Shares & Derivatives
IREIT Global Review @ 28 February 2021
By REIT-TIREMENT  •  February 28, 2021
Basic Profile & Key Statistics IREIT Global s a pure office REIT that owns 9 properties in Germany and Spain. Performance Review Gross revenue, NPI and distributable income increased YoY by 11.8%, 13.2% and 17.7% respectively due to contribution from the balance 60% in Spanish properties. However, DPU decreased by around 19.6% YoY from 2.71 cents (2H 2019) to 2.18 cents due to enlarge unitholders base from the recent rights issue. Lease Profile
  • Occupancy is slightly high at 95.8%
  • WALE is short at 3.5 years
  • Highest lease expiry within 5 years is slightly high at 31.7% which falls in 2024
  • All properties are freehold
  Debt Profile
  • Gearing ratio is slightly low at 34.8%
  • Cost of debt is low at 1.8%
  • Fixed rate debt % is high at 86.3%
  • All debts are secured debts
  • WADE is long at 5.3 years
  • Highest debt maturity within 5 years is low at 0%, but 100% of debt maturity falls in 2026.
  • Interest coverage ratio is high at 7.4 times
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By REIT-TIREMENT
I am Vince and welcome to my blog. I started this blog on 1st January 2019. Since the start of my investment journey, I have been fond of REITs because of its dividends. REITs allowed you to become a property landlord and get rental income without having to fork out large sum of initial capital, look out for tenant as well as manage the properties ...
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