The following table with Singapore REIT dividends, dividend yields and data (price, market cap, float, dividend payout frequency, year to date return, gearing/leverage and NAV) is updated weekly.
REIT Market cap
Total REIT market cap stands at S$86.0b. Among the REITs, office has a market cap of S$19.8b, retail S$28.5b, industrial S$22.6b, hospitality S$9.3b, healthcare S$2.7b, data centres S$1.9b and others S$1.4b.
Number of REITs
There are 8 office REITs, 11 retail REITs, 11 industrial REITs, 6 hospitality REITs, 2 healthcare REITs, 1 data centre REIT and 1 REIT in the Others category, for a total of 40 REITs.
REIT currencies
There are 36 SGD denominated REITs, 2 USD denominated REITs, 1 EUR denominated REIT and 1 HKD denominated REIT.
REIT financial year end
27 REITs have Financial Years Ending in December, 7 REITs have Financial Years Ending in March, 4 REITs have Financial Years Ending in September, 1 REIT has a Financial Year Ending in June, 1 REIT has a Financial Year Ending in August.
REIT dividend/distribution payout frequency
19 REITs pay distributions on a semi-annual basis while 21 REITs pay distributions on a quarterly basis.
REIT dividend/distribution yields
The average yield for all REITs is 6.6%. The REIT with the lowest yield is ParkwayLife REIT at 4.7%. The REIT with the highest yield is EC World REIT at 8.5%.
The average yield for office REITs is 6.1%. The office REIT with the lowest yield is Keppel REIT at 5.1%. The office REIT with the highest yield is Frasers Commercial Trust at 6.9%.
The average yield for retail REITs is 6.4%. The retail REIT with the lowest yield is CapitaLand Mall Trust at 5.3%. The retail REIT with the highest yield is Lippo Malls Indo Retail Trust at 8.3%.
The average yield for industrial REITs is 7.3%. The industrial REIT with the lowest yield is Ascendas REIT at 6.2%. The industrial REIT with the highest yield is EC World REIT at 8.5%.
The average yield for hospitality REITs is 6.6%. The hospitality REIT with the lowest yield is CDL Hospitality Trust at 5.9%. The hospitality REIT with the highest yield is Ascendas Hospitality Trust at 7.7%.
There are only 2 healthcare REITS, First REIT and Parkway Life REIT. First REIT has a yield of 6.5% while Parkway Life REIT has a yield of 4.7%.
There is only 1 data centre REIT, Keppel DC REIT, which has a yield of 5.6%.
There is only 1 REIT in the Others category, Cromwell European REIT, which has a yield of 7.4%.
REIT forward dividend/distribution yields
Forward dividend yields are based on Bloomberg consensus forecasts for the current/next financial year.
The average forward yield for all REITs is 6.8%. The REIT with the lowest forward yield is ParkwayLife REIT at 4.7%. The REIT with the highest forward yield is EC World REIT at 9%.
The average forward yield for office REITs is 6.2%. The office REIT with the lowest forward yield is Keppel REIT at 5.1%. The office REIT with the highest forward yield is Keppel-KBS US REIT at 7.2%.
The average forward yield for retail REITs is 6.6%. The retail REIT with the lowest forward yield is CapitaLand Mall Trust at 5.4%. The retail REIT with the highest forward yield is Lippo Malls Indo Retail Trust at 8.3%.
The average forward yield for industrial REITs is 7.5%. The industrial REIT with the lowest forward yield is Ascendas REIT at 6.4%. The industrial REIT with the highest forward yield is EC World REIT at 9%.
The average forward yield for hospitality REITs is 7.0%. The hospitality REIT with the lowest forward yield is CDL Hospitality Trust at 6.2%. The hospitality REIT with the highest forward yield is Ascendas Hospitality Trust at 7.8%.
There are only 2 healthcare REITS, First REIT and Parkway Life REIT. First REIT has a forward yield of 6.6% while Parkway Life REIT has a forward yield of 4.7%.
There is only 1 data centre REIT, Keppel DC REIT, which has a forward yield of 5.8%.
There is only 1 REIT in the Others category, Cromwell European REIT, which has a forward yield of 7.5%.
REIT year to date returns
The average YTD return for all REITs is -2.3%. The REIT with the lowest YTD return is Lippo Malls Indo Retail Trust at -17.9%. The REIT with the highest YTD return is Sabana REIT at 14.7%.
The average YTD return for office REITs is -4.0%. The office REIT with the lowest YTD return is Suntec REIT at -16.1%. The office REIT with the highest YTD return is IREIT Global at 2.4%.
