Singapore REITs 2Q23 Round-up - UOB Kay Hian 2023-08-23: Weathering The Strain From Higher Interest Rates

• For the 20 S-REITs under our coverage, one outperformed (United Hampshire US REIT), four underperformed (CapitaLand Ascott Trust, CDL Hospitality Trusts, Manulife US REIT and Prime US REIT) and the remaining 15 were in line with our expectations.
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• Resiliency of balance sheets is of paramount importance as S-REITs weather a protracted period of elevated interest rates. Maintain OVERWEIGHT.
• BUY
  • - Read this at SGinvestors.io -
  • CapitaLand Ascendas REIT,
  • CapitaLand Ascott Trust,
  • Frasers Logistics & Commercial Trust, and
  • Mapletree Industrial Trust.

Data centre REITs: Making progress.

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Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-08-23 SGinvestors.io

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