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Let's have a quick dive into this week REITs update from Frasers Logistic & Commercial Trust, Landlease Global Commercial Trust, Paragon REIT, AIM APAC REIT, Daiwa House Logistic REIT, Prime US REIT, United Hampshire US REIT.
S-REITs Recap - Week 19
6 May - 12 May 2024
Frasers Logistic & Commercial Trust |
( YTD: -11.30% | 5D: +2.00%)
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1HFY24 Highlights
- Resilient Logistics & Industrial (“L&I”) operating performance with another quarter of 100% occupancy
- Healthy average portfolio rental reversions of +10.0% (incoming rent vs. outgoing rent basis) and +18.3% (average rent vs. average rent basis) for 1HFY24
- L&I portfolio strengthened with acquisitions in Germany and development completion in the UK, bringing total portfolio value to S$6.8 billion
- Healthy capital position with aggregate leverage at 32.7% and debt headroom of S$851 million1 available for acquisitions
- In progress to advancing our ESG achievements with the continued solar panel installations across our properties
For more update information, please click here
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Landlease Global Commercial REIT |
( YTD: -13.95% | 5D: +3.74% )
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3Q FY2024 Business Update
- Portfolio Committed Occupancy: 88.8%
- Retail Portfolio Committed Occupancy: 99.4%
- Office Portfolio Committed Occupancy: 81.2%
- Retail Rental Reversion: 15.3%
- WALE: 7.8 years (by NLA)
- Tenant Retention: 86.2% (by NLA)
- Office Rental Uplift: 1.5%
For further information, please click here
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Paragon REIT |
( YTD: -4.52% | 5D: +0% )
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1Q FY2024 Key highlights
- Gross Revenue: S$73.8m (+3% yoy)
- Portfolio Occupancy: 98.1%
- Portfolio WALE: 2.9 years by GRI | 5.0 years by NLA
- Gearing: 29.9%
- Fixed Debt: 85%
- Average cost of debt: 4.57%
- Weighted average term to maturity: 1.9 years
For further information, please click here
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AIMS APAC REIT |
( YTD: +0% | 5D: +4.00% )
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Full Year Results
- Net Property Income for FY2024 up by 6.9% to S$131.0 million, underpinned by strong rental reversion of 24.3% (FY2023: 18.5%)
- Maintained high portfolio occupancy of 97.8% (FY2023: 98.0%)
- Portfolio WALE extended from 4.4 years to 5.1 years year-on-year, following signing of new and renewal master and major leases over FY2024
- Signed 15-year master lease with a global storage and information management company and in advanced negotiation to secure a global precision engineering and technology group as anchor tenant for long term lease for two AEI projects
- Prudent gearing of 32.6% with no financing requirements until 3Q FY2025
- Robust balance sheet provides significant headroom for further organic growth and potential acquisitions
For futher information, please click here
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Daiwa House Logistic REIT |
( YTD: -10.69% | 5D: +1.74% )
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1Q FY 2024 Business Updates
- Underlying performance of portfolio remained healthy as net property income in JPY terms improved by 4.6% y-o-y
- Steady operational performance and realised gain from hedges resulted in stable distributable income
- Aggregate leverage crept up with additional borrowings for acquisition, remaining healthy at 37.3%
For further information, please click here
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Prime US REIT |
( YTD: -49.08% | 5D: -0.89% )
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1Q2024 Key Business & Operational Updates
- Comparing 1Q 2024 to 1Q 2023
- Gross Revenue down 7.6%
- Net Property Income down 11.7%
- Income Available for Distribution down 19.5%
For further information, please click here
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United Hampshire REIT |
( YTD: -16.83% | 5D: -1.18% )
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1Q2024 Key Business
- 1Q 2024 Gross Revenue increased 2.3% y-o-y supported by new leases and rental escalations from existing leases
- WALE increased to 7.9 years1 , up from 7.1 years as a result of strong leasing momentum and tenant retention rate of 92% since IPO
- Grocery & Necessity Properties achieve high committed occupancy of 95.7%
- Robust leasing momentum continues into 1Q 2024 with eight lease renewals spanning over 318,000 sq ft
- Signed a leading national grocery chain as new anchor tenant in Lynncroft, which will significantly improve footfall and increase occupancy at the property to almost 100%
- Minimal lease rollover with only 1.1% and 4.3% expiring in 2024 and 2025 respectively
- No refinancing requirements until November 20263
For further information, please click 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 |
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REITs in STI Reserve List |
Keppel DC REIT |
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 |
Sabana 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 |
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