The average YTD return for retail REITs is -2.6%. The retail REIT with the lowest YTD return is Lippo Malls Indo Retail Trust at -17.9%. The retail REIT with the highest YTD return is BHG Retail REIT at 5.5%.
The average YTD return for industrial REITs is -0.3%. The industrial REIT with the lowest YTD return is ESR-REIT at -8.6%. The industrial REIT with the highest YTD return is Sabana REIT at 14.7%.
The average YTD return for hospitality REITs is -5.1%. The hospitality REIT with the lowest YTD return is Ascendas Hospitality Trust at -8.7%. The hospitality REIT with the highest YTD return is CDL Hospitality Trust at 1.1%.
There are only 2 healthcare REITS, First REIT and Parkway Life REIT. First REIT has a YTD return of 0.9% while Parkway Life REIT has a YTD return of -7.6%.
There is only 1 data centre REIT, Keppel DC REIT, which has a YTD return of 1.6%.
There is only 1 REIT in the Others category, Cromwell European REIT, which has a YTD return of 5.4%.
REIT gearing
The average gearing for all REITs is 34.8%. The REIT with the lowest gearing is SPH REIT at 25.4%. The REIT with the highest gearing is Viva Industrial Trust at 40.6%.
The average gearing for office REITs is 37.1%. The office REIT with the lowest gearing is Keppel-KBS US REIT at 33.6%. The office REIT with the highest gearing is IREIT Global at 40.5%.
The average gearing for retail REITs is 32.7%. The retail REIT with the lowest gearing is SPH REIT at 25.4%. The retail REIT with the highest gearing is Mapletree Greater China Com at 39.1%.
The average gearing for industrial REITs is 35.0%. The industrial REIT with the lowest gearing is EC World REIT at 28.9%. The industrial REIT with the highest gearing is Viva Industrial Trust at 40.6%.
The average gearing for hospitality REITs is 34.5%. The hospitality REIT with the lowest gearing is Ascendas Hospitality Trust at 30.8%. The hospitality REIT with the highest gearing is OUE Hospitality Trust at 38.7%.
There are only 2 healthcare REITS, First REIT and Parkway Life REIT. First REIT has a gearing of 34.1% while Parkway Life REIT has a gearing of 38%.
There is only 1 data centre REIT, Keppel DC REIT, which has a gearing of 37.4%.
There is only 1 REIT in the Others category, Cromwell European REIT, which has a gearing of 35.1%.
REIT Price to Book or Price to NAV ratio
The average Price to Book value for all REITs is 1.01. The REIT with the lowest Price to Book value is Fortune REIT at 0.67. The REIT with the highest Price to Book value is ParkwayLife REIT at 1.54.
The average Price to Book value for office REITs is 0.94. The office REIT with the lowest Price to Book value is OUE Commercial REIT at 0.77. The office REIT with the highest Price to Book value is IREIT Global at 1.14.
The average Price to Book value for retail REITs is 0.95. The retail REIT with the lowest Price to Book value is Fortune REIT at 0.67. The retail REIT with the highest Price to Book value is Frasers Centrepoint Trust at 1.08.
The average Price to Book value for industrial REITs is 1.05. The industrial REIT with the lowest Price to Book value is EC World REIT at 0.72. The industrial REIT with the highest Price to Book value is Mapletree Industrial Trust at 1.33.
The average Price to Book value for hospitality REITs is 0.92. The hospitality REIT with the lowest Price to Book value is Far East Hospitality Trust at 0.75. The hospitality REIT with the highest Price to Book value is CDL Hospitality Trust at 1.1.
There are only 2 healthcare REITS, First REIT and Parkway Life REIT. First REIT has a Price to Book value of 1.34 while Parkway Life REIT has a Price to Book value of 1.54.
There is only 1 data centre REIT, Keppel DC REIT, which has a Price to Book value of 1.45.
