Singapore REITs – Monthly Analysis – The Property Chronicle
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Singapore REITs – Monthly Analysis

The Fund Manager

  • FTSE ST REIT Index up 823.64 to 837.43 (+1.67%) on the month update.
  • REIT Index has rebounded c43% as of July 12 from the bottom on Mar 23, 2020.
  • Yield spread (reference to 10-year Singapore government bond of 0.896%) has tightened from 5.47% to 4.414% due to cut in dividend yield. 
  • The risk premium is still attractive to accumulate Singapore REITs in stages to lock in the current price and long-term yield after the recovery.
  • Technically the REIT Index is currently trading on sideway consolidation until the breakout either break above the 200D SMA or break below the 50D SMA.

Technical Analysis 

Currently the REIT index is currently trading on sideway consolidation, sandwiched between 200D SMA and 50D SMA.  Immediate support at about 825 (Gap support) followed by 50D SMA. Immediate resistance at 200D SMA.

Short term direction: Sideway.

Most Overvalued REITs  

  • Keppel DC REIT (Price/NAV = 2.30)
  • Mapletree Industrial Trust (Price/NAV = 1.83)
  • Parkway Life (Price/NAV = 1.73)
  • Mapletree Logistic Trust (Price/NAV = 1.67) 
  • Ascendas REIT (Price/NAV = 1.51).

Most Undervalued REITs 






The Fund Manager

About Kenny Loh

Kenny Loh

Kenny Loh is a senior consultant and REITs specialist at Singapore’s top independent financial adviser. He is also a certified financial planner, REIT trainer for the Singapore Exchange, and a certified trainer by the Institute of Banking and Finance Singapore. His personal investment blog is at http://mystocksinvesting.com.

Articles by Kenny Loh

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