To any REIT investor in Singapore, Ascendas REIT needs no introduction. It is one of the pioneer REITs to list on the Singapore market all the way back in 2002. With a market cap of close to S$12.2 billion, Ascendas REIT is also the second-largest REIT on the Singapore market.
In terms of market performance, Ascendas REIT has also performed admirably well over the past 18 years, returning more than 500% returns to IPO investors, or an annualised return of around 10.6% (inclusive of dividends).
Given its standing and performance thus far in the local S-REIT market, Ascendas REIT has often been regarded as a “no-brainer” investment. However, as the saying goes, past performance is not an indicator of future performance.
Thus, I decided to do an analysis of Ascendas REIT to see how its performance has been over the past 5 years and gauge its future growth prospects. If...