Total shareholder return (TSR) is a metric that measures the total gain or loss for shareholders who own a company's stock. It's calculated by adding the capital gains from price increases to the dividends paid out. TSR is expressed as an annualized percentage.
How is TSR calculated?
- Opening share price: The initial value of the shares
- Dividends: The amount of dividends paid out to shareholders
- Capital gains: The increase in the value of the shares
- Capital returned: Any amount returned to shareholders
- Capital paid in: Any additional amount paid in by shareholders
- Closing share price: The final value of the shares

how about the stock price movement?

Total shareholdings have increased to ~799m. Does anyone know when the stock dilution stops?

I think KIPREIT's market cap has increased considerably to ~702m jumps from the previous ~550m while maintaining a dividend yield of ~7%, average book value per share is at 0.83x

https://www.thestar.com.my/business/business-news/2025/01/24/kip-reit-gets-nod-for-rm98mil-property-purchases
Upon completion, KIP-REIT’s property portfolio value is projected to reach an estimated RM1.5bil, with the total net lettable area expanding to 3.1 million sq ft.

In my opinion, shareholders who do not opt into the DRIP and instead take their dividends in cash will decrease their ownership percentage relative to those who reinvest, leading to dilution. The extent of this dilution will depend on how many shareholders choose to participate in the plan and how many new shares are issued as a result.

"On 21 October 2024, we announced that Bursa Securities had approved the listing of and quotation for up to 4,991,095 new ICAP Shares on the Main Market of Bursa Securities pursuant to our Dividend Reinvestment Plan that applies to the Interim Dividend. We had also fixed the Issue Price that applies to the Interim Dividend at RM2.92 per ICAP Share and the Books Closure Date on 6 November 2024."

Potential dilution of shares outstanding ~4.99 mil shares to the previous 140 mil shares amounting to ~145 mil shares

This statement implies the potential dilution of ICAP shares ownership when new shares are issued to accommodate the reinvestment dividends. Overall shares outstanding may be increased

"On 21 October 2024, we announced that Bursa Securities had approved the listing of and quotation for up to 4,991,095 new ICAP Shares on the Main Market of Bursa Securities pursuant to our Dividend Reinvestment Plan that applies to the Interim Dividend. We had also fixed the Issue Price that applies to the Interim Dividend at RM2.92 per ICAP Share and the Books Closure Date on 6 November 2024."

COL (City of London) holds 22% of outstanding shares held after disposing ICAP shares, while CDAM (Capital Dynamics) adds 19% to outstanding shares and holds 1.8% at present, according to investor stock services.