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In 2021, there are 2 REITs and 2 REIT ETFs listing, all in 4Q 2021. The 2 REITs are Daiwa Logistics Trusts and Digital Core REIT while the REITs ETF are CSOP iEdge S-REIT Leaders Index ETF and UOB APAC Green REIT ETF. At this moment, I have not added these 4 in SREITs Dashboard; I would do so after they release their first financial result or business update.
Now, let's check out how Singapore REITs performed in the year 2021, including BizTrusts - Ascendas India Trust & Dasin Retail Trust. The return includes both capital gain/loss and dividend (include advanced distribution, based on ex-date). Note that advanced distribution would affect the DPU and subsequently, dividend yield. E.g., advanced distribution in 4Q 2021 would increase the dividend in 2021; on the other hand, the 2021 dividend would be lower if there is any advanced distribution in 4Q 2020.
* Cromwell European REIT information has been adjusted for 5:1 consolidation
** 2021 open price for Daiwa House Logistics Trust and Digital Core REIT are IPO offer prices.
If you prefer a detailed table version, you could refer below:
On average, the dividend is at 5.93% and capital gain is at 5.3%, total to 11.23%. The average return is decent, but not fantastic if compared to stocks from other sectors, U.S. stocks or some other asset classes. However, it provides peace of mind to people who prefer lower volatility and have lesser intention or time to monitor the market closely.
Speaking of REITs performance, how can we not check out for MAFCK? Let's look at the table below:
*PRIME US REIT is included due to the 30% interest in REIT manager by Keppel Capital Two Pte. Ltd., a wholly-owned subsidiary of Keppel Capital Management Pte Ltd and in turn, wholly-owned by Keppel Capital Holdings Pte. Ltd. which is the asset management arm of Keppel Corporation Limited.
On average, the dividend is at 5.31% with capital loss at -1.37%, total to 3.64%. Besides FLCT, KORE, MNACT and PRIME which provided decent double-digit returns, the rest seems sluggish, with CLCT, FHT and KDC return lower than -5%. If not due to the trading halt till 31 Dec, the return of MNACT should be higher as the consideration unit amount is more than the share price for the merger.
Now, to align with the blog title, let's check out the top 10 REITs with the best returns:
| No. | Name | Dividend, % | Capital Gain, % | Total Return, % |
|---|---|---|---|---|
| 1 | ARA LOGOS Logistics Trust | 7.93% | 51.26% | 59.19% |
| 2 | First REIT | 11.87% | 29.79% | 41.66% |
| 3 | Starhill Global REIT | 7.90% | 31.00% | 38.90% |
| 4 | Sabana Industrial REIT | 10.62% | 25.35% | 35.97% |
| 5 | Parkway Life REIT | 3.62% | 31.88% | 35.50% |
| 6 | Digital Core REIT | 0.00% | 31.82% | 31.82% |
| 7 | ESR-REIT | 7.86% | 21.52% | 29.38% |
| 8 | Lendlease Global Commercial REIT | 6.37% | 21.77% | 28.14% |
| 9 | Keppel Pacific Oak US REIT | 10.04% | 15.94% | 25.99% |
| 10 | SPH REIT | 6.43% | 19.05% | 25.48% |
Next, how about the top 10 REITs with the lowest returns, though this might not interest most people:
| No. | Name | Dividend, % | Capital Loss, % | Total Return, % |
|---|---|---|---|---|
| 1 | Dasin Retail Trust | 6.33% | -52.56% | -46.23% |
| 2 | CapitaLand China Trust | 5.40% | -14.39% | -8.99% |
| 3 | Frasers Hospitality Trust | 1.89% | -10.58% | -8.69% |
| 4 | Keppel DC REIT | 3.95% | -12.41% | -8.46% |
| 5 | Lippo Malls Indonesia Retail Trust | 4.84% | -12.90% | -8.06% |
| 6 | CDL Hospitality Trusts | 3.67% | -7.87% | -4.20% |
| 7 | Manulife US REIT | 7.10% | -10.07% | -2.97% |
| 8 | Frasers Centrepoint Trust | 4.89% | -6.48% | -1.59% |
| 9 | Mapletree Commercial Trust | 4.56% | -6.10% | -1.54% |
| 10 | Mapletree Industrial Trust | 4.65% | -5.90% | -1.25% |
In summary, the stats of the 2021 total return is as below:
| Total Return, % | Qty |
|---|---|
| 30% and above | 6 |
| 20% to 30% | 7 |
| 10% to 20% | 8 |
| 0% to 10% | 8 |
| -5% to 0% | 8 |
| -5% and below | 5 |
On the winning side, there are 21 counters that provided more than 10% returns with 6 counters more than 30% return and 7 counters between 20% to 30% return. Those that returned more than 20% mainly come from small to mid market cap counters, with only 2 being MACFK counters. Sad to see, there are 13 counters that provided negative returns, with 8 of them being MACFK counters.
Side note, REIT-TIREMENT has turned 4 now in 2022, I can still remember the feeling of publishing my first post on 1st Jan 2019. As mentioned in The 100th Blog Post, I've always intended to make my blog a one-stop blog for readers that are interested in Singapore REITs. I would like to take this opportunity to thank all the readers, this blog is here because of all of you. If you find my blog useful, please bookmark it and help to share it. Finally, I wish everyone to have a good year in 2022.
You could also refer below for more information:
SREITs Dashboard - Detailed information on individual Singapore REIT
SREITs Data - Overview and Detail of Singapore REIT
REIT Analysis - List of previous REIT analysis posts
Singapore REITs Post Telegram Channel - Join to receive posts for Singapore REITs
REIT-TIREMENT Patreon - Support my work and get exclusive contents
REIT-TIREMENT Facebook Page - Support by liking my Facebook Page
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 and 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.
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