- The S-REITs Index recovered 5.4% in July, following its 1.8% decline in June. The top performer for the month was Prime US REIT (SGX:OXMU) gaining 62.4% after the successful refinancing of its main credit facility. The worst performer was Daiwa House Logistics Trust (SGX:DHLU), falling 1.8% as the weak yen continues to erode DPU. The overseas commercial sub-sector was the top performer in July, gaining 26.6%, driven by the US office REITs. In contrast, the worst-performing sub-sector was hospitality, which grew by 2%, as global RevPAR growth moderated.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
- Catalysts are expected from a pick-up in the economy, asset recycling, and interest rate cuts.
S-REIT Sector Round-up
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Darren Chan Phillip Securities Research | https://www.stocksbnb.com/ 2024-08-26
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