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Singapore Office Focused REITs Comparison @ 10 December 2024

$Suntec Reit(T82U.SI)$ $OUEREIT(TS0U.SI)$ $Mapletree PanAsia Com Tr(N2IU.SI)$ $KEPPEL REIT(K71U.SI)$ Below is a comparison using the latest data from comparison tables on SREITs Data page. The most favorable figures are marked in blue and given a +1 score, while the least favorable are in red with a -1 score. The highest score in each category determines the winner. Note that this is a simple comparison without weightage assigned to each figure.  Unweighted Ranking Fundamental Overview, Related Parties Shareholding & Lease Profile: Debt Prof
Singapore Office Focused REITs Comparison @ 10 December 2024
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12-16 09:14

Logistics Focused REITs Comparison @ 8 December 2024

$Mapletree Log Tr(M44U.SI)$ $Daiwa Hse Log Tr(DHLU.SI)$ $ESR-REIT(J91U.SI)$ $AIMS APAC Reit(O5RU.SI)$ $EC World Reit(BWCU.SI)$ Below is a comparison using the latest data from comparison tables on SREITs Data page. The most favorable figures are marked in blue and given a +1 score, while the least favorable are in red with a -1 score. The highest score in each category determines the winner. Note that this is a simple comparison without weightage assigned to each figure.  Unweighted  Ranking Fun
Logistics Focused REITs Comparison @ 8 December 2024

Industrial REITs Comparison - Part 2 @ 5 December 2024

$AIMS APAC Reit(O5RU.SI)$ $Cromwell Reit EUR(CWBU.SI)$ $Sabana Reit(M1GU.SI)$ $DigiCore Reit USD(DCRU.SI)$ $ESR-REIT(J91U.SI)$ Below is a comparison using the latest data from comparison tables on SREITs Data page. The most favorable figures are marked in blue and given a +1 score, while the least favorable are in red with a -1 score. The highest score in each category determines the winner. Note that this is a simple comparison without weightage assigned to each figure.  Unweighted Ranking Fundament
Industrial REITs Comparison - Part 2 @ 5 December 2024

Industrial REITs Comparison - Part 1 @ 3 December 2024

$Mapletree Ind Tr(ME8U.SI)$ $Frasers L&C Tr(BUOU.SI)$ $CapLand Ascendas REIT(A17U.SI)$ $Keppel DC Reit(AJBU.SI)$ Below is a comparison using the latest data from comparison tables on SREITs Data page. The most favorable figures are marked in blue and given a +1 score, while the least favorable are in red with a -1 score. The highest score in each category determines the winner. Note that this is a simple comparison without weightage assigned to each figure.  Unweighted Ranking Fundamental Overview, Related Parties Shareholding & Lease Pr
Industrial REITs Comparison - Part 1 @ 3 December 2024

Data Centre Focused REITs Comparison @ 1 December 2024

$Mapletree Ind Tr(ME8U.SI)$ $Keppel DC Reit(AJBU.SI)$ $DigiCore Reit USD(DCRU.SI)$ Below is a comparison using the latest data from comparison tables on SREITs Data page. The most favorable figures are marked in blue and given a +1 score, while the least favorable are in red with a -1 score. The highest score in each category determines the winner. Note that this is a simple comparison without weightage assigned to each figure.  Unweighted Ranking Fundamental Overview, Related Parties Shareholding & Lease Profile: Debt Profile, Diversification Profile & Key Financial Metrics: D
Data Centre Focused REITs Comparison @ 1 December 2024

Hospitality Trusts Comparison @ 28 November 2024

$Acro HTrust USD(XZL.SI)$ $Frasers HTrust(ACV.SI)$ $CapLand Ascott T(HMN.SI)$ $CDL HTrust(J85.SI)$ $Far East HTrust(Q5T.SI)$ Below is a comparison using the latest data from comparison tables on SREITs Data page. The most favorable figures are marked in blue and given a +1 score, while the least favorable are in red with a -1 score. The highest score in each category determines the winner. Note that this is a simple comparison without weightage assigned to each figure.  Unweighted Ranking Fundamental Overview,
Hospitality Trusts Comparison @ 28 November 2024

