Sabana REIT, the world’s first Shari’ah compliant REIT reported its maiden results
Current share price: 94 cents
Annualized DPU: 8.81 cents
Dividend Yield: 9.3%
DPU for last 5 months: 3.04 cents
Assets:892 mil
Cash:41 mil
Debts:215mil
Debt/Asset:24%
Qtr Income:22.9 mil
Qtr Net Operating Cash flow:53 mil (includes 31 mil in Payable increase!)
Qtr Capex on existing properties: 0 mil
Qtr Free Cash flow:53 mil (22 mil if minus the payable increase)
Qtr Interest Expense paid:2 mil
Qtr Distribution to share holders: Not known. No past results.
PTB: 0.93 times
Lease Expiry Profile: 3.5 years
Land Lease Term: 40.9 years average
Occupancy: Near 100%
Interest Cover: 7.9 times
Average all-in financing cost: 4.8%
Headroom to Leverage up: 122 mil or 48% of debts
Could boost NPI by: 22.9*(12/5)*(122/892) = 7.5 mil
This REIT have been underwater since IPO. At ......
