Overview
Key Statistics
* For consistency in market cap comparison, all S-REITs with foreign currency exposure have been converted to SGD
** Dividend yields are grouped by each REIT's major sector classification
Related Parties' Shareholdings
Lease Profile
* To ensure consistency in the Weighted Average Land Lease Expiry calculation, lease tenures exceeding 99 years (including freehold) are treated as 99 years
Debt Profile
Diversification Profile
Key Financial Metrics
Distribution Components
52 Weeks Range, Dividend Yield & P/NAV
The following list identifies REITs that met at least 2 out of 8 criteria for being in the +2SD/+1SD range for dividend yield and the –2SD/–1SD range for P/NAV, measured across 1-year, 3-year, 5-year, or 10-year periods:
- CDL Hospitality Trusts
- EC World REIT
- Frasers Logistics & Commercial Trust
- IREIT Global
- Keppel Pacific Oak US REIT, USD
- Lippo Malls Indonesia Retail Trust
- Manulife US REIT, USD
- Mapletree Industrial Trust
- Mapletree Logistics Trust
* MCFK counters are shown in bold
Wrap-Up
S-REIT prices inched up after Jerome Powell signaled a potential interest rate cut at the Jackson Hole event last week. The median Price-to-NAV ratio stands at 0.79, with 10 REITs trading above book value. The median dividend yield is 6.3%, with 7 REITs offering yields above 8%. On the downside, 4 REITs remain suspended from distributions, while 1 REIT is distributing only about 10% of its available income.
Looking ahead, a 25bps rate cut is widely expected at the upcoming September FOMC meeting, according to current CME FedWatch projections.
For more information, check out:
S-REITs Dashboard - Detailed information on individual Singapore REIT
S-REITs Data - Overview and detail of Singapore REITs
S-REIT Comparison - Comparison among Singapore REITs
REIT Review - List of previous REIT review posts
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*Disclaimer: The information presented on this blog is for educational and informational purposes only. The materials, including research and opinions, are based solely on my findings and should not be considered professional financial advice or a definitive statement of fact. I cannot guarantee the accuracy, completeness, or reliability of the information provided. I shall not be held liable for any errors, omissions, or losses that may occur as a result of using the information presented on this blog. It should be noted that the information presented on this blog does not constitute a buy, sell, or hold recommendation for any security. It is crucial to conduct your own thorough research and due diligence before making any investment decisions.
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