OREANDA-NEWS. March 11, 2015. Real Estate Investment Trusts (REITs) are traded on major exchanges just like stocks. They can invest in a wide range of diversified real estate assets such as office, residential, retail, hospitality, industrial properties or hi-tech parks. The income generated by these properties are distributed to the investors as dividends.

The USD/SGD rose on Friday evening following stronger than expected monthly US jobs data. The currency cross rate began this week at 1.3776, which saw the three month Singapore Interbank Offered Rate (Sibor) move up 0.02353 percentage points to 0.8364%. Sibor is used to as a reference price for interbank and mortgage activity and posted each working day at 11am by the Association of Banks in Singapore.

Following the Sibor gain on Monday, Singapore’s 28 Real Estate Investment Trusts (REITs) and six stapled securities averaged a 0.8% decline on Monday. In total yesterday, there were 25 trusts that declined, seven trusts unchanged and two gainers. This brought the average year to date gain for the 34 trusts to 3.9% on a dividend adjusted basis and 16.9% over the past year.

The one year return was marginally above the average 15.3% gain for the 191 securities representing the REIT Sector on New York Stock Exchange (NYSE) over the past year. The similar performances stretch back further to a period of five years where the Singapore’s REITs averaged a 64.1% dividend adjusted gain compared to the NYSE average of 60.0%.

The average price-to-book ratio for the REIT Sector on NYSE is 2.2 versus an average of 1.0 for Singapore’s REIT sector. On a return-to-equity (ROE) basis, the median ROE for the NYSE REIT Sector is 5.6%, versus 8.8% for Singapore’s REIT Sector. The combined market capitalisation of the 28 REITs and six Stapled Trusts listed on SGX is S\\$65.9 billion. Together, these 34 maintain an average dividend yield of 6.3% which is higher than the 5.5% average for the securities representing the REIT Sector on NYSE.

The table below details the 28 REITs and six Stapled Trusts listed on the Singapore Exchange (SGX), including yesterday’s moves and the year to date moves.

Company Name SGX Code Mkt Cap S\\$M 30 Day Moving Average (SGD) Day Close Price (SGD) % Px Chg [1 Day]

% Change - Dividend Adj.

YTD

 Daily Value Traded (S\\$M) Dvd Yld (%)
CapitaMall Trust C38U 7,237.5 2.1 2.1 -1.4 3.8 23.8 5.1
Ascendas Real Estate Investment Trust A17U 5,942.1 2.5 2.5 -1.6 3.8 28.3 5.8
CapitaCommercial Trust C61U 5,171.4 1.8 1.8 -1.7 2.3 22.5 4.8
Suntec Real Estate Investment Trust T82U 4,762.3 1.9 1.9 -2.1 -1.8 17.2 4.9
Keppel REIT K71U 3,891.7 1.2 1.2 -1.2 0.6 3.2 4.9
Mapletree Commercial Trust N2IU 3,210.2 1.5 1.5 -1.6 9.3 4.1 5.1
Mapletree Logistics Trust M44U 3,018.4 1.2 1.2 -1.2 4.5 4.7 6.2
Mapletree Greater China Commercial Trust RW0U 2,821.9 1.0 1.0 -1.4 9.5 5.4 5.9
Fortune Real Estate Investment Trust F25U 2,805.7 1.5 1.5 -2.0 11.1 0.5 4.9
Mapletree Industrial Trust ME8U 2,690.4 1.6 1.5 -1.9 5.5 7.7 6.8
SPH REIT SK6U 2,639.0 1.1 1.1 0.0 1.8 1.9 5.7
Ascott Residence Trust A68U 1,968.3 1.3 1.3 0.0 4.2 0.6 6.4
Frasers Centrepoint Trust J69U 1,841.5 2.0 2.0 -1.5 7.5 3.8 5.5
Starhill Global REIT P40U 1,787.2 0.8 0.8 -0.6 5.4 3.3 6.1
CDL Hospitality Trusts J85 1,699.3 1.8 1.7 -1.1 2.7 2.8 6.3
Parkway Life Real Estate Investment Trust C2PU 1,452.0 2.4 2.4 -0.4 2.1 0.9 4.8
Far East Hospitality Trust Q5T 1,431.3 0.8 0.8 0.6 0.3 1.1 6.4
CapitaRetail China Trust AU8U 1,395.4 1.7 1.7 -0.3 7.4 1.0 5.8
Keppel DC REIT AJBU 1,280.9 1.0 1.0 -1.0 5.1 2.4 -
OUE Hospitality Trust SK7 1,240.3 0.9 0.9 -1.1 5.3 1.9 7.1
Frasers Hospitality Trust ACV 1,061.4 0.9 0.9 -0.6 0.0 0.4 -
Frasers Commercial Trust ND8U 1,014.6 1.5 1.5 -1.0 7.1 1.5 5.7
First Real Estate Investment Trust AW9U 969.5 1.3 1.3 -1.9 7.2 0.8 6.0
Lippo Malls Indonesia Retail Trust D5IU 945.6 0.4 0.4 0.0 3.4 0.5 7.9
AIMS AMP Capital Industrial REIT O5RU 920.7 1.5 1.5 0.0 5.9 0.4 7.2
Cache Logistics Trust K2LU 910.7 1.2 1.2 -0.9 2.3 1.7 7.3
Cambridge Industrial Trust J91U 890.1 0.7 0.7 -0.7 4.8 1.3 7.1
Ascendas Hospitality Trust Q1P 773.9 0.7 0.7 0.7 2.2 0.3 8.0
OUE Commercial Real Estate Investment Trust TS0U 697.9 0.8 0.8 0.0 2.9 1.2 7.1
Sabana Shariah Compliant Industrial Real Estate Investment Trust M1GU 661.8 0.9 0.9 0.0 -1.3 0.5 8.1
Soilbuild Business Space REIT SV3U 656.7 0.8 0.8 -0.6 3.9 0.6 7.7
Viva Industrial Trust T8B 506.8 0.8 0.8 0.0 3.3 0.2 8.4
IREIT Global UD1U 346.0 0.9 0.8 -0.6 -4.5 0.1 -
Saizen Real Estate Investment Trust T8JU 243.9 0.9 0.9 -0.6 3.7 0.1 7.3
Average     1.3   -0.8 3.9 4.3 6.3

Source: S&P Capital IQ (Data as of 9 March 2015)