
Let's have a quick dive into this week REITs update from AIMS APAC REIT, Digital CORE REIT, CapitaLand China Trust, CapitaLand Ascendas REIT, First Reit
S-REITs Recap - Week 6
2 Feb - 8 Feb 2026
AIMS APAC REIT
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( YTD: +2.00% | 5D: +2.00%)
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5 Feb - Third Quarter FY2026 Business Update
- Net Property Income rose 4.1% YoY to S$103.7 million for 9M FY2026, with Distributions to Unitholders increased by 3.1% YoY to S$59.3 million
- Portfolio occupancy rose to 95.4%1, with rental reversions of 8.0%2 for 9M FY2026
- Completion of Framework Building acquisition and contribution from two portfolio rejuvenation initiatives continue to enhance portfolio resilience and drive sustainable growth
- Well placed for further acquisitions and organic growth initiatives, supported by a resilient balance sheet with aggregate leverage of 36.6%
For more information, please click here
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| Digital CORE REIT |
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( YTD: +1.96% | 5D: -3.70%)
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4 Feb - 2025 Full Year Financial Result
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Declared a distribution per unit of 3.60 U.S. cents for FY 2025
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Signed new and renewal leases representing $26 million of annualised rental revenue, maintaining 97% portfolio occupancy
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Acquired a 20% interest in a data centre in Osaka for ¥13 billion, or approximately US$87 million, expanding presence in Japan and enhancing portfolio quality
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Repurchased 1.8 million units at an average price of $0.565, generating 0.1% DPU accretion
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Established US$750 million Euro Medium-Term Note programme, opening access to public debt capital markets while preserving balance sheet flexibility with aggregate leverage of 37.1%
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For more information, please click here
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| CapitaLand China Trust |
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( YTD: -1.29% | 5D: -2.55%)
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5 Feb - Full Yearly Results
- Successfully divested CapitaMall Yuhuating at a premium to valuation
- Established a long-term capital recycling vehicle via the C-REIT platform to support ongoing portfolio reconstitution
- Actively source for new investments to reconstitute CLCT’s portfolio
For more information, please click here
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| CapitaLand Ascendas REIT |
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( YTD: -1.06% | 5D: -1.75%)
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5 Feb - Full Yearly Results
- CapitaLand Ascendas REIT (CLAR) announced distributable income growth of 1.4% year-on-year (YoY) to S$678.3 million for the financial year ended 31 December 2025 (FY 2025).
- CLAR’s improved performance was mainly driven by acquisitions completed in Singapore and the United States (US) in 2025, as well as prudent management of operating and interest expenses, partly offset by divestments completed in 2024 and 2025.
- CLAR’s distribution per unit (DPU) for FY 2025 was 15.005 Singapore cents compared to 15.205 Singapore cents in FY 2024, due to an enlarged unit base arising from the equity fundraising in June 2025. With the record date on Friday, 13 February 2026, unitholders of CLAR can expect to receive the 2H 2025 DPU of 7.528 Singapore cents on Friday, 13 March 2026.
- Based on the closing price of S$2.83 per unit on 31 December 2025, CLAR’s distribution yield for FY 2025 will be 5.3%. Gross revenue and net property income (NPI) for FY 2025 rose by 1.0% and 1.7% YoY to S$1,538.6 million and S$1,067.6 million, respectively.
- The NPI growth was partly supported by lower property operating expenses of S$471.0 million, a decrease of 0.4% YoY. The independent valuation of CLAR’s geographically diversified, multi-asset portfolio of 222 investment properties1 increased by 8.6% YoY to S$18.2 billion as at 31 December 2025.
- This was mainly due to new acquisitions and the completion of a redevelopment in FY 2025. The portfolio comprised S$12.4 billion (68%) of properties in Singapore, S$2.1 billion (12%) in Australia, S$2.0 billion (11%) in the US and S$1.7 billion (9%) in the United Kingdom (UK)/Europe. On a same-store basis, the total portfolio value increased by 2.0% YoY to S$16.6 billion as at 31 December 2025.
- By segment, the same-store valuation of the Business Space and Life Sciences portfolio increased by 1.2% YoY to S$7.8 billion. The same-store valuation of the Industrial and Data Centres portfolio segment recorded a 4.0% YoY increase to S$4.9 billion while the Logistics segment increased by 1.1% YoY to S$3.9 billion.
- As at 31 December 2025, the adjusted net asset value per unit was stable at S$2.21 compared to a year ago.
For more information, please click here
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| First REIT |
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( YTD: -1.82% | 5D: -3.57%)
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5 Feb - Full Yearly Results
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Rental and Other Income1 supported by a built-in escalation in rental income from Indonesia and Singapore
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Completion of divestment of Imperial Aryaduta Hotel & Country Club
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Appraised valuation remains robust at S$1.02 billion, 100% committed occupancy and relatively long WALE of 10 years
For more information, please click here
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| Recent Article |
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What the MEI Debate Really Means for S-REITs Managers
Substance Over Optics: Why the Management Efficiency Index (MEI) is the New North Star for S-REITs
The Singapore REIT (S-REIT) sector stands at a critical juncture where headline performance no longer guarantees investor confidence. Market participants particularly investors are more discerning, less forgiving of financial cosmetics, and increasingly focused on the quality and not merely the quantity of distributions. The focus is shifting from headline distribution per unit (DPU) to the underlying operational health of these vehicles.
And to get a gauge of this health, we created the Management Efficiency Index (MEI), a metric designed to measure whether management fees are translating into sustainable, recurring value for unitholders.
The Fallacy of Headline DPU
For years, investors are fixated on "headline DPU" as the primary indicator of performance.....
Click here for the full details here
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| STI Index constituents |
| REITs in STI |
Frasers Centrepoint Trust 18 Mar 2024 |
| CapitaLand Ascendas REIT |
| CapitaLand Integrated Commercial Trust |
| Frasers Logistics & Commercial Trust |
| Mapletree Industrial Trust |
| Mapletree Logistics Trust |
| Mapletree Pan Asia Commercial Trust |
Keppel DC REIT 23 Jun 2025 |
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| REITs in STI Reserve List |
| Keppel REIT |
| Suntec REIT |
| REITracker Highlights |
| REIT Name |
Status |
| Keppel Pacific Oak US REIT |
Halt Dividend since 14 Feb 2024 |
| Manulife US REIT |
Halt Dividend since 14 Aug 2023 |
Alpha Integrated REIT previously Sabana Industrial REIT |
Proposed Internalization is in progress since 17 Aug 2023 |
| Lippo Malls Indonesia Retail Trust |
Halt Dividend since 20 Mar 2023 |
| EC World REIT |
Halt Trading since 31 March 2023 |
| Eagle Hospitality Trust |
Halt Trading since 24 March 2020 |
| Paragon Reit |
Delisted on 6 Jun 2025 |
| CapitaLand Ascott Trust |
Removed from STI Reserve list on 22 Sept 2025 |
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