- In this note, we summarise investor feedback on our recent report: Singapore REITs 2025 Outlook - Year Of Transition and initiation on Parkway Life REIT as well as preview upcoming results.
- - Read this at SGinvestors.io -
Sector Preview
- See S-REITs' earnings reporting dates. We expect S-REITs' distribution to decline ~3% y-o-y led by hospitality (high base effects) and industrial (operational weakness). Sequentially, distributions should stabilise excluding the seasonal effects.
- - Read this at SGinvestors.io -
- Our base case is for stable occupancy for Industrial sector, though, reversion will moderate further. Commercial reversion should be flat-to-negative with frictional vacancies for overseas portfolio. Sluggish visitor arrivals, higher supply and high base effect will affect hotel RevPARs.
- We look forward to any changes in funding cost guidance given decline in base rates. We look forward to updates on corporate action/asset transactions (for Suntec REIT, OUE REIT, CapitaLand Ascendas REIT, CDL Hospitality Trusts and First REIT) and refinancing (Lendlease REIT).
Investors feedback
Investors concur REITs offer relative value and, coupled with expected rate cuts, can outperform.
- Read more at SGinvestors.io.
