SabanaREIT

SabanaREIT: DPU better than forecasted 8.63c in prospectus, 1Q at 3.04c with annualized DPU at 8.81c. Net property income came in at $22.9m +0.7% from forecast. At current price of $0.945, annualized DPU is approx 9.3% and current P/B is 0.9x. Co’s leverage is at 24.9% with long-term target at 40% and weighted avg lease term is approx 3.5yrs (60% of leases expiring in 2013 and 40% in 2015).