- FY24F earnings growth will be a key focus among investors as the STI heads into a year of slow earnings growth. We expect REITs to outperform the STI.
REITs as prime Fed pivot beneficiaries
- Having borne the brunt of rising interest rates for nearly two years, we expect REITs to outperform the benchmark next year as the Fed pauses rate hikes. This is evident from the past two periods of rate pauses – in 2006-2007 and 2019. The same has been true thus far in this pause, with the FTSE ST REITs Index outperforming the STI by 5.7% (as of 19 Dec 2023) since the Fed funds rate peaked in July 2023.
- - Read this at SGinvestors.io -
8 S-REITs to position into 2024
- Our REITs team picked out 8 REITs to position into for 2024:
- - Read this at SGinvestors.io -
- We also prefer diversified REITs Mapletree Pan Asia Commercial Trust (SGX:N2IU) and Keppel REIT (SGX:K71U) for their deep value with yields still wider-than-average.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Kee Yan YEO DBS Group Research | Fang Boon FOO DBS Research | https://www.dbs.com/insightsdirect/ 2024-01-04
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