The REITs with the highest price to net asset value (P/NAV) ratios have been fairly constant this year. Four of them are industrial REITs: Keppel DC REIT, Mapletree Industrial Trust, Mapletree Logistics Trust, and Ascendas REIT. The fifth REIT is ParkwayLife REIT on which we have a longer story this week.

See: With new mandate, ParkwayLife REIT readies for next growth phase

While industrial REITs have fared better this year than other sectors in price performance and also in their DPU performances, ESR-REIT and Sabana Shariah Compliant Industrial REIT are trading below their NAV per unit.

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