PUBLISHED MAY 31, 2016 Straits Times
S-Reits hit by weaker market conditions
Challenging market conditions have hit Singapore-listed real estate investment trusts (S-Reits), say analysts.
While S-Reits are still a favourite of investors here as they consistently outperform the Straits Times Index (STI), 27 Reits and six stapled trusts listed here reported an average distribution per unit (DPU) growth of 1.8 per cent in the first quarter, according to a press release by SGX yesterday.
The list excludes recently listed Manulife Reit, Fortune Reit which reports earnings on a half-yearly basis, as well as Saizen Reit.
This is the first time SGX has collaborated with the Reit Association of Singapore to track the quarterly performance of S-Reits.
But similar data available from OCBC investment research showed that the average DPU of 22 Reits came in at -0.9 per cent on a year-on-year basis for the first quarter ended March 31, compared with positive year-on-year growth of 1.9 per cent for the quarter ended December last year.