Earlier this month, SPH REIT kick-started the latest quarterly reporting season with the release of its fiscal first quarter results ended 30 November 2018. This was followed by First REIT, ESR-REIT and Frasers Commercial Trust, which also unveiled their financial results last week.
Frasers Centrepoint Trust, Keppel REIT, Mapletree Logistics Trust and Soilbuild Business Space REIT will announce their results today. The rest of the S-REITs and Business Trusts are expected to release their results over the next few weeks.
The iEdge S-REIT Index’s 35 constituents, which have a combined market capitalisation of more than S$83 billion, have averaged a total return of 4.5% in the 2019 YTD. This brings their 1Y and 3Y total returns to 0.7% and 46.9% respectively.
On 4 January, SPH REIT kicked off the current financial reporting season for Singapore REITs with the release of its fiscal Q1 2019 results. This was followed by First REIT, ESR-REIT and Frasers Commercial Trust, which unveiled their results last week. Frasers Centrepoint Trust, Keppel REIT, Mapletree Logistics Trust and Soilbuild Business Space REIT are scheduled to announce their results later today. The remaining constituents of the iEdge S-REIT Index will report their results over the next few weeks (see schedule below and click here for the weekly Economic Calendar).
The table below highlights the confirmed, estimated and released dates of earnings reports by Singapore REITs and Business Trusts, sorted by date.
| Name | SGX Code | Date | Date Type | Period |
|---|---|---|---|---|
| SPH REIT | SK6U | 4-Jan-19 | Released | Q1 19 |
| First REIT | AW9U | 16-Jan-19 | Released | FY 18 |
| ESR-REIT | J91U | 18-Jan-19 | Released | FY 18 |
| Frasers Commercial Trust | ND8U | 18-Jan-19 | Released | Q1 19 |
| Frasers Centrepoint Trust | J69U | 21-Jan-19 | Confirmed | Q1 19 |
| Keppel REIT | K71U | 21-Jan-19 | Confirmed | FY 18 |
| Mapletree Logistics Trust | M44U | 21-Jan-19 | Confirmed | Q3 19 |
| Soilbuild Business Space REIT | SV3U | 21-Jan-19 | Confirmed | FY 18 |
| Keppel DC REIT | AJBU | 22-Jan-19 | Confirmed | FY 18 |
| Mapletree Industrial Trust | ME8U | 22-Jan-19 | Confirmed | Q3 19 |
| CapitaLand Mall Trust | C38U | 23-Jan-19 | Confirmed | FY 18 |
| Mapletree Commercial Trust | N2IU | 23-Jan-19 | Confirmed | Q3 19 |
| Suntec REIT | T82U | 23-Jan-19 | Confirmed | FY 18 |
| Ascendas India Trust | CY6U | 24-Jan-19 | Confirmed | Q3 19 |
| CapitaLand Commercial Trust | C61U | 24-Jan-19 | Confirmed | FY 18 |
| Frasers Logistics & Industrial Trust | BUOU | 24-Jan-19 | Confirmed | Q1 19 |
| Cache Logistics Trust | K2LU | 25-Jan-19 | Confirmed | FY 18 |
| Mapletree North Asia Commercial Trust | RW0U | 25-Jan-19 | Confirmed | Q3 19 |
| Sabana Shari'ah Compliant Industrial REIT | M1GU | 25-Jan-19 | Estimated | FY 18 |
| Parkway Life REIT | C2PU | 28-Jan-19 | Confirmed | FY 18 |
| Ascott Residence Trust | A68U | 29-Jan-19 | Confirmed | FY 18 |
| CDL Hospitality Trusts | J85 | 29-Jan-19 | Confirmed | FY 18 |
| OUE Hospitality Trust | SK7 | 29-Jan-19 | Confirmed | FY 18 |
| Starhill Global REIT | P40U | 29-Jan-19 | Confirmed | Q2 19 |
| Ascendas REIT | A17U | 30-Jan-19 | Confirmed | Q3 19 |
| Frasers Hospitality Trust | ACV | 30-Jan-19 | Confirmed | Q1 19 |
| CapitaLand Retail China Trust | AU8U | 31-Jan-19 | Estimated | FY 18 |
| AIMS AMP Capital Industrial REIT | O5RU | 1-Feb-19 | Estimated | Q3 19 |
| Ascendas Hospitality Trust | Q1P | 1-Feb-19 | Estimated | Q3 19 |
| RHT Health Trust | RF1U | 8-Feb-19 | Estimated | Q3 19 |
| Manulife US REIT | BTOU | 11-Feb-19 | Confirmed | FY 18 |
| Lippo Malls Indonesia Retail Trust | D5IU | 13-Feb-19 | Estimated | FY 18 |
| IREIT Global | UD1U | 14-Feb-19 | Estimated | FY 18 |
| Far East Hospitality Trust | Q5T | 15-Feb-19 | Estimated | FY 18 |
| EC World REIT | BWCU | 28-Feb-19 | Estimated | FY 18 |
Source: Bloomberg & StockFacts as of 17 Jan 2019.
Performances of iEdge S-REIT Constituents
The iEdge S-REIT Index has 35 constituents with a combined market capitalisation of more than S$83 billion. The index generated a total return of 4.5% in the 2019 year-to-date, bringing its three-year and one-year total returns to 0.7% and 46.9% respectively. For a previously published Market Update on the recent performance of S-REITs, click here.
