VistaREIT Q2 div is actually a blended special/regular dividend

The VistaREIT [VREIT 1.74 0.57%] Investor Relations department confirmed to me that the VREIT Q2 div was actually a combination of a special dividend (P112 million) from income generated from May 1 through June 14, and a regular dividend (P45,100,616) from income generated in the final half of June, from June 15 through to VREIT’s listing on June 30.

The IR department also updated VREIT’s occupancy rate to 97% (up from 91%), and its WALE to 4.1 years (down from 5.1 years).

MB BOTTOM-LINE

Thanks to the VREIT IR department for their quick response, and for wishing me good “VHealth”.

Haha.

Let’s forget about the “special” part of this dividend for a second, and just focus on the “regular” component to see how VREIT’s first dividend compares to its REIT Plan guidance of an 8.25% yield (based on the IPO offer price of P1.75/share).

If the regular dividend represents (roughly) what shareholders get from half of a month’s distributable income (~P0.006/share), then we could annualize this amount by multiplying it by 24 (the number of half-months in a year) to get a full-year dividend of P0.1443/share, which, at VREIT’s IPO price, represents an estimate annual yield of 8.24%, right in-line with VREIT’s guidance.

Now they just have to keep doing it!

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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.