Portfolio Review - My REIT performance

So the long awaited black swan, in the form of the invisible coronavirus, has finally arrives...

The event this year is unprecedented.  How could we ever imagine such things as cross-border travel and businesses would come to almost a complete halt? 

I have been through the Lehman brothers' crash, although my portfolio was very much smaller at that time.  My REIT counters accounted for almost half of my portfolio this time, and it is time to do a review on their performace so far.

1. Industrial Reits
 Grade A: Keppel DC Reit, Ascendas Reit, Frasers L&C Tr.
- Strong performance, still above my average price.

Grade B: Aims APAC Reit.
- In green territory, still above my cost price (with dividends collected).

Grade C: Cromwell Reit, ARA LOGOS Log Tr.
- In red territory, even with dividends accounted for.

Comment: Performance varies depends on the type and brand names.  Cromwell Reit just does not have buffer from the dividend collected.

2. Healthcare Reit
Grade A: ParkwayLife Reit.

Comment: Least affected and as strong as ever.  ParkwayLife Reit has climbed to number 4 in my portfolio.
 
3. Commercial Reit
Grade A: Mapletree Comm Tr.

Grade B: Suntec Reit, Kep Pac Oak Reit.

Grade C: Prime US Reit.

Comments: Prime US Reit just does not have buffer from the dividend collected. Performance of Commercial Reits down the road remains uncertain as WFH concept may become common.

4. Retail Reit 
Grade B: CMT, FCT, Starhill Global Reit, Sasseur Reit, SPH Reit.

Grade C: Lendlease Reit.

Comment: Retail Reits badly affected and there is no Grade A performer here. And don't kid ourselves that everything will return to normal soon.

5. Hospitality Reit 
Grade C: CDLHT, FEHT, ARA HT.

Grade D: Eagle HT (Dead).

Comment: Worst hit type of Reits.  Though the Malaysian workers staying in Singapore offer minor relief to the hospitality sector.  No sight on recovery.

6. Business Trust
Grade A: Netlink NBN Tr.

Grade B: Keppel Infra Tr, Accordia Golf Tr.

Comment: Infrastructure Trusts seem not much affected as they provide essential services.  Impact on AGT uncertain but does not look good.

The prices on most of the Reits are very tempting, but I am not buying as I have quite a substantial exposure already.

2019 Portfolio Review

I am becoming lazy to doing updates...

Time flies and 2019 is gone.  All my tradings are done and all dividends are collected.  It is time to do a final review on my portfolio's performace in 2019.

Top 30 positions of my portfolio at end 2019:
1. SGX
2. UOB
3. CMT
4. SATS
5. OCBC
6. FCT
7. Keppel DC Reit
8. ParkwayLife Reit
9. AIMS APAC Reit
10. Keppel Corp
11. CDL HTrust
12. Mapletree Com Tr
13. SPH
14. Suntec Reit
15. SingTel
16. SPH Reit
17. Frasers Com Tr
18. Ascendas Reit
19. Starhill Global Reit
20. Capitaland
21. Frasers L&I Tr
22. Keppel InfraTr
23. Bukit Sembawang
24. SIA Engg
25. Sembcorp Indust
26. VICOM
27. ST Engg
28. Frasers Property
29. Cache Log Tr
30. Netlink NBN Tr

Total dividends collected in 2019: $17,124.43
Average monthly dividends: $1,427.04 (7.2% up cf. 2018)
Portfolio yield: 4.78%

Top Dividend Contributors: 

1. SGX (10.29%):
- SGX is the top counter in my portfolio and no surprise that it is the top dividend contributor.  SGX has dividend payout every quarter, almost like a REIT.

2. UOB (7.64%):
- UOB has became 2nd in my portfolio.

3. AIMS APAC Reit (6.22%):
- Hope there will be no merger change to this Reit in 2020.

In 2018, the top 3 dividend contributors accounted for 23% of my total dividends.  In 2019, the top 3 dividend contributors accounted for 24% of the total dividends. So, not much diversification achieved this year.

Next, some New Year fun and amusement. 

Dividend Yield Winners (龙虎榜):

1. Sasseur Reit (9.54%):
- Small reit from China.....

2. KepPacOak Reit (9.50%) 
- Commercial reit from USA.....

3. Duty Free Int'l (9.43%)
- My only holding outside the mainboard.  


A return gain or loss will only be realised when I sell.  The current unrealised return winners and losers:

Unrealised Return Winners (英雄榜):

1. Keppel DC Reit (97.6% gain):
- Unfortunately I did not buy more as I did not expect it to rise up so much in value.

2. SGX (88.4% gain):
- Will stay for dividends and growth.

3. Mapletree Com Tr (71.1% gain):
- Unfortunately I did not buy more as I did not expect it to rise up so much in value.

Unrealised Return Losers (狗熊榜): 

1. Duty Free Int'l (41.4% loss)
- I probably should not have wandered outside the mainboard. 

2. Eagle HTrust (31.4% loss)
- Keep in cold storage.

3. Sembcorp Industries (27.4% loss)
- Keep in cold storage.


Wishing everyone Happy New Year and a Prosperous 2020.