Retail REITs are an interesting bunch. Besides analyzing the REIT's financial statements, unitholders and potential unitholders could also consider heading down to the properties to observe first-hand how the REIT is faring.
Is the mall thriving? How is the traffic like? How is the ambiance?
For the Singaporean investor interested in some of the retail S-REITs, getting answers to such questions is fairly straightforward:
Vested in CapitaLand Mall Trust? You could visit Plaza Singapura (and many others).
What about Frasers Centrepoint Trust? Head down to Causeway Point (and many others).
Starhill Global? Go to Wisma Atria and Ngee Ann City lah!
SPH REIT? Your pick. Either Paragon or Clementi Mall (or both, if you are that keen).
Things, however, are not that straightforward if you are considering retail REITs whose properties are situated on foreign grounds. Though you may have access to their financial statements and annual reports, one glaring ......