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DBS sees ‘breakout month’ for S-REITs, but warns that focus may soon shift to results and rates

Lim Hui Jie
Lim Hui Jie4/5/2022 11:18 AM GMT+08  • 3 min read
DBS sees ‘breakout month’ for S-REITs, but warns that focus may soon shift to results and rates
Office, retail and hospitality are DBS’s top picks for S-REITs.
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Singapore REITs (S-REITs) experienced a “breakout month” on news of domestic relaxation and border reopening trends in Singapore, with the FTSE ST Real Estate Investment Trusts Index (FSTREI) climbing 5.5% m-o-m, beating the STI’s rise of 5.1% m-o-m.

In a flash note on April 1, DBS Group Research’s Geraldine Wong and Derek Tan says catalysts for the sector were “a mixed bag”. But there was a lift-off from January and February, when many stocks reached a 52-week low.

They add that while sentiment continues to be mixed given the risk of geopolitical uncertainties, potentially more US Federal Reserve rate hikes in the pipeline and inflation risks, domestic catalysts were a breakthrough for the S-REITs sector.

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