European Office Focused REITs Comparison @ 26 November 2024

$Cromwell Reit SGD(CWCU.SI)$ $IREIT Global SGD(UD1U.SI)$ $EliteComREIT GBP(MXNU.SI)$ $Cromwell Reit EUR(CWBU.SI)$ $IREIT Global EUR(8U7U.SI)$ Below is a comparison using the latest data from comparison tables on SREITs Data page. The most favorable figures are marked in blue and given a +1 score, while the least favorable are in red with a -1 score. The highest score in each category determines the winner. Note that this is a simple comparison without weightage assigned to each figure.  Unweighted Ra
European Office Focused REITs Comparison @ 26 November 2024

China Retail Focused REITs Comparison @ 21 November 2024

$BHG Retail Reit(BMGU.SI)$ $CapLand China T(AU8U.SI)$ $Sasseur Reit(CRPU.SI)$ Below is a comparison using the latest data from comparison tables on SREITs Data page. The most favorable figures are marked in blue and given a +1 score, while the least favorable are in red with a -1 score. The highest score in each category determines the winner. Note that this is a simple comparison without weightage assigned to each figure.  Unweighted Ranking Fundamental Overview, Related Parties Shareholding & Lease Profile: Debt Profile, Diversification Profile & Key Financial Metrics: D
China Retail Focused REITs Comparison @ 21 November 2024

Cromwell European REIT's 3Q FY24 Result Review

$Cromwell Reit SGD(CWCU.SI)$ $Cromwell Reit EUR(CWBU.SI)$ Basic Profile & Key Statistics Key Indicators Performance Highlight Despite similar gross revenue, NPI has improved YoY. However, distributable income has declined mainly due to higher interest costs. Rental Reversion The rental reversion for 3Q 2024 stands at 2.3%. Related Parties Shareholding REIT Sponsor's Shareholding: Moderate REIT Manager's Shareholding: Less Favorable Directors of REIT Manager's Shareholding: Less Favorable Lease Profile Occupancy: Moderate Income Received in SGD/Major Currencies: Less Favorable WALE: Less Favorable Highest Lease Expiry in 4 Years: Favorable Weighted Average Land Lease Expiry: Moderate Debt Profile
Cromwell European REIT's 3Q FY24 Result Review

Frasers Logistics & Commercial Trust's 2H FY24 Result Review

$Frasers L&C Tr(BUOU.SI)$ Basic Profile & Key Statistics Key Indicators Performance Highlight Year over year, gross revenue and adjusted NPI have seen improvement, mainly driven by contributions from Ellesmere Port, which achieved practical completion in December 2023 and from the acquisition of German logistics properties in March 2024. However, distributable income to unitholders and DPU have declined YoY despite a higher distribution from divestment gain mainly due to higher finance costs and 100% of management fees being paid in cash. Rental Reversion FLCT achieved strong portfolio rent reversion for the FY24, with 12.8% for incoming vs outgoing and 23.6% for average vs average. Acquisition On 5th November, FLCT completed
Frasers Logistics & Commercial Trust's 2H FY24 Result Review

AIMS APAC REIT's 1H FY25 Result Review

$AIMS APAC Reit(O5RU.SI)$ Basic Profile & Key Statistics Key Indicators Performance Highlight Gross revenue, NPI and distributions to unitholders improved YoY, driven by rental growth across portfolios and income from the sale of electricity and renewable energy certificates generated from the rooftop solar photovoltaic systems at 6 Singapore properties. On the other hand, DPU remains similar due to the enlarged unitholder base from the mid-2023 equity fundraising. Rental Reversion Rental reversion for 1Q and 2Q is 12.8% and 23.9% respectively. Asset Enhancement Initiatives There are 2 ongoing AEIs, which are targeted to be completed by 1Q FY 2026. There are also ongoing upgrades related to ESG, including toilet upgrading, installation
AIMS APAC REIT's 1H FY25 Result Review

