REIT Data, yields, gearing, P/B ratios, total returns and more

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.

S/N	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
1	CapitaLand Commercial Trust	Office	SGD	2.06	7,947	71	Dec	Semi-Anl	CapitaLand Commercial Trust	8.9	9.3	4.3	4.5	5	35.1	1.1
2	Frasers Commercial Trust	Office	SGD	1.63	1,491	74	Sep	Quarter	Frasers Commercial Trust	9.9	10.0	6.1	6.1	0	29.0	1.0
3	IREIT Global	Office	SGD	0.83	529	44	Dec	Semi-Anl	IREIT Global	5.5	5.6	6.6	6.7	3	36.5	1.1
4	Keppel REIT	Office	SGD	1.21	4,074	56	Dec	Quarter	Keppel REIT	5.8	6.0	4.8	5.0	-1	35.8	0.9
5	Manulife US REIT	Office	USD	1.06	1,663	93	Dec	Semi-Anl	Manulife US REIT	6.0	6.2	5.7	5.8	6	36.3	1.4
6	OUE Commercial REIT	Office	SGD	0.55	2,935	27	Dec	Semi-Anl	OUE Commercial REIT	3.3	3.4	6.1	6.2	-4	40.3	0.9
7	Suntec REIT	Office	SGD	1.84	5,173	63	Dec	Quarter	Suntec REIT	9.7	9.8	5.3	5.3	1	37.7	0.9
8	Keppel Pacific Oak US REIT	Office	USD	0.79	738	79	Dec	Semi-Anl	Keppel Pacific Oak US REIT	6.2	6.2	7.8	7.8	3	36.9	1.0
9	Prime US REIT	Office	USD	1.01	934	75	Dec	Semi-Anl	Prime US REIT	6.6	6.8	6.5	6.7	5	33.9	1.2
10	BHG Retail REIT	Retail	SGD	0.66	333	68	Dec	Semi-Anl	BHG Retail REIT	N.A.	N.A.	N.A.	N.A.	-4	37.5	0.8
11	CapitaLand Mall Trust	Retail	SGD	2.52	9,296	65	Dec	Quarter	CapitaLand Mall Trust	12.7	12.9	5.0	5.1	4	32.9	1.2
12	CapitaLand Retail China Trust	Retail	SGD	1.55	1,874	65	Dec	Semi-Anl	CapitaLand Retail China Trust	10.3	10.2	6.6	6.6	-4	37.2	1.0
13	Frasers Centrepoint Trust	Retail	SGD	2.88	3,224	64	Sep	Quarter	Frasers Centrepoint Trust	13.0	13.3	4.5	4.6	4	33.2	1.3
14	Lendlease Global Comm. REIT	Retail	SGD	0.92	1,075	72	Jun	Semi-Anl	Lendlease Global Comm. REIT	5.2	5.4	5.7	5.9	-1	36.4	1.1
15	Lippo Malls Indo Retail Trust	Retail	SGD	0.22	622	63	Dec	Quarter	Lippo Malls Indo Retail Trust	N.A.	N.A.	N.A.	N.A.	-4	34.7	0.7
16	Mapletree Commercial Trust	Retail	SGD	2.35	7,770	66	Mar	Quarter	Mapletree Commercial Trust	9.5	9.9	4.0	4.2	-1	33.4	1.3
17	Mapletree North Asia Com	Retail	SGD	1.19	3,801	66	Mar	Quarter	Mapletree North Asia Com	7.0	7.4	5.9	6.2	4	37.1	0.9
18	SPH REIT	Retail	SGD	1.06	2,923	29	Aug	Quarter	SPH REIT	5.7	6.0	5.4	5.7	-1	26.8	1.1
19	Starhill Global REIT	Retail	SGD	0.74	1,605	54	Jun	Quarter	Starhill Global REIT	4.6	4.6	6.3	6.3	1	36.3	0.8
20	Sasseur REIT	Retail	SGD	0.80	951	21	Dec	Semi-Anl	Sasseur REIT	6.6	6.9	8.3	8.7	-10	29.0	0.9
21	AIMS APAC REIT	Industrial	SGD	1.46	1,027	86	Mar	Quarter	AIMS APAC REIT	10.3	10.7	7.1	7.3	2	35.2	1.1
22	Ascendas REIT	Industrial	SGD	3.15	11,397	80	Mar	Semi-Anl	Ascendas REIT	16.0	16.8	5.1	5.3	6	35.1	1.5
23	Cache Logistics Trust	Industrial	SGD	0.70	759	90	Dec	Quarter	Cache Logistics Trust	5.6	5.7	8.0	8.1	0	38.3	1.2
24	EC World REIT	Industrial	SGD	0.72	577	52	Dec	Quarter	EC World REIT	6.3	6.5	8.8	9.0	-3	39.6	0.9
