SREITs Earnings Week: OUE REIT Jumps! Who Is Powering Your Portfolio?
This week’s SGX earnings season is incredibly busy, featuring: $Mapletree Log Tr(M44U.SI)$ , $OUEREIT(TS0U.SI)$ , $Mapletree Ind Tr(ME8U.SI)$ , $CapLand Ascott T(HMN.SI)$ , $Micro-Mechanics(5DD.SI)$ , $NetLink NBN Tr(CJLU.SI)$ , $StarhillGbl Reit(P40U.SI)$ , $CDL HTrust(J85.SI)$ , $Keppel DC Reit(AJBU.SI)$ , and $Mapletree PanAsia Com Tr(N2IU.SI)$.
While the data shows a mix of red and green, the most "real" metric is the profit and loss in your own account.
Mid-Week Recap of S-REITs
The Dark Horse: OUE REIT (TS0U) rises 2.7% this week
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Full-year DPU +8.3%, with a massive 10.6% jump in the second half (2H)
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A sharp 18% drop in interest expenses and the divestment of underperforming assets. This "deleveraging" play was a masterclass in financial management.
⚖️ Under Pressure: The Mapletree Duo ( $Mapletree Log Tr(M44U.SI)$ & $Mapletree Ind Tr(ME8U.SI)$)
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3Q DPU declined by 9.3% and 7.0% respectively.
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While operational occupancy remains rock-solid, they were hit hard by "forex assassins" (weakening currencies) and a sustained high-interest-rate environment.
The numbers are out, and it’s time to see how the market is really feeling. We’re inviting you to join the conversation!
How to participate
1️⃣ One-Sentence Review: Sum up your thoughts on any SGX earnings report released this week in just one sentence.
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Example: “OUE’s turnaround just saved my dividend yield for the year!”
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Example: “Mapletree Logistics is still fundamentally strong; I’m just waiting for the forex tide to turn.”
2️⃣ Show Your P/L (The Screenshot Challenge): Data is great, but results are better.
Share a screenshot of your profits or your updated holdings. Whether it’s the joy of dividends hitting your account or your strategy for holding through the volatility—let’s see your real-world performance!
Rewards
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Top Analyst Award: The 3 most insightful or professional comments will win 100 Tiger Coins.
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Lucky Investor Award: The most-liked P/L screenshot will receive 100 tiger coins!
Leave your comments to win tiger coins~
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一句话总结本周：市场不再奖励宏大叙事，只奖励真实、能落袋的现金流改善。选 S-REITs，与其盯红绿，不如问一句——这份分派，明年还能不能稳住。
仍有时间适应较低的利率，因此这将是一个容易拉动的杠杆。明智的做法是提前完成剩余的租约，锁定租约，以安抚投资者的神经（我记得其中一家的平均租期不到3年，这听起来很不稳定）。
同样令人担忧的是，他们的DPU正在下降，而相比之下，OUE正在上升。
毫无疑问，OUE成为黑马，+8.3%令人印象深刻，完全出乎意料。
第三季度DPU下降9.3%和7.0%分別地。
雖然運營入住率仍然堅如磐石，但他們受到了“外匯刺客”（貨幣疲軟）和持續高利率環境的沉重打擊。
房地產板塊收入下降約 9.7%，主要因爲部分資產表現不及去年。
投資物業上海力寶廣場（Lippo Plaza Shanghai）於 2024 年底脫售，投資物業及基金管理收入減少。未來不看好。
On the other hand, the Mapletree duo $Mapletree Ind Tr(ME8U.SI)$ $Mapletree Log Tr(M44U.SI)$ tested my patience. DPU declines at MLT and MIT weren’t operational—occupancy is still solid—but driven by forex pressure and high rates. I’m not shaken on fundamentals; this looks more like a macro headwind than a broken story.
Ultimately, the only metric that matters is my own P/L. Earnings headlines come and go, but dividends hitting the account and long-term portfolio resilience are what really count. Curious to see which S-REITs are carrying everyone else’s portfolio this season.
@Tiger_SG @TigerStars @Tiger_comments @TigerClub