Tomorrow, SPH REIT will kick off the June quarter financial reporting season for the 36 constituents of the SGX S-REIT Index, reporting its 3Q fiscal year 2017 results. ESR REIT and Soilbuild Business Space REIT will report their 2Q fiscal year 2017 results later this week.
The SGX S-REIT Index generated a total return of 16.2% in the year-to-date, outperforming the S&P Asia Pacific REIT Index and MSCI World REIT Index, which generated total returns of -2.7 % and -2.9% respectively in SGD terms.
The 36 trusts averaged a year-to-date return of 16.9%, while maintaining an average distribution yield of 6.4%. Of these 36 trusts, the three best performers in the year-to-date were Croesus Retail Trust (+47.3%), CDL Hospitality Trusts (+27.9%) and Lippo Malls Indonesia Retail Trust (+25.6%).
Tomorrow, SPH REIT will kick off the June quarter financial reporting season for the 36 constituents of the SGX S-REIT Index, reporting its 3Q fiscal year 2017 results. ESR REIT and Soilbuild Business Space REIT will report their 2Q fiscal year 2017 results later this week.
The SGX S-REIT Index has 36 constituents, comprising 27 REITs, six Stapled Trusts and three Property Trusts, with a combined market capitalisation of S$75.6 billion. Saizen REIT was suspended on 15 May 2017 and has been removed from the index. It was still a part of the index when the March Quarter’s earning schedule was published, which can be found
here.
REITs raise capital to purchase primarily real estate assets, usually with a view to generate income for unit holders of the fund. They allow individual investors to access real property assets and share the benefits and risks of owning a portfolio of properties, which typically distribute income at regular intervals.
The table below details the confirmed and estimated results release dates for the constituents of the SGX S-REIT Index. Click on each stock to visit its profile page on SGX StockFacts.
Source: Bloomberg & SGX (data as of 10 July 2017)
The SGX S-REIT Index generated a total return of 16.2% in the year-to-date, outperforming the S&P Asia Pacific REIT Index and MSCI World REIT Index, which generated total returns of -2.7 % and -2.9% respectively in SGD terms.
The 36 trusts averaged a year-to-date return of 16.9%, while maintaining an average distribution yield of 6.4%. Of these 36 trusts, the five best performers in the year-to-date were Croesus Retail Trust (+47.3%), CDL Hospitality Trusts (+27.9%), Lippo Malls Indonesia Retail Trust (+25.6%), Sabana Shari’ah Compliant Industrial REIT (+24.9%) and Viva Industrial Trust (+24.3%).
In terms of valuations, these trusts averaged Price-to-Earnings (P/E) and Price-to-Book (P/B) ratios of 30.1x and 1.1x respectively, and a Return on Equity (ROE) of 6.3%. The average gearing ratio for these trusts stands at 34.6%.
The table below details the constituents of the SGX S-REIT Index, sorted by market capitalisation. Click on each stock to visit its profile page on SGX StockFacts.
| Name |
SGX Code |
Market Cap S$M |
Total Return YTD % |
ROE % |
Dvd Ind Yld % |
P/E |
