SREITs Fundamental Review @ 27 April 2025

Overview

* CapitaLand India Trust is a Business Trust

Key Statistics

* SREITs in foreign currencies are converted to SGD for Market Cap 

** Dividend yields are based on REIT Major Sector

Related Parties' Shareholdings

Lease Profile

* Freehold or land lease tenure with more than 99 years is considered as 99 years in the Weighted Average Land Lease Expiry calculation.

Debt Profile

Diversification Profile

Key Financial Metrics

Distribution Components

52 Weeks Range, Dividend Yield & P/NAV

Below is the list of REITs with 6 out of 8 (or 4 out of 6 for newly listed) being +2SD/+1SD Dividend Yield and -2SD/-1SD P/NAV over the past 1 year, 3 years, 5 years or 10 years:

1. CapitaLand India Trust
2. CDL Hospitality Trusts
3. Digital Core REIT, USD
4. ESR-REIT
5. Far East Hospitality Trust
6. Frasers Logistics & Commercial Trust
7. IREIT Global
8. Mapletree Industrial Trust
9. Mapletree Logistics Trust
10. Sasseur REIT

* MCFK counters are bolded

Wrap-Up

S-REIT prices experienced a pullback in early April, following news of reciprocal tariffs. While prices have gradually rebounded since then, they remain lower compared to one month ago. As of now, the median Price-to-NAV ratio stands at 0.71, with seven REITs trading above book value. On the yield front, the median dividend yield has risen to 7.13%, and two REITs are offering yields above 10%. However, challenges remain across the sector. Four REITs have suspended distributions, while one REIT continues to distribute only around 10% of its available income

Looking ahead, market attention turns to the upcoming FOMC meeting on 6–7 May, where the Fed is widely expected to maintain current interest rates, as projected by CME FedWatch.

For more information, check out:    

SREITs Dashboard - Detailed information on individual Singapore REIT

SREITs Data - Overview and details of Singapore REIT

REIT Review - List of previous REIT review posts

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*Disclaimer: The information presented on this blog is for educational and informational purposes only. The materials, including research and opinions, are based solely on my findings and should not be considered professional financial advice or a definitive statement of fact. I cannot guarantee the accuracy, completeness, or reliability of the information provided. I shall not be held liable for any errors, omissions, or losses that may occur as a result of using the information presented on this blog. It should be noted that the information presented on this blog does not constitute a buy, sell, or hold recommendation for any security. It is crucial to conduct your own thorough research and due diligence before making any investment decisions.