REIT is giving out 5.37 Singapore cents per unit for the second half of its fiscal year (the six months ended 31 December 2015).

In the fourth quarter of 2015, gross revenue climbed by 11.1% year-on-year to around S$50 million. But, NPI had declined by 2.2% to S$37.8 million.

The hospitality trust attributed the poor showing to lower contributions from its Maldives resorts and hotels in Singapore. Also, currency weakness against the Singapore dollar brought about lower fixed rents from the Australia and New Zealand hotels.

Fortunately, inorganic contributions from Hilton Cambridge City Centre and the hotels in Japan, which were acquired on October 2015 and December 2014 respectively, slightly mitigated the decline in NPI.

CDL Hospitality Trusts last traded at S$1.305 on Friday. At that price, the trust is valued at 0.82 times its latest book value and has a trailing distribution yield of 7.7%.

3. Thursday, 4 February 2016

Thursday is the day when AIMS AMP Capital Industrial REIT  (SGX: O5RU) will be going ex-dividend. The REIT’s portfolio consists of 26 industrial properties, 25 of which are located in Singapore. The remaining property is in Australia.

The REIT is giving out 2.85 Singapore cents per unit for its fiscal third quarter (three months ended 31 December 2015).

For that three month period, AIMS AMP Capital Industrial REIT’s gross revenue clocked in at S$32.5 million, up 9.5% as compared to a year ago. Meanwhile, NPI went up from S$20.5 million a year ago to S$21.1 million in the latest quarter, an increase of 2.7% year-on-year.

The good top-line showing during the quarter was mainly due to a S$1.3 million property tax recovery, rental contribution from the Phase Three development of its property at 20 Gul Way, and higher recoveries from two of its properties.

The trust closed at S$1.335 on Friday. It is trading at a historical price-to-book ratio of 0.9 and has a trailing distribution yield of 8.5%.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.