The table below details the constituents of the iEdge S-REIT Index, sorted by market capitalisation.
| Name | SGX Code |
Market Cap (S$M) |
Total Return YTD (%) |
Total Return 1Y (%) |
Total Return 3Y (%) |
P/E (x) |
P/B (x) |
Div Yld (%) |
|---|---|---|---|---|---|---|---|---|
| CapitaLand Mall Trust | C38U | 8,590.5 | 3.1 | 21.4 | 43.8 | 12.4 | 1.2 | 4.9 |
| Ascendas REIT | A17U | 8,522.9 | 6.6 | 5.8 | 51.9 | 17.3 | 1.2 | 5.8 |
| CapitaLand Commercial Trust | C61U | 6,852.3 | 4.6 | -1.2 | 69.0 | 14.2 | 1.0 | 4.6 |
| Suntec REIT | T82U | 5,047.5 | 6.2 | -8.2 | 47.1 | 22.7 | 0.9 | 5.3 |
| Mapletree Commercial Trust | N2IU | 4,939.2 | 3.6 | 10.9 | 60.1 | 8.7 | 1.2 | 5.3 |
| Mapletree Logistics Trust | M44U | 4,810.6 | 6.3 | 6.4 | 68.4 | 9.1 | 1.1 | 5.8 |
| Keppel REIT | K71U | 4,004.2 | 3.5 | -3.4 | 55.3 | 23.6 | 0.8 | 4.8 |
| Mapletree Industrial Trust | ME8U | 3,741.0 | 3.1 | 0.0 | 57.4 | 12.1 | 1.3 | 6.0 |
| Mapletree North Asia Commercial Trust | RW0U | 3,736.4 | 3.5 | 0.8 | 66.4 | 5.9 | 0.9 | 6.4 |
| SPH REIT | SK6U | 2,608.0 | 2.3 | 1.7 | 28.3 | 19.4 | 1.1 | 5.5 |
| Ascott Residence Trust | A68U | 2,446.0 | 4.6 | -4.1 | 27.4 | 20.6 | 0.8 | 6.1 |
| Frasers Logistics & Industrial Trust | BUOU | 2,143.5 | 2.9 | 0.3 | - | 12.1 | 1.1 | 6.5 |
| Frasers Centrepoint Trust | J69U | 2,105.8 | 4.6 | 6.0 | 41.7 | 12.4 | 1.1 | 5.3 |
| Keppel DC REIT | AJBU | 1,919.2 | 5.2 | 2.3 | 65.6 | 21.0 | 1.4 | 5.0 |
| CDL Hospitality Trusts | J85 | 1,880.5 | 6.8 | -7.3 | 50.2 | 13.2 | 1.0 | 6.0 |
| ESR-REIT | J91U | 1,696.0 | 4.9 | 1.2 | 27.4 | - | 0.8 | 7.1 |
| Parkway Life REIT | C2PU | 1,633.5 | 2.7 | -3.8 | 43.6 | 15.7 | 1.5 | 4.8 |
| Starhill Global REIT | P40U | 1,526.8 | 2.9 | -2.5 | 15.5 | 15.2 | 0.8 | 6.4 |
| CapitaLand Retail China Trust | AU8U | 1,412.0 | 5.9 | -8.5 | 26.3 | 12.2 | 0.9 | 7.0 |
| Manulife US REIT* | BTOU | 1,401.9 | 4.7 | -7.6 | - | 14.7 | 1.0 | 6.2 |
| Frasers Hospitality Trust | ACV | 1,329.4 | 0.7 | -7.0 | 21.9 | 21.4 | 0.8 | 6.8 |
| Frasers Commercial Trust | ND8U | 1,281.2 | 4.4 | 3.3 | 44.7 | 8.5 | 0.9 | 6.7 |
| OUE Hospitality Trust | SK7 | 1,258.0 | 3.0 | -17.4 | 21.3 | 16.4 | 0.9 | 7.2 |
| Far East Hospitality Trust | Q5T | 1,170.0 | 3.3 | -8.4 | 19.6 | 48.4 | 0.7 | 6.4 |
| Ascendas India Trust | CY6U | 1,110.8 | -0.9 | 0.2 | 58.6 | 5.7 | 1.2 | 6.4 |
| AIMS AMP Capital Industrial REIT | O5RU | 941.3 | 3.0 | 7.8 | 32.4 | 12.2 | 1.0 | 7.5 |
| Ascendas Hospitality Trust | Q1P | 918.4 | 5.2 | -1.4 | 43.4 | 63.4 | 0.8 | 7.3 |
| First REIT | AW9U | 812.1 | 4.6 | -22.0 | 6.5 | 11.4 | 1.0 | 8.4 |
| Cache Logistics Trust | K2LU | 788.6 | 5.8 | -9.3 | 10.9 | 39.0 | 0.9 | 8.2 |
| Soilbuild Business Space REIT | SV3U | 635.2 | 3.4 | -9.1 | 4.5 | - | 0.9 | 8.7 |
| RHT Health Trust | RF1U | 616.7 | 4.1 | -0.4 | 26.6 | 56.3 | 1.0 | 5.4 |
| Lippo Malls Indonesia Retail Trust | D5IU | 614.9 | 18.1 | -42.3 | -6.9 | 19.5 | 0.6 | 11.9 |
| EC World REIT | BWCU | 566.3 | 3.6 | 0.4 | - | 10.3 | 0.8 | 8.6 |
| IREIT Global* | UD1U | 470.8 | 2.8 | 1.6 | 43.4 | 7.1 | 1.0 | 7.8 |
| Sabana Shari'ah Compliant Industrial REIT | M1GU | 426.5 | 3.8 | 8.2 | -15.5 | - | 0.8 | 8.2 |
| Average | 4.4 | -2.5 | 36.1 | 18.8 | 1.0 | 6.6 |
Source: Bloomberg & StockFacts as of 17 Jan 2019.
*Manulife US REIT is traded in USD, IREIT Global is traded in EUR, with their SGD equivalents shown in table.
