---
title: S-REITs - Week 19 - 2024
description: Get the latest updates on S-REITs performance in Week 19 of 2024. Dive into key highlights from Frasers Logistic & Commercial Trust, Landlease Global Commercial Trust, and more. Stay informed with REITsavvy Team.
---

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# [S-REITs - Week 19 - 2024](https://reitsavvy.com/insights/s-reits-week19-2024)

 Written by [REITsavvy Team](https://reitsavvy.com/insights/author/reitsavvy-team) | May 12, 2024 2:00:00 AM

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%)** |
| 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](https://flct.frasersproperty.com/newsroom/FLCT_-_1HFY24_Press_Release.pdf) |

| **Landlease Global Commercial REIT** |
| --- |
| **( YTD: -13.95% \| 5D: +3.74% )** |
| 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](https://www.lendleaseglobalcommercialreit.com/siteassets/investor-centre/newsroom/announcements/2024/3q-fy2024.pdf) |

| **Paragon REIT** |
| --- |
| **( YTD: -4.52% \| 5D: +0% )** |
| 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% - A**verage cost of debt:** 4.57% - **Weighted average term to maturity:** 1.9 years For further information, please click [here](https://paragonreit.listedcompany.com/newsroom/20240506_173922_SK6U_XUZNGUZKTOKUO8Q2.1.pdf) |

| **AIMS APAC REIT** |
| --- |
| **( YTD: +0% \| 5D: +4.00% )** |
| 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](https://investor.aimsapacreit.com/newsroom/20240507_071740_O5RU_VZYFV0JJHSFCWMNN.1.pdf) |

| **Daiwa House Logistic REIT** |
| --- |
| **( YTD: -10.69% \| 5D: +1.74% )** |
| 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](https://investor.daiwahouse-logisticstrust.com/newsroom/DHLT_-_1QFY2024_Press_Release.pdf) |

| **Prime US REIT** |
| --- |
| **( YTD: -49.08% \| 5D: -0.89% )** |
| 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](https://investor.primeusreit.com/newsroom/20240508_174114_OXMU_W4748QLA0UUKJ7PZ.1.pdf) |

| **United Hampshire REIT** |
| --- |
| **( YTD: -16.83% \| 5D: -1.18% )** |
| 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](https://investor.uhreit.com/newsroom/2._UHREIT_1Q2024_Operational_Updates_Press_Release.pdf) |

| **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 |
|   |
| **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 |

| **Exclusive REITsavvy Newsletter** |
| --- |

 

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