There is only 1 REIT in the Others category, Cromwell European REIT, which has a Price to Book value of 1.05.
| REIT name | Sector | Currency | Share price | Mkt cap | Float | FYE | DPU frequency | REIT name | Current DPU | Fwd DPU | Current yield | Fwd yield | YTD return | Gearing | P/B |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CapitaLand Commercial Trust | Office | SGD | 1.70 | 6,363 | 69.9 | Dec | Semi-Anl | CapitaLand Commercial Trust | 8.9 | 9.0 | 5.2 | 5.3 | -8.1 | 37.9 | 0.96 |
| Frasers Commercial Trust | Office | SGD | 1.39 | 1,228 | 74.9 | Sep | Quarter | Frasers Commercial Trust | 9.6 | 9.6 | 6.9 | 6.9 | -3.6 | 35.3 | 0.90 |
| IREIT Global | Office | SGD | 0.77 | 481 | 34.4 | Dec | Semi-Anl | IREIT Global | N.A. | N.A. | N.A. | N.A. | 2.4 | 40.5 | 1.14 |
| Keppel REIT | Office | SGD | 1.16 | 3,953 | 53.4 | Dec | Quarter | Keppel REIT | 5.9 | 5.9 | 5.1 | 5.1 | -5.8 | 38.6 | 0.82 |
| Manulife US REIT | Office | USD | 0.89 | 929 | 91.4 | Dec | Semi-Anl | Manulife US REIT | 6.0 | 6.1 | 6.7 | 6.9 | 2.1 | 34.1 | 1.10 |
| OUE Commercial REIT | Office | SGD | 0.70 | 1,083 | 16.9 | Dec | Semi-Anl | OUE Commercial REIT | 4.5 | 4.5 | 6.4 | 6.4 | 0.4 | 40.5 | 0.77 |
| Suntec REIT | Office | SGD | 1.76 | 4,689 | 79.6 | Dec | Quarter | Suntec REIT | 10.0 | 10.0 | 5.7 | 5.7 | -16.1 | 36.6 | 0.84 |
| Keppel-KBS US REIT | Office | USD | 0.88 | 551 | 85.8 | Dec | Semi-Anl | Keppel-KBS US REIT | 6.0 | 6.3 | 6.8 | 7.2 | -3.3 | 33.6 | 1.00 |
| BHG Retail REIT | Retail | SGD | 0.76 | 378 | 67.5 | Dec | Semi-Anl | BHG Retail REIT | N.A. | N.A. | N.A. | N.A. | 5.5 | 33.0 | 0.90 |
| CapitaLand Mall Trust | Retail | SGD | 2.08 | 7,381 | 65.6 | Dec | Quarter | CapitaLand Mall Trust | 11.0 | 11.3 | 5.3 | 5.4 | 0.3 | 33.5 | 1.06 |
| CapitaLand Retail China Trust | Retail | SGD | 1.58 | 1,533 | 62.8 | Dec | Semi-Anl | CapitaLand Retail China Trust | 10.3 | 10.7 | 6.5 | 6.8 | -2.0 | 32.5 | 0.95 |
| Fortune REIT | Retail | HKD | 9.36 | 17,946 | 72.3 | Dec | Semi-Anl | Fortune REIT | 52.1 | 53.3 | 5.6 | 5.7 | 0.0 | 27.4 | 0.67 |
| Frasers Centrepoint Trust | Retail | SGD | 2.20 | 2,037 | 58.0 | Sep | Quarter | Frasers Centrepoint Trust | 12.1 | 12.9 | 5.5 | 5.9 | 0.9 | 29.2 | 1.08 |
| Lippo Malls Indo Retail Trust | Retail | SGD | 0.32 | 898 | 63.5 | Dec | Quarter | Lippo Malls Indo Retail Trust | 2.6 | 2.6 | 8.3 | 8.3 | -17.9 | 35.0 | 1.04 |
| Mapletree Commercial Trust | Retail | SGD | 1.59 | 4,588 | 65.8 | Mar | Quarter | Mapletree Commercial Trust | 9.0 | 9.2 | 5.7 | 5.8 | 0.9 | 34.5 | 1.07 |
| Mapletree Greater China Com | Retail | SGD | 1.17 | 3,681 | 69.0 | Mar | Semi-Anl | Mapletree Greater China Com | 7.7 | 7.8 | 6.6 | 6.7 | -1.2 | 39.1 | 0.87 |
| SPH REIT | Retail | SGD | 0.99 | 2,544 | 25.2 | Aug | Quarter | SPH REIT | 5.6 | 5.7 | 5.7 | 5.8 | -3.2 | 25.4 | 1.05 |
| Starhill Global REIT | Retail | SGD | 0.69 | 1,494 | 62.9 | Jun | Quarter | Starhill Global REIT | 4.8 | 4.9 | 7.0 | 7.2 | -8.8 | 35.3 | 0.74 |
