Cache Logistics Industrial Trust is an interesting logistics REIT that was listed in Singapore around May 2010.
Back then, majority of its properties was from CWT, a large logistics company in Singapore. The WALE was 6 years which is a long lease expiry by local REIT standards.
However, 6 years later, as the lease are expiring, most of the leases, which was under master tenancy was turned into multi tenanted. This reduces the overall occupancy and the rental income.
As of today, Cache Logistics Trust give a dividend yield of 7.1% on my Dividend Stock Tracker.
So what we have is a REIT that:
- Performed well as marketed by a very good IPO profile
- Then as lease expired, the dividend per unit went downhill
- Only one rights issue which is a 18 for 100 rights issue in Sep 2017 at 63 cents
I was doing some data collection and ...
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