25	ESR-REIT	Industrial	SGD	0.55	1,901	61	Dec	Quarter	ESR-REIT	4.4	4.0	8.1	7.3	4	41.5	1.3
26	Frasers Logistics & Ind Trust	Industrial	SGD	1.22	2,756	69	Sep	Semi-Anl	Frasers Logistics & Ind Trust	7.5	7.6	6.1	6.2	-2	33.4	1.3
27	Mapletree Industrial Trust	Industrial	SGD	2.78	6,118	73	Mar	Quarter	Mapletree Industrial Trust	12.6	13.2	4.5	4.7	8	34.1	1.8
28	Mapletree Logistics Trust	Industrial	SGD	1.84	6,987	71	Mar	Quarter	Mapletree Logistics Trust	8.1	8.5	4.4	4.6	7	37.5	1.6
29	Sabana REIT	Industrial	SGD	0.47	490	72	Dec	Quarter	Sabana REIT	2.9	3.0	6.2	6.5	3	31.1	0.8
30	Soilbuild REIT	Industrial	SGD	0.51	637	69	Dec	Quarter	Soilbuild REIT	4.5	4.6	8.9	9.1	-1	38.2	0.9
31	ARA US Hospitality Trust	Hospitality	USD	0.85	482	43	Dec	Semi-Anl	ARA US Hospitality Trust	4.4	6.8	N.M.	8.0	-2	31.8	1.0
32	Ascott Residence Trust	Hospitality	SGD	1.26	3,885	60	Dec	Semi-Anl	Ascott Residence Trust	7.5	7.9	6.0	6.3	-2	33.6	1.0
33	CDL Hospitality Trusts	Hospitality	SGD	1.56	1,892	62	Dec	Semi-Anl	CDL Hospitality Trusts	9.2	9.4	5.9	6.0	-4	35.4	1.0
34	Eagle Hospitality Trust	Hospitality	USD	0.50	435	52	Dec	Semi-Anl	Eagle Hospitality Trust	4.7	6.4	9.4	12.8	-8	37.3	0.6
35	Far East Hospitality Trust	Hospitality	SGD	0.68	1,323	41	Dec	Quarter	Far East Hospitality Trust	4.0	4.2	5.9	6.2	-8	39.6	0.8
36	Frasers Hospitality Trust	Hospitality	SGD	0.69	1,318	38	Sep	Semi-Anl	Frasers Hospitality Trust	4.5	4.6	6.5	6.7	-3	35.5	1.0
37	First REIT	Healthcare	SGD	1.01	808	73	Dec	Quarter	First REIT	8.5	8.4	8.4	8.3	2	34.5	1.0
38	ParkwayLife REIT	Healthcare	SGD	3.58	2,166	64	Dec	Quarter	ParkwayLife REIT	13.7	14.0	3.8	3.9	9	37.1	1.8
39	Keppel DC REIT	Data centre	SGD	2.26	3,689	77	Dec	Semi-Anl	Keppel DC REIT	9.0	9.6	4.0	4.2	10	30.7	2.0
40	Cromwell European REIT	Others	EUR	0.55	1,389	46	Dec	Semi-Anl	Cromwell European REIT	4.1	4.0	7.5	7.3	1	37.0	1.1
41	Accordia Golf Trust	Real estate trust	SGD	0.66	725	71	Mar	Semi-Anl	Accordia Golf Trust	5.4	5.6	8.1	8.5	-2	25.0	0.9
42	Ascendas India Trust	Real estate trust	SGD	1.58	1,806	90	Mar	Semi-Anl	Ascendas India Trust	7.7	9.3	4.9	5.9	2	28.8	1.5
43	Dasin Retail Trust	Real estate trust	SGD	0.84	540	36	Dec	Semi-Anl	Dasin Retail Trust	7.0	7.0	8.4	8.4	0	36.4	0.6
44	Asian Pay Television Trust	Infrastructure trust	SGD	0.17	242	99	Dec	Quarter	Asian Pay Television Trust	1.2	1.2	7.2	7.2	-1	54.0	0.2
45	Keppel Infrastructure Trust	Infrastructure trust	SGD	0.53	2,622	71	Dec	Quarter	Keppel Infrastructure Trust	3.9	3.9	7.4	7.4	-1	42.2	1.5
46	NetLink NBN Trust	Infrastructure trust	SGD	1.01	3,936	75	Mar	Semi-Anl	NetLink NBN Trust	5.0	5.2	5.0	5.1	7	14.9	1.3
47	First Ship Lease Trust	Port and shipping trust	SGD	0.07	131	27	Dec	Irreg	First Ship Lease Trust	N.A.	N.A.	N.A.	N.A.	1	27.1	0.5
48	Hutchison Port Holdings	Port and shipping trust	USD	0.16	1,394	72	Dec	Semi-Anl	Hutchison Port Holdings	1.5	1.6	9.5	9.7	-7	33.2	0.4
49	RHT Health Trust	Healthcare trust	SGