Previously I’ve shared about China Retail Focused REITs/BizTrust Comparison, this time, let’s compare Singapore retail focused REITs. MCT and Suntec are excluded as both are focus on the office sector. For the previous comparison, please refer here.
* Growth Trend for DPU is not adjusted for any equity fundraising.
Below is the summary for REIT with more favorable points by categories: 1) Basic Profile & Key Statistics – CICT 2) Related Parties Shareholding – FCT, LREIT & SPH 3) Lease Profile – SPH 4) Debt Profile – CICT & LREIT 5) Diversification – CICT, SPH & SGREIT 6) Key Financial Metrics – LREIT 7) Growth Trend – CICT 8) Overall – CICT, followed by a tie between LREIT & SPH
How about relative valuation? For relative valuation, SGREIT is more favorable.
Above is just a quick comparison, you could refer to more detail