OREANDA-NEWS.  The 20 most active Real Estate Investment Trusts (REITs) of the past three months are made up of 19 REITs and one stapled security, CDL Hospitality Trust. The group of 20 most active trusts include the very first REIT to be listed on the exchange, CapitaLand Mall Trust as well as the most recent REIT to be listed on the exchange, Keppel DC REIT. These 20 trusts make up a total of almost S\\$50 billion in combined market capitalisation.  

These 20 trusts have averaged a 4.4% decline in total return in the year thus far, while the FTSE EPRA/NAREIT Asia REITs Index has declined 9.3% on a total return basis.  The FTSE EPRA/NAREIT Asia REITs Index currently trades at a P/E ratio of 10.7 and dividend yield of 4.6%. The 20 most active REITs of the past three months currently average a slightly higher P/E ratio of 11.3 and higher dividend yield of 6.8%. Among the 20 REITs, the three highest P/E ratios are maintained  by  Ascott Residence Trust, Soilbuild Business Space REIT and Starhill Global REIT while the three lowest P/E ratios are maintained by Mapletree Industrial Trust, Mapletree Greater China Commercial Trust and Keppel REIT.

Of the 20 REITs, eight have generated positive total returns in the year thus far. These were Soilbuild Business Space REIT (+9.4%), Keppel DC REIT (+8.1%), Mapletree Industrial Trust (+5.6%), Frasers Centrepoint Trust (+4.6%) and Ascott Residence Trust (+4.0%), Mapletree Greater China Commercial Trust (+1.1%), Parkway Life REIT (+0.5%) and Starhill Global REIT (+0.1%). The full list of the 20 most active REITs are detailed in the table below. Please note that by clicking on a stock’s name will direct you to its page on StockFacts.

20 Most Active REITs of the Past Three Months

Name SGX Code Mkt. Cap.in S\\$ mm Price vs. Highin % Price vs. Lowin % 3M Trd. Val.in S\\$ mm 3M Trd. Vol.in mm

1YR Vol

in %

 Div. Yld.in %
Ascendas Real Estate Investment Trust A17U 5,369 -17.71 4.69 22.6 9.72 mm 18.65 6.6
CapitaLand Mall Trust C38U 6,529 -17.32 2.17 18.4 9.13 mm 18.57 5.8
CapitaLand Commercial Trust C61U 3,936 -31.01 8.98 14.8 10.57 mm 19.56 6.4
Suntec Real Estate Investment Trust T82U 3,766 -30 10 10 6.12 mm 15.06 6.4
Keppel REIT K71U 3,060 -23.51 6.08 5.4 5.08 mm 11.68 7.1
Mapletree Logistics Trust M44U 2,464 -21.03 7.57 5.4 5.00 mm 11.8 7.5
Mapletree Industrial Trust ME8U 2,624 -9.15 10.37 5.3 3.47 mm 13.41 7.2
Mapletree Greater China Commercial Trust RW0U 2,541 -15.45 9.41 4.8 4.86 mm 16.28 7.1
Ascott Residence Trust A68U 1,910 -6.06 13.76 3.0 2.38 mm 11.97 6.5
Mapletree Commercial Trust N2IU 2,717 -22.59 3.63 2.7 1.97 mm 17.16 6.3
Frasers Centrepoint Trust J69U 1,742 -11.63 3.54 2.6 1.32 mm 15.38 6.1
CDL Hospitality Trusts J85 1,335 -25.34 11.52 2.4 1.61 mm 15.24 7.7
Starhill Global REIT P40U 1,647 -14.04 10.07 2.3 2.77 mm 13.57 6.5
CapitaLand Retail China Trust AU8U 1,165 -22.19 6.95 2.3 1.52 mm 17.69 7.4
Cache Logistics Trust K2LU 795 -15.77 7.98 2.3 2.12 mm 11.19 8.5
Keppel DC REIT AJBU 900 -7.27 7.94 2.3 2.23 mm N/A 6.7*
Parkway Life Real Estate Investment Trust C2PU 1,392 -6.5 5.5 1.7 0.73 mm 12.99 5.4
SPH REIT SK6U 2,428 -11.93 7.26 1.4 1.38 mm 10.13 5.4
Frasers Commercial Trust ND8U 916 -15.19 13.56 1.2 0.88 mm 18.51 7.0
Soilbuild Business Space REIT SV3U 758 -6.86 10.14 1.2 1.38 mm 12.22 7.8

REITs raise capital to purchase primarily real estate assets, usually with a view to generating income for unit holders of the fund. It allows individual investors to access real property assets and share the benefits and risks of owning a portfolio of property assets which typically distribute income at regular intervals.

Like the FTSE EPRA/NAREIT Asia REITs Index, Singapore’s REIT Sector average a total debt to asset ratio between 30% and 35%. This compares to between 40% and 45% for the FTSE EPRA/NAREIT Global REITS Index.