First REIT's 3Q FY24 Result Review

$First Reit(AW9U.SI)$ Basic Profile & Key Statistics Key Indicators Performance Highlight Gross revenue, NPI, distributable amount, and DPU declined YoY, primarily due to the depreciation of the Indonesian Rupiah and Japanese Yen against SGD. Related Parties Shareholding REIT Sponsor's Shareholding: Favorable REIT Manager's Shareholding: Favorable Directors of REIT Manager's Shareholding: Favorable Lease Profile Occupancy: Favorable Income Received in SGD/Major Currencies: Less Favorable WALE: Less Favorable Highest Lease Expiry in 4 Years: Favorable Weighted Average Land Lease Expiry: Moderate Debt Profile Gearing Ratio: Moderate Cost of Debt: Less Favorable Fixed Rate Debt %: Favorable Unsecured Debt %: Less Favorable WADM: Moderate 
First REIT's 3Q FY24 Result Review

Mapletree Industrial Trust's 2Q FY24/25 Result Review

$Mapletree Ind Tr(ME8U.SI)$ Basic Profile & Key Statistics Key Indicators Performance Highlight Gross revenue, NPI, distribution to unitholders, and DPU have improved YoY mainly due to contributions from the Osaka Data Centre acquired in September 2023 and better performance across the portfolio. Distribution declared by joint venture has declined significantly YoY due to higher borrowing costs. All in all, the amount available for distribution and DPU have improved slightly YoY amid the similar distribution from divestment gain. Rental Reversion The weighted average rental reversion is at 10.7%.  Acquisition On 29 October, MIT completed the acquisition of a second property in Japan.  Asset Enhancement Initiative Year to date, sol
Mapletree Industrial Trust's 2Q FY24/25 Result Review

Digital Core REIT's 3QY24 Result Review

$DigiCore Reit USD(DCRU.SI)$ Basic Profile & Key Statistics Key Indicators Performance Highlight Gross revenue declined slightly YoY. NPI and income available for distribution experienced a significant decline due to the absence of one-off income in 3Q2023, along with higher property expenses and financing costs. Rental Reversion Rental reversion for 3Q stands at 10.5%. Acquisition On 6 September 2024, DCR exercised its option to acquire additional interest in the Frankfurt Facility. The actual amount of interest to be acquired will be determined and announced at a later date.  Related Parties Shareholding REIT Sponsor's Shareholding: Favorable REIT Manager's Shareholding: Favorable Directors of REIT Manager's Shareholding: Less F
Digital Core REIT's 3QY24 Result Review

Mapletree Pan Asia Commercial Trust's 2Q FY24/25 Result Review

$Mapletree PanAsia Com Tr(N2IU.SI)$ Basic Profile & Key Statistics Key Indicators Performance Highlight Gross revenue, NPI, the amount available for distribution and DPU declined YoY primarily due to reduced income from the divestment of Mapletree Anson in July, higher property expenses, currency impacts from a stronger SGD against JPY and RMB, and absence of one-off property tax refund. Rental Reversion Portfolio rental reversion is 1.2%, with only Singapore properties seeing positive rental reversions. All other regions experienced negative reversion. Shopper Traffic & Tenant Sales At VivoCity, both shopper traffic and tenant sales have declined YoY due to temporary disruptions from the AEI. At Festival Walk, tenant sales decreas
Mapletree Pan Asia Commercial Trust's 2Q FY24/25 Result Review