| Sasseur REIT | Retail | SGD | 0.77 | 903 | 23.2 | Dec | Semi-Anl | Sasseur REIT | 6.0 | 6.2 | 7.8 | 8.2 | N.A. | 34.4 | 0.98 |
| AIMS AMP Capital Ind REIT | Industrial | SGD | 1.40 | 957 | 87.3 | Mar | Quarter | AIMS AMP Capital Ind REIT | 11.0 | 11.0 | 7.9 | 7.9 | 5.4 | 33.5 | 1.02 |
| Ascendas REIT | Industrial | SGD | 2.65 | 7,761 | 79.9 | Mar | Semi-Anl | Ascendas REIT | 16.5 | 17.0 | 6.2 | 6.4 | 0.3 | 34.4 | 1.25 |
| Cache Logistics Trust | Industrial | SGD | 0.79 | 846 | 99.5 | Dec | Quarter | Cache Logistics Trust | 6.2 | 6.4 | 7.8 | 8.1 | -4.2 | 38.5 | 1.12 |
| EC World REIT | Industrial | SGD | 0.72 | 567 | 42.2 | Dec | Semi-Anl | EC World REIT | 6.1 | 6.5 | 8.5 | 9.0 | -1.4 | 28.9 | 0.72 |
| ESR-REIT | Industrial | SGD | 0.50 | 784 | 71.8 | Dec | Quarter | ESR-REIT | 3.9 | 4.1 | 7.9 | 8.3 | -8.6 | 30.0 | 0.85 |
| Frasers Logistics & Ind Trust | Industrial | SGD | 1.04 | 1,929 | 77.3 | Sep | Semi-Anl | Frasers Logistics & Ind Trust | 6.9 | 7.1 | 6.6 | 6.8 | -5.9 | 30.5 | 1.14 |
| Mapletree Industrial Trust | Industrial | SGD | 1.96 | 3,696 | 68.3 | Mar | Quarter | Mapletree Industrial Trust | 12.6 | 13.0 | 6.4 | 6.6 | -1.2 | 33.1 | 1.33 |
| Mapletree Logistics Trust | Industrial | SGD | 1.24 | 4,022 | 66.0 | Mar | Quarter | Mapletree Logistics Trust | 7.8 | 7.9 | 6.3 | 6.4 | -2.0 | 37.7 | 1.12 |
| Sabana REIT | Industrial | SGD | 0.44 | 458 | 73.4 | Dec | Quarter | Sabana REIT | N.A. | N.A. | N.A. | N.A. | 14.7 | 38.1 | 0.80 |
| Soilbuild REIT | Industrial | SGD | 0.66 | 696 | 64.3 | Dec | Quarter | Soilbuild REIT | 5.1 | 5.1 | 7.7 | 7.7 | 2.5 | 40.2 | 1.04 |
| Viva Industrial Trust | Industrial | SGD | 0.87 | 847 | 42.3 | Dec | Quarter | Viva Industrial Trust | 6.9 | 6.7 | 7.9 | 7.7 | -3.2 | 40.6 | 1.15 |
| Ascendas Hospitality Trust | Hospitality | SGD | 0.76 | 854 | 64.8 | Mar | Semi-Anl | Ascendas Hospitality Trust | 5.8 | 5.9 | 7.7 | 7.8 | -8.7 | 30.8 | 0.82 |
| Ascott Residence Trust | Hospitality | SGD | 1.10 | 2,376 | 58.6 | Dec | Semi-Anl | Ascott Residence Trust | 7.0 | 7.3 | 6.4 | 6.6 | -7.1 | 36.1 | 0.90 |
| CDL Hospitality Trust | Hospitality | SGD | 1.66 | 1,998 | 62.7 | Dec | Semi-Anl | CDL Hospitality Trust | 9.8 | 10.3 | 5.9 | 6.2 | 1.1 | 33.2 | 1.10 |
| Far East Hospitality Trust | Hospitality | SGD | 0.66 | 1,222 | 40.5 | Dec | Quarter | Far East Hospitality Trust | 4.2 | 4.5 | 6.4 | 6.9 | -6.5 | 35.1 | 0.75 |
| Frasers Hospitality Trust | Hospitality | SGD | 0.71 | 1,327 | 38.9 | Sep | Semi-Anl | Frasers Hospitality Trust | 5.0 | 5.2 | 7.0 | 7.3 | -6.5 | 33.1 | 0.89 |
| OUE Hospitality Trust | Hospitality | SGD | 0.80 | 1,455 | 51.6 | Dec | Quarter | OUE Hospitality Trust | 5.1 | 5.5 | 6.4 | 6.9 | -3.0 | 38.7 | 1.05 |
| First REIT | Healthcare | SGD | 1.36 | 1,068 | 67.1 | Dec | Quarter | First REIT | 8.8 | 9.0 | 6.5 | 6.6 | 0.9 | 34.1 | 1.34 |
| ParkwayLife REIT | Healthcare | SGD | 2.70 | 1,634 | 54.3 | Dec | Quarter | ParkwayLife REIT | 12.8 | 12.8 | 4.7 | 4.7 | -7.6 | 38.0 | 1.54 |
