The past week has been kind to S-REITs which registered a 10.9% increase according to the FTSE ST REIT Index vs the 5.9% increase in the STI over the same period.
While the market tends to move ahead of actual data, I believe that it also tends to be very sentiment-driven. It appears that investors took a sell-first think-later approach and are starting to find value and resilience in some of the oversold REITs. There could also have been more positive sentiment coming out of Europe regarding slowing growth in new cases and death tolls.

On the whole, REITs have gotten the reputation of being stocks with stable income-producing instruments. However, during this period we find that this may not always hold, as evidenced by SPH REIT cutting its distributions by ~80%