Singapore REITs Could Benefit Once Inflation Gradually Eases -- Market Talk

Dow Jones2023-01-11

0516 GMT - Singapore-listed real estate investment trusts could benefit as inflation gradually eases and as the U.S. Fed begins to slow its pace of monetary tightening, says UOB Kay Hian analyst Jonathan Koh in a note. As most REITs have some level of debt, high interest rates are likely to weigh on earnings. In the sector, the analyst prefers REITs with strong balance sheets such as Mapletree Industrial Trust, Frasers Logistics & Commercial Trust and CapitaLand Ascott Trust. He expects the Fed funds rate to peak at 5.0% by mid-2023 and remain high in 2H, before declining next year. Units of Mapletree Industrial trust are up 0.9%, Frasers Logistics & Commercial Trust rises 2.6% and CapitaLand Ascott Trust units are unchanged at S$1.04. (yiwei.wong@wsj.com)

(END) Dow Jones Newswires

January 11, 2023 00:16 ET (05:16 GMT)

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