I got to admit that Elite is abit of a weird purchase for me. The number 1 no no for me for buying reit is high leverage and Elite is 1 of the highest leveraged reit on the SGX. It's currently at 42.8%.
Another thing that i looked out for is the P/NAV ratio. I prefer reit that is trading at a discount to the NAV, but not at a HUGE discount which most likely mean the reit has some serious red flag that investors really dont like. Currently Elite is trading at a premium to the NAV.
There is essentially only 1 client for the reit, which is the UK govt. Talk about not putting all your eggs in 1 basket!
Elite is also relatively small in terms of market cap of around 300m GBP. A snapshot of the financials can be seen below. Credits to Reitoracle
...
