China Retail Focused REITs/BizTrust Comparison @ 2 March 2021

Update: 4 May 2021

Distribution from income support for BHG REIT should be 4.8% instead of 14.7% as mentioned below.

Let's see how the 4 China Retail Focused REITs/BizTrust fair against each other after the latest result announcement. For CLCT, the acquisition of 3 of the business parks is completed while the other 2 are in progress.  

Image by Mike Mike from Pixabay

* 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 - Sasseur

2) Related Parties Shareholding - Sasseur

3) Lease Profile - DRT

4) Debt Profile - CLCT

5) Diversification - CLCT

6) Key Financial Metrics - Sasseur

7) Growth Trend - Sasseur

8) Overall - Sasseur, followed by CLCT

For relative valuation, let's use the reversion to mean method to gauge.

At the current price level, it is a tie between BHG, DRT and Sasseur in terms of reversion to mean valuation.

Above is just a quick comparison, you could refer to more detail on the individual analysis below:

- CapitaLand China Trust (previously CapitaLand Retail China Trust) Review @ 14 February 2021

For more information, you could refer to:

SREITs Dashboard - Detailed information on individual Singapore REIT

SREITs Data - Overview of Singapore REIT

REIT Analysis - List of previous REIT analysis posts

REIT Investing Community - Facebook Group where members share and discuss REIT topic

*Disclaimer: Materials in this blog are based on my research and opinion which I don't guarantee accuracy, completeness, and reliability. It should not be taken as financial advice or a statement of fact. I shall not be held liable for errors, omissions as well as loss, or damage as a result of the use of the material in this blog. Under no circumstances does the information presented on this blog represent a buy, sell, or hold recommendation on any security, please always do your own due diligence before any decision is made.