REITs show mixed movement after Fed's big rate cut: REITs Weekly Watch

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REITs

By Gerald Wong, CFA • 21 Sep 2024 • 0 min read

Singapore REITs delivered mixed share price performance following the US Federal Reserve interest rate cut.

Singapore REITs Top and Worst Performers 21 Sep 2024.jpg
In this article

What happened?

Singapore REITs ended a week of volatile trading little changed from the previous week, as the share prices of REITs had mixed reaction to the US Federal Reserve’s interest rate cut this week.

The CSOP iEdge S-REIT Leaders Index ETF closed at S$0.816, flat from its close in the previous week of $0.815.

singapore reits weekly wrap 21 sep 2024
 

Singapore REITs with overseas assets and small-and-mid-sized market cap outperformed, while large cap REITs saw some profit-taking following significant gains in recent weeks.

Singapore REITs Top Performers

singapore reits top performers 21 sep 2024

Singapore REITs Worst Performers

singapore reits worst performers 21 sep 2024

Check out our Singapore REIT screener to discover the best REIT for your portfolio.

REITs Trading at the lowest price-to-book valuation

To screen for Singapore REITs that may still offer good value, we look for REITs that have paid a dividend in the past 12 months and are trading at a low price-to-book valuation.

REITs with the Lowest Price-to-Book Ratios
Source: Beansprout Singapore REITs Screener Tool

The REITs that are trading at the lowest price-to-book valuation are:

Check out our Singapore REIT screener to discover the best REIT for your portfolio.

What's moving Singapore REITs  

  • CapitaLand Ascott Trust will be fully compensated for the losses it suffered for an alleged white-collar crime in Australia. This follows press reports in The Edge that a senior executive of CapitaLand in Australia purported faked tax, insurance and legal documents, as well as misappropriated funds. CapitaLand Ascott Trust noted that the incident would not have an impact on its distribution per stapled security and net tangible assets per stapled security for the financial year ending Dec 31.
  • OUE Reit has priced S$180 million in fixed-rate green notes due 2031 at 3.9%. Net proceeds from the issuance will be used to finance or refinance new or existing eligible green projects. 
  • Fullerton, an investment manager that is an indirect subsidiary of Temasek Holdings, has disposed of 121,900 units in Mapletree Industrial Trust to the open market. The disposal, which was conducted on Sept 13, netted the group $307,163.62, or $2.52 per unit. Following the disposal, Fullerton’ stake in MINT now stands at 0.452%. 

Beansprout Insight

CICT Preferential Offering - What should unitholders do? 

cict preferential offering september 2024

What we’re reading

Broker reports 

Investment blogs

Credit to Vince from REIT-Tirement for compiling Singapore REIT blog posts and videos

YouTube videos

Join the Beansprout Telegram group and REIT Investment Community on Facebook for the latest insights on Singapore REITs. 

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