In terms of proportion of Top tenant revenue contribution, the REITs are ranked in this following sequence:
Rank 1: Elite Commercial GBP REIT at 99%
Rank 2: First REIT at 81.59%
Rank 3: Parkway Life REIT at 58.5%
Rank 4: iReit Global at 45.80%
Rank 5: Keppel DC at 41%
Rank 6: Lendlease Global at 29%
Rank 7: Starhill Global at 22.9%
Remember the article I wrote previously here - https://www.llamafinance.com/2020/05/are-you-sure-your-reits-dividend-is.html ?
It was on whether dividends is really sustainable for the top 3 REITs ranking in terms of top tenant revenue contribution above.
I have wrote about EC World and interestingly, found that 77% of its tenancy leads to the same entity. Meaning, 77% of its rents comes from a single source. And, this is only discovered after doing some drilling of documents.
Right now, First REIT has taken a hit from potential restructuring of its rental payments between Lippo Karawaci and Siloam hospitals. EC World REIT is under investigation from Commercial Affairs Department....