Frasers Centrepoint Trust's 2H FY24 Result Review

$Frasers Cpt Tr(J69U.SI)$ Basic Profile & Key Statistics Key Indicators Performance Highlight Despite a slight YoY decline in gross revenue, NPI remained stable due to lower property expenses. Distribution from investments increased following the acquisition of an additional interest in NEX, leading to a YoY increase in distribution to unitholders. However, due to an enlarged unitholder base, DPU remained relatively unchanged. Rental Reversion Retail portfolio rental reversion for FY24 stands at 7.7%, with Central Plaza reporting a higher rental reversion of 9.3%. Shopper Traffic & Tenant Sales Both shopper traffic and tenant sales have improved YoY. While shopper traffic is still below pre-COVID levels, tenant sales have surpassed pre-
Frasers Centrepoint Trust's 2H FY24 Result Review

Keppel Pacific Oak US REIT's 3QY24 Result Review

$KepPacOakReitUSD(CMOU.SI)$ Basic Profile & Key Statistics Key Indicators Performance Highlight Gross revenue saw a slight YoY decline, while NPI and income available for distribution fell more significantly. This was due to the absence of one-off income seen in 3Q2023, higher property expenses, and increased financing costs. Rental Reversion Rental reversion for 3Q stands at -3.5%, with a cumulative -1.2% for the first nine months. Related Parties Shareholding Directors of the REIT manager hold a relatively high share proportion, while the sponsor’s holding remains low. Lease Profile The lease expiry is well spread, and all properties are freehold. However, committed occupancy is relatively low. Debt Profile The debt profile falls within t
Keppel Pacific Oak US REIT's 3QY24 Result Review

Mapletree Logistics Trust's 2Q FY24/25 Result Review

$Mapletree Log Tr(M44U.SI)$ Basic Profile & Key Statistics Key Indicators Performance Highlight MLT's gross revenue and NPI experienced a slight decline YoY, primarily due to lower contributions from its China properties, divested assets, and the weakening of foreign currencies against the SGD. The amount distributable to unitholders and DPU saw a more significant drop, impacted by higher borrowing costs, reduced distributions from divestment gains, and increased tax expenses. Rental Reversion In 2Q FY24/25, portfolio rental reversion stood at -0.6%, with only the China properties experiencing negative reversion. Divestment In September, MLT divested two properties, with four more pending completion. Redevelopment The redevelopment of 51 Be
Mapletree Logistics Trust's 2Q FY24/25 Result Review

Parkway Life REIT's 3Q FY24 Result Review

$ParkwayLife Reit(C2PU.SI)$ Basic Profile & Key Statistics Key Indicators Performance Highlight Gross revenue and NPI declined slightly YoY mainly due to the depreciation of the Japanese Yen. Despite this, the amount available for distribution and DPU have improved YoY due to the foreign exchange gains from the settlement of the forward contracts. Acquisition In August, PLIFE acquired a nursing home in Osaka, expanding its property portfolio. On 22 Oct, PLIFE announced the acquisition of 11 nursing homes in France, funded through a private placement. On a pro forma basis, this acquisition provides a boost to DPU and NAV per unit. Additionally, the gearing ratio is reduced as well. Related Parties Shareholding The REIT sponsor and direc
Parkway Life REIT's 3Q FY24 Result Review

Keppel DC REIT's 3QFY24 Result Review

$Keppel DC Reit(AJBU.SI)$ Basic Profile & Key Statistics Key Indicators Performance Highlight Gross revenue improved YoY due to the strong performance of its existing portfolio and the contribution from the newly acquired Tokyo DC 1. However, NPI remained similar YoY due to the loss allowance for Guangdong DCs. Distributable income and DPU have remained relatively stable, thanks to higher finance income from Australis DC note and the partial distribution of the DXC settlement sum, which offset the impact of the loss allowances and higher finance costs. Acquisition On 31 July, KDC completed the acquisition of the Japan Data Centre in Tokyo, expanding its property portfolio. Related Parties Shareholding The shareholdings for the sponsor and d
Keppel DC REIT's 3QFY24 Result Review

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