Sunday, February 10, 2013

Sabana Shari’ah Compliant REIT

Sabana REIT is one of the newer and highest yielding REIT in Singapore (based on the current share prices). Since its debut in Nov 2010 near $1 range, it hit a low of $0.845 in Aug 2011, but has since appreciated and exceeded its debut price. It is currently trading at the last closing price of $1.225.

After the XD date of the last declared quarterly dividends of 2.41 cents, the share price managed to close the dividend gap in just 3 trading days. Its FY2012 results reported an 18% increase in 4Q gross revenue and exceeded its forecast. At the reported NAV of $1.10 per unit, I think this is a bargain with opportunity for further growth and share price appreciation.

Dividend History:
2011 Jun: $0.0304
2011 Sep: $0.0218
2011 Nov: $0.0214
2012 Feb: $0.0217
2012 May: $0.0226
2012 Aug: $0.0227
2012 Nov: $0.0234
2013 Feb: $0.0241

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