Following the introduction of tighter measures to curb social gatherings, the team of analysts at DBS Group Research say they expect to see increased volatility in the trading of S-REITs that are dependent on the re-opening of the economy in the near term.

To Derek Tan, Rachel Tan, Dale Lai and Geraldine Wong, investors have been positioning themselves in recovery plays such as retail S-REITs, office S-REIT, as well as hospitality S-REITs, which have been performing well year-to-date (y-t-d), registering positive returns of between 4% to 8%.

However, in the immediate term, the analysts expect these S-REITs to underperform, but do not expect the sector to re-visit the lows seen in March 2020.

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