Singapore REITs - OCBC Investment 2024-05-20: Down But Not Out

• The S-REITs sector has remained an underperformer year-to-date relative to the Straits Times Index (STI) and MSCI Singapore Index.

Share price performance remains closely tied to UST yield movements

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• We expect near-term sentiment of the S-REITs sector to remain heavily influenced by economic data, which has a bearing on the movements of UST yields.
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1Q24 results review: Continued pressure on DPU trends given higher borrowing costs, FX headwinds and enlarged unit bases

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OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2024-05-20 SGinvestors.io

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