Report Summary

• The Singapore S-REITs sector saw several key developments, including asset divestments, refinancing, and acquisitions across major REITs such as Stoneweg Europe Stapled Trust, CapitaLand Ascendas REIT, and Keppel DC REIT.
• Overall, the FTSE ST REIT Index rose 0.5% week-on-week, outperforming the STI which declined by 0.4%. Sector performance was led by Office REITs, while Data Centre and Healthcare sectors lagged.
• Peer comparison shows average forward yields for S-REITs around 6.5%, with price-to-book ratios generally below 1, and debt-to-asset ratios averaging 40%.
• Geographically, Singapore remains the dominant asset location for most REIT portfolios, though overseas exposure is significant in selected sectors such as industrial, lodging, and data centres.
• OCBC’s ratings for covered REITs are mostly “BUY” for major names, reflecting positive medium-term outlooks, with a few “HOLD” ratings for specific trusts.
• The report includes a disclaimer on investment suitability, conflict of interest, and rating methodology, advising investors to consider personal financial situations before investing.