Singapore REITs

Fallout from Hong Kong loan default to have limited impact on Singapore REITs

SINGAPORE (April 22): A trio of Singapore industrial real estate investment trusts (REITs) is feeling the fallout from CWT International’s default.

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Macro jitters propel S-REIT inflows to $240 mil in 1Q19

SINGAPORE (Apr 4): Singapore REITs (S-REITs) have a seen net institutional inflows of $82.7 million, $42.7 million and $114.2 million for the respective first three months of 2019, according to recent SGX data for 1Q19.

This brings the sector’s inflows to $239.6 million for 1Q19, with S-REITs being the top net buy sector in Jan 2019.

Ascendas REIT remains best proxy to the burgeoning S-REIT space: Maybank

SINGAPORE (April 4): Maybank Kim Eng is remaining “positive” on the Singapore REIT (S-REITs) sector on expectations of continued outperformance, while highlighting Ascendas REIT (A-REIT) as the best proxy to overall recovery across S-REITs.  

The research house has adjusted its FY19-21 distribution per unit (DPU) estimates by between -2% and +4%. It is also raising its target prices by 2-9% after adjusting for interest rate assumptions, although operating estimates remain mostly unchanged ahead of S-REITs’ results reporting over the coming weeks.

5 recommendations by Maybank as the S-REIT space eases into recovery mode

SINGAPORE (Feb 28): Maybank Kim Eng is remaining “positive” on the Singapore REIT space as it believes sector valuations will remain supported by recovering distributions per unit (DPUs), especially for hospitality; increased traction of capital recycling initiatives and acquisition momentum; and a backdrop of a slower rate hike cycle.

3 defensive plays to tide investors over a volatile 2019: RHB

SINGAPORE (Jan 23): RHB Research has an “overweight” rating on banks for the sector’s strong growth and high yields; the consumer and industrial space as defensive sector picks; as well as REITs that are beneficiaries of improving economic activity, and/or with strong balance sheets.

5 defensive S-REITs to consider as hospitality industry outlook clouds

SINGAPORE (July 31): OCBC Investment Research is maintaining “neutral” on Singapore REITs (S-REITs) with a weaker outlook for the hospitality sub-sector, which has prompted a pushback in expectations for a pick-up in Singapore hotel RevPAR this year to early 2019.

In a Tuesday report, lead analyst Andy Wong says he finds hospitality REITs less attractive than before in terms of valuations, given the relatively muted DPU growth outlook for 2H18 as well as the rising interest rate environment.

Internalisation not the answer for S-REITs

SINGAPORE (Apr 2): The move to have internalised managers for real estate investment trusts and business trusts just has not caught on in Singapore. Investors, analysts and investment bankers point to the one internalisation that took place in 2016 as a reason that investors are not keen. The process provides lessons for investors, REIT managers and regulators alike.

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Focus on Singapore REIT's growth, says Deutsche Bank

SINGAPORE (Feb 14): Singapore REITs (S-REITs) have consolidated following a strengthening interest rate outlook over the past week, returning YTD gains, according to Deutsche Bank Markets Research.

In a Tuesday report, analyst Joy Wang says, “While headwinds from rising rates remain, we highlight the lack of correlation between 10-year rates and REIT performance over the past 2 decades. We believe that the recent pullback offers a good entry point for REITs with a strong growth outlook.”

Six blue-chip property stocks to ‘buy’ on improving sentiment

SINGAPORE (July 10): Maybank Kim Eng is maintaining its “positive” stance on Singapore’s property sector on improving market sentiment and robust bids in recent government land tenders.

In a Monday report, analysts Derrick Heng and Chua Su Tye note how strong capital flows and their implications to Singapore’s property market were a recurring theme and the main takeaway of their recent participation in the Real Estate Developer’s Association of Singapore’s (REDAS) property market update seminar, which took place last Friday.

Multiple catalysts in the works for OUE Hospitality Trust

SINGAPORE (May 5): OCBC Investment Research and DBS Vickers Securities are both reiterating their “buy” calls on OUE Hospitality Trust (OUE HT) with a fair value and price target estimate of 75 cents and 76 cents respectively.

This comes after the trust’s manager on Thursday reported a 18.2% growth in 1Q distribution per unit (DPU) to 1.3 cents.

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