Is this REIT a value Buy at it's Current Price? - Conclusion

Disclaimer: This blog post is for entertainment purposes only where I share my findings and opinions about stocks. It does not constitute any buy or sell recommendation. Always DYODD before making any trade or investment decision.

Part 1 :  Link

Capitaland Retail China Trust has recently released it's quarterly result. I have highlighted the portion which I as a shareholder would be interested in. The headline may looks good that distributable income have risen by 10% but more Units could be issued which end up diluting our income. End of the day, growth of DPU matters most to income investors. Fortunately, DPU does improve y-o-y amid not exactly a stellar result. With that said, would CRCT still be a good buy?

Based on an annualised DPU of 10.59 cents and a closing price of $1.54, an annualised dividend yield would be 6.9%. Whether that's an acceptable yield would be up to individual. My recent purchase price was $1.49. Based on that purchase price, my dividend yield would be 7.11%. The total number of CRCT shares that I owned at the time of writing this post is 11422 shares. 

Latest Financial figures:
Occupancy - 97.4%
Gearing - 32.1%
2Q 2018 DPU - 2.64 cents , 0.8% increase y-o-y
NAV - $1.71 (discount to NAV)
Average Cost of Debt - 2.60%
Interest Coverage - 5.9%
Unencumbered Assets - 100%
80% of debt is hedged into fixed rates

Those interested in purchasing some retail REITs shares, could compare some of these  metrics with other retail REITs to decide which stock would make a better purchase at their current price and dividend yield. What I like about CRCT is the option to receive dividends in the form of Units. If the price continues to fall, I could elect to receive Units instead of Cash. The downside is ending up with odd lots. Since I plan to hold this stock for longterm, this issue doesn't matter to me.