Singapore is well-known for being a REIT hub.
Income-seeking investors are spoiled for choice as the local bourse boasts a wide variety of REITs from different property sub-classes such as retail, industrial, commercial, and healthcare.
However, of late, the REIT sector has come under pressure from a combination of high inflation and surging interest rates.
As a result, the unit prices of several REITs have plumbed their 52-week lows.
We comb through the REIT universe to highlight four REITs that recently touched a year low to assess if they can pull off a business and unit price recovery this year.
Elite Commercial REIT (SGX: MXNU)
Elite Commercial REIT is a UK-focused REIT with a portfolio of 155 predominantly freehold commercial properties with a value of around £466.2 million as of 31 December 2022.
The REIT recently touched a 52-week low of £0.40 and is down nearly 37% in the past year.
For 2022, Elite reported a 6.7% year on year rise in revenue to £37.1 million....