Industrial REITs Comparison - Part 1 @ 4 March 2021

Update: 4 May 2021

Cost of debt for AREIT should be 2.7% instead of 3.5% as mentioned below.

Let's see how the 4 Industrial REITs with S$ 4 Billion market cap and above fair against each other after the latest result announcement. Most of the industrial REITs having logistics and/or business parks in their portfolio as well.

Image by Michal Jarmoluk 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 - FLCT

2) Related Parties Shareholding -  MIT

3) Lease Profile - FLCT

4) Debt Profile - FLCT

5) Diversification - AREIT

6) Key Financial Metrics - FLCT & KDC

7) Growth Trend - KDC

8) Overall - FLCT, followed by a tie between AREIT and KDC

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

At the current price level, AREIT is more favorable in terms of reversion to mean valuation.

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

- Ascendas REIT Review @ 16 February 2021

- Mapletree Industrial Trust Review @ 15 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-TIREMENT Patreon - Support this blog as a Patron and get SREITs Dashboard PDF or SREITs Data Excel

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.