P/B |
Gearing Ratio % |
| Ascendas REIT |
A17U |
7,503 |
18.2 |
7.4 |
6.8 |
17.5 |
1.3 |
33.4 |
| CapitaLand Mall Trust |
C38U |
6,984 |
7.5 |
6.9 |
5.7 |
15.1 |
1.0 |
32.0 |
| CapitaLand Commercial Trust |
C61U |
5,141 |
19.1 |
5.1 |
5.3 |
19.1 |
1.0 |
33.0 |
| Suntec REIT |
T82U |
4,949 |
16.6 |
4.8 |
5.4 |
18.2 |
0.9 |
36.4 |
| Mapletree Commercial Trust |
N2IU |
4,516 |
15.9 |
10.3 |
5.5 |
12.3 |
1.1 |
36.4 |
| Keppel REIT |
K71U |
3,839 |
16.0 |
4.9 |
5.3 |
18.6 |
0.8 |
32.9 |
| Mapletree Industrial Trust |
ME8U |
3,335 |
16.2 |
10.8 |
6.2 |
12.3 |
1.3 |
29.1 |
| Mapletree Greater China Commercial Trust |
RW0U |
3,015 |
17.2 |
10.6 |
6.8 |
8.0 |
0.8 |
39.2 |
| Mapletree Logistics Trust |
M44U |
2,976 |
20.7 |
7.2 |
6.3 |
16.1 |
1.1 |
38.4 |
| SPH REIT |
SK6U |
2,542 |
7.7 |
5.5 |
5.5 |
19.3 |
1.1 |
25.6 |
| Ascott Residence Trust |
A68U |
2,488 |
11.2 |
6.1 |
7.1 |
17.2 |
0.9 |
40.2 |
| Frasers Centrepoint Trust |
J69U |
1,908 |
12.1 |
7.1 |
5.7 |
15.1 |
1.1 |
29.4 |
| Starhill Global REIT |
P40U |
1,701 |
8.9 |
8.8 |
6.5 |
10.2 |
0.8 |
35.2 |
| CDL Hospitality Trusts |
J85 |
1,642 |
27.9 |
3.0 |
6.3 |
35.4 |
1.1 |
36.7 |
| Frasers Logistics & Industrial Trust |
BUOU |
1,585 |
19.5 |
N/A |
N/A |
N/A |
1.1 |
27.8 |
| Parkway Life REIT |
C2PU |
1,573 |
13.0 |
9.0 |
4.8 |
16.9 |
1.5 |
37.5 |
| CapitaLand Retail China Trust |
AU8U |
1,449 |
23.0 |
7.6 |
6.2 |
13.1 |
1.0 |
35.9 |
| Keppel DC REIT |
AJBU |
1,448 |
11.0 |
6.4 |
4.8 |
21.0 |
1.4 |
28.9 |
| OUE Hospitality Trust |
SK7 |
1,352 |
18.0 |
1.5 |
6.4 |
68.2 |
1.0 |
37.9 |
| Frasers Hospitality Trust |
ACV |
1,338 |
15.6 |
4.8 |
6.7 |
19.5 |
0.9 |
33.2 |
| Lippo Malls Indonesia Retail Trust |
D5IU |
1,257 |
25.6 |
3.4 |
7.8 |
36.5 |
1.2 |
31.8 |
| Far East Hospitality Trust |
Q5T |
1,201 |
13.0 |
2.0 |
6.4 |
36.0 |
0.7 |
33.2 |
| Frasers Commercial Trust |
ND8U |
1,135 |
16.7 |
5.9 |
7.0 |
15.3 |
0.9 |
35.8 |
| Ascendas India Trust |
CY6U |
1,059 |
14.7 |
20.0 |
5.0 |
7.6 |
1.4 |
28.1 |
| First REIT |
AW9U |
1,033 |
8.6 |
5.3 |
6.4 |
23.5 |
1.3 |
30.8 |
| AIMS AMP Capital Industrial REIT |
O5RU |
942 |
17.2 |
1.5 |
7.5 |
68.9 |
1.1 |
36.0 |
| Ascendas Hospitality Trust |
Q1P |
924 |
20.9 |
4.9 |
6.9 |
18.9 |
0.9 |
32.2 |
| Manulife US REIT |
BTOU |
923 |
14.4 |
10.0 |
2.3 |
11.1 |
1.1 |
33.6 |
| Croesus Retail Trust |
S6NU |
911 |
47.3 |
14.3 |
5.7 |
9.3 |
1.3 |
46.2 |
| Viva Industrial Trust |
T8B |
876 |
24.3 |
6.9 |
7.9 |
16.2 |
1.1 |
38.8 |
| Cache Logistics Trust |
K2LU |
839 |
19.9 |
-3.4 |
8.1 |
N/A |
1.2 |
42.9 |
| ESR REIT |
J91U |
776 |
14.1 |
0.7 |
6.8 |
130.5 |
0.9 |
37.6 |
| Soilbuild Business Space REIT |
SV3U |
765 |
19.5 |
0.1 |
8.3 |
229.3 |
1.0 |
37.0 |
| RHT Health Trust |
RF1U |
723 |
0.4 |
18.9 |
6.7 |
5.7 |
1.0 |
26.5 |
| Sabana Shari'ah Compliant Industrial REIT |
M1GU |
479 |
24.9 |
-9.6 |
9.2 |
N/A |
0.8 |
35.8 |
| IREIT Global |
UD1U |
474 |
10.9 |
12.1 |
8.1 |
9.7 |
1.1 |
41.9 |
| Average |
|
|
16.9 |
6.3 |
6.4 |
30.1 |
1.1 |
34.6 |
Source: Bloomberg & SGX (data as of 10 July 2017)
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