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Friday, May 10, 2013

Singpore REITs Sector Update

Singapore REITs was one of the best performer among the world REITs. The outstanding performance has been continued for the first quarter this year. the REITs good not only because of their yield but also their continue growth potential. I had few posts in the past for REITs. Here is the latest report from Stanchart:

Yield is not a differentiator; buy growth
1Q13 SREITs results wrap

 In 1Q13, retail landlords outperformed our expectations while hotel REITs saw revenue decline
  •  We believe valuations are not far from the peak, and we see just 10% upside from here unless interest rates stay low for a prolonged period
  •  New listings offer better value at close to NAV, compared to the sector P/NAV of 1.24x
  •  We maintain our Neutral stance on the sector. Our top picks remain CT and MCT
(click to Enlarge)

There is a new IPO started trading today: Croesus Retails Trust, which focus on Japan retail properties.

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