AIMS DRP (2Q FY2012): Not subscribing

I have received the AIMS DRP letter on Friday. Based on the current prices ($1.38) for AIMS, it is much lower than the DRP offer price of $1.4378. This makes it unattractive to apply for the DRP tis round. Looks like I will give it a miss for the DRP this round. If it drops further, I may buy more in the open market. The current yield for AIMS is about 7.2%

AIMS DRP (2Q FY2012)

AIMS REIT has announced a DRP issue price of 1.4378 for the period Jul - Sept 2012.  In an earlier post, I posted that participated in the previous DRP.

See SGX annoucement here:
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_EC84889857D463E348257AAE003D8C30/$file/AIMSAMPIREIT_DRP_Unit_Issue_Price_2QFY2013_distribution.pdf?openelement

 I will be participating in this round's DRP. Again, I will try to apply for an "optimal" number of units.

Some details to note:

DPU: $0.025

issue price: $1.4378

Last done price: $1.465

The amount of DRP units allocated can be calculated using the formula below:

N = (S * D) / V

N is the number of DRP units to be allotted and issued.

S is the number of participating units held by the unit holder

D is the qualifying distribution per unit. In this case, it is 0.025

V is the issue price of the DRP unit. In this case it is 1.4378

 
N will be rounded down. Any fractional entitlements will be disregarded.

Since D and V are fixed, we can re-write the formula as:

N = (S * 0.027) /1.1622

For those who want to calculate how many units they want to participate to get a certain number of units, they can use the above formula.

Related Posts:
AIMS DRP (Aug-Sept 2012)
AIMS DRP: The optimal number of units to apply?

REIT Ranking - Oct 2012

REIT ranking for Oct is as follows:

REIT	Mkt	Yield	NAV	Gearing	P/B	Total	P/B score	Gearing score	Yield score
SaizenREIT	$0.173	7.283%	$0.300	31.40%	0.577	6	3	1	2
LippoMalls	$0.485	6.515%	$0.560	9.30%	0.866	6	2	3	1
Fortune Reit HK$	$6.120	5.333%	$8.320	24.60%	0.736	6	3	2	1
Sabana REIT	$1.110	8.387%	$1.030	38.30%	1.078	4	1	1	2
AscendasHT	$0.910	7.486%	$0.814	34.30%	1.118	4	1	1	2
Cambridge	$0.665	7.137%	$0.612	35.80%	1.087	4	1	1	2
AscottREIT	$1.275	7.027%	$1.370	40.60%	0.931	4	2	0	2
First REIT	$1.045	6.861%	$0.791	15.90%	1.321	4	0	3	1
SuntecReit	$1.605	5.825%	$1.946	37.80%	0.825	4	2	1	1
Starhill Gbl	$0.785	5.631%	$0.940	31.20%	0.835	4	2	1	1
Frasers Comm	$1.245	5.539%	$1.500	36.80%	0.830	4	2	1	1
CapitaComm	$1.570	5.172%	$1.580	30.90%	0.994	4	2	1	1
AIMSAMPI Reit	$1.490	6.711%	$1.443	31.50%	1.033	3	1	1	1
Kep REIT	$1.190	6.555%	$1.230	44.10%	0.967	3	2	0	1
Far East HTrust	$0.985	5.656%	$0.930	30.50%	1.059	3	1	1	1
CDL Htrust	$1.935	5.592%	$1.570	25.50%	1.232	3	0	2	1
CACHE	$1.230	6.934%	$0.900	32.60%	1.367	2	0	1	1
MapletreeInd	$1.400	6.543%	$1.020	37.20%	1.373	2	0	1	1
CapitaRChina	$1.560	6.173%	$1.250	30.40%	1.248	2	0	1	1
MapletreeLog	$1.110	6.162%	$0.880	37.00%	1.261	2	0	1	1
Ascendasreit	$2.360	5.983%	$1.845	32.50%	1.279	2	0	1	1
FrasersCT	$1.955	5.545%	$1.530	30.10%	1.278	2	0	1	1
MapletreeCom	$1.210	5.111%	$0.952	37.70%	1.271	2	0	1	1
PLife REIT	$2.040	4.863%	$1.460	36.40%	1.397	1	0	1	0
CapitaMall	$2.110	4.564%	$1.620	37.60%	1.302	1	0	1	0

For how the scores are being calculated:
Reit Rankings - Mad Stranger's scoring system

Disclaimers:

It doesn't mean that if you see a high score for a particular REIT, you rush in to buy. The score system only serves as an indicator on how the REIT is with respect to its yield, P/B and gearing. The ranking is also heavily dependent on the accuracy of the data shown on reitdata.com , investors are advised to do your own cross checking. It is always prudent to do your own research before making any buys or sells.