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23-05-2015, 11:27 AM
(This post was last modified: 23-05-2015, 12:36 PM by Curiousparty.)
The Business Times Singapore, April 22, 2015 Wednesday - Higher rentals, occupancies boost Mapletree Industrial's Q4 DPU (extract)
The Reit's average portfolio passing rent rose to S$1.84 per square foot per month (psf/mth) from S$1.83 psf/mth in the preceding quarter, thanks to positive rental revisions for renewal leases.
"Overall rents for multi-user industrial developments are expected to ease further due to supply pressures, while rents for business parks and higher specification buildings are expected to strengthen on the back of a tightening in supply," it said.
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Even if we just use $1.5 PSF
Potential Recurring revenue = 2mil sq ft x $1.5 PSF x 12 mth = ~$36mil
Assuming NPM (net profit margin) for recurring revenue of 50%, recurring net income = ~$18mil or recurring EPS 5.6 cents or dividend yield of 5.8%, bearing in mind that both the bases in terms of space (Sq ft) and rate (PSF) have yet to reach a steady state. They are still increasing.
All this is before considering its development profits.
The Reit's average portfolio passing rent rose to S$1.84 per square foot per month (psf/mth) from S$1.83 psf/mth in the preceding quarter, thanks to positive rental revisions for renewal leases.
"Overall rents for multi-user industrial developments are expected to ease further due to supply pressures, while rents for business parks and higher specification buildings are expected to strengthen on the back of a tightening in supply," it said.
___________________________
Even if we just use $1.5 PSF
Potential Recurring revenue = 2mil sq ft x $1.5 PSF x 12 mth = ~$36mil
Assuming NPM (net profit margin) for recurring revenue of 50%, recurring net income = ~$18mil or recurring EPS 5.6 cents or dividend yield of 5.8%, bearing in mind that both the bases in terms of space (Sq ft) and rate (PSF) have yet to reach a steady state. They are still increasing.
All this is before considering its development profits.
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