iEdge S-REIT Index Top Performers from April 14 to 24
| Trust Name | Price Change (%) | Net Institutional Flows (S$m) | Net Retail Flows (S$m) |
| MANULIFE US REIT | 14.0 | (0.2) | 0.1 |
| FRASERS LOGISTICS & COMMERCIAL TRUST | 11.8 | 2.4 | (7.9) |
| CAPITALAND CHINA TRUST | 11.6 | 2.7 | (4.3) |
| CDL HOSPITALITY TRUSTS | 9.6 | 1.2 | (1.6) |
| FRASERS HOSPITALITY TRUST | 8.0 | 2.7 | (2.9) |
| FAR EAST HOSPITALITY TRUST | 7.8 | 0.1 | (0.1) |
| SASSEUR REIT | 7.8 | (0.1) | 0.1 |
| FRASERS CENTREPOINT TRUST | 7.6 | 12.2 | (21.0) |
| SUNTEC REAL ESTATE INV TRUST | 7.4 | 2.3 | (4.8) |
| MAPLETREE LOGISTICS TRUST | 7.4 | (0.2) | 2.1 |
Source: SGX, Bloomberg
Real estate investment trusts in Singapore (S-REITs) have rebounded strongly over the past two weeks in line with the broader recovery in the Singapore market following the sell-off in early April.
As of Thursday’s (April 24) close, the iEdge S-REIT index has climbed 5.9 per cent since April 11, with all 30 constituents ending flat or higher. S-REITs with international exposure as well as those holding hospitality assets ranked among the top performers.
Over the past two weeks, the top 10 performers in the iEdge S-REIT index mostly saw net institutional inflows, with these counters receiving a combined S$23.3 million in net institutional inflows from April 14 to 24.
However, institutional and retail investors were net sellers of the broader S-REITs sector over the same period. From April 14 to 24, institutional investors net sold S$36.6 million in in S-REITs, bringing their total net outflows for the sector to S$465.1 million for the year-to-date.
Meanwhile, retail investors net sold S$64.4 million over the same period, reversing net buying activity earlier this month. For the year-to-date, retail investors remain net buyers of the S-REITs sector, with total net inflows of S$261.9 million
CapitaLand China Trust (CLCT) ranked among the top three iEdge S-REIT index constituents over the past two weeks, with its units rising over 11 per cent from April 14 to April 24.
CLCT’s Q1 business update on April 24 showed that it maintained high occupancy for its retail portfolio of 97.7 per cent, with positive rental reversions of 0.5 per cent.
The REIT’s business parks also had stable occupancy of 83.7 per cent, while logistics parks saw 95.7 per cent occupancy.
The CEO of CLCT’s Manager noted in a recent SGX kopi-C interview that CLCT’s malls mainly serve China's middle-income consumers, and the tenants have little dependence on US-imported products. He added that although US tariffs have introduced volatility to capital markets, the direct impact on CLCT's operations remains minimal.
Elsewhere, Mapletree Logistics Trust (MLT) full-year results, released on April 23, showed stable operating performance with 96.2 per cent occupancy as of end March, and positive rental reversion of 5.1 per cent for the fourth quarter.
The Reit recorded positive rental reversions in all markets except China. MLT’s manager noted that the diversified portfolio mitigated headwinds from higher borrowing costs and China weakness.
MLT’s manager added that the changing trade policy landscape is unprecedented and evolving and tenants are expected to take a cautious approach to leasing and expansion in the short term. However, the majority of MLT’s tenants are serving local domestic consumption, accounting for around 85 per cent of portfolio revenue as of its fourth quarter.
MLT’s units rebounded 7.4 per cent from April 14 to 24, ranking it among the top 10 index performers.
Similarly, Suntec Reit units also gained 7.4 per cent over the same period.
Suntec Reit, which also announced its Q1 business update on April 24, reported improved distributable income (DI) for the period ended March, rising 4.3 per cent on year to S$45.9 million. Distribution per unit was also 3.4 per cent higher year-on-year for the first quarter.
The manager noted that DI was improved due to lower financing costs as well as better operating performance, with all properties, except for 55 Currie Street, Adelaide, registering stronger operating performance.
Some 13 S-REITs have already released their financial results or business updates for the financial period ending March. Another 12 S-REITs are expected to release their latest filings this week, including STI constituents CapitaLand Ascendas REIT, Mapletree Industrial Trust, and Frasers Centrepoint Trust.
For more research and information on Singapore’s REIT sector, visit sgx.com/research-education/sectors for the SREITs & Property Trusts Chartbook.
REIT Watch is a regular column on The Business Times, read the original version.
Enjoying this read?
- Subscribe now to our SGX My Gateway newsletter for a compilation of latest market news, sector performances, new product release updates, and research reports on SGX-listed companies.
- Stay up-to-date with our SGX Invest Telegram and WhatsApp channel.