| Keppel DC REIT | Data centre | SGD | 1.39 | 1,878 | 70.5 | Dec | Semi-Anl | Keppel DC REIT | 7.8 | 8.1 | 5.6 | 5.8 | 1.6 | 37.4 | 1.45 |
| Cromwell European REIT | Others | EUR | 0.59 | 921 | 27.9 | Dec | Semi-Anl | Cromwell European REIT | 4.3 | 4.4 | 7.4 | 7.5 | 5.4 | 35.1 | 1.05 |
| Accordia Golf trust | Real estate trust | SGD | 0.60 | 654 | 71.1 | Mar | Semi-Anl | Accordia Golf trust | 4.5 | 5.0 | 7.6 | 8.3 | -9.9 | 24.7 | 0.67 |
| Ascendas India Trust | Real estate trust | SGD | 1.06 | 1,098 | 71.7 | Mar | Semi-Anl | Ascendas India Trust | 6.5 | 6.8 | 6.1 | 6.4 | -4.9 | 26.4 | 1.17 |
| Dasin Retail Trust | Real estate trust | SGD | 0.87 | 482 | 29.6 | Dec | Semi-Anl | Dasin Retail Trust | 0.1 | 0.1 | 0.1 | 0.1 | 3.6 | 30.4 | 0.56 |
| Asian Pay Television Trust | Infrastructure trust | SGD | 0.44 | 625 | 99.9 | Dec | Quarter | Asian Pay Television Trust | 6.5 | 6.5 | 14.9 | 14.9 | -24.1 | 50.8 | 0.54 |
| Keppel Infra Trust | Infrastructure trust | SGD | 0.52 | 1,987 | 56.0 | Mar | Quarter | Keppel Infra Trust | 3.9 | 3.9 | 7.6 | 7.6 | -7.4 | 40.1 | 1.74 |
| Netlink NBN Trust | Infrastructure trust | SGD | 0.78 | 3,040 | 75.0 | Mar | Semi-Anl | Netlink NBN Trust | 4.8 | 4.8 | 6.2 | 6.2 | -2.8 | 13.5 | 0.96 |
| First Ship Lease Trust | Port and shipping trust | SGD | 0.08 | 51 | 74.7 | Dec | Irreg | First Ship Lease Trust | N.A. | N.A. | N.A. | N.A. | -11.1 | 40.9 | 0.22 |
| Hutchison Port Holdings | Port and shipping trust | USD | 0.32 | 2,744 | 72.3 | Dec | Semi-Anl | Hutchison Port Holdings | 2.6 | 2.7 | 8.3 | 8.4 | -20.9 | 29.5 | 0.54 |
| RHT Health Trust | Healthcare trust | SGD | 0.77 | 623 | 63.4 | Mar | Irreg | RHT Health Trust | 5.6 | 6.4 | 7.3 | 8.3 | -5.6 | 29.3 | 0.94 |
Updated: 19th June 2018
PropertyInvestSG shall not be held liable for errors or omissions in the data.
1) SGD/JPY = 0.012202; SGD/USD = 1.3351; SGD/HKD = 0.1702; USD/HKD = 0.12745; SGD/EUR = 1.5734; SGD/AUD = 1.0148; CNY/SGD = 4.7979
2) Curr/Fwd DPU and yield are based on Bloomberg consensus forecasts for the current/next financial year
3) D/A (Debt-to-Asset) and P/B (Price-to-Book) are based on figures reported in latest available financial results
4) YTD return includes dividends distributed
5) Mapletree Greater China Commercial Trust has changed its name to Mapletree North Asia Commercial Trust with effect from 25 May 2018
6) Keppel-KBS US REIT’s Curr DPU and Fwd DPU are based on its prospectus’ FY18 and FY19 forecasted figures, respectively.
7) Cromwell European REIT’s Curr DPU and Fwd DPU are based on its prospectus’ FY18 and FY19 forecasted figures, respectively.
8) Sasseur REIT’s Curr DPU is for FY18, based on the annualised DPU for the Forecast Period 2018 (with Entrusted Management Agreements) as stated in the prospectus.
Fwd DPU is calculated from the prospectus’ FY19 forecasted yield. D/A and P/B calculations are based on pro forma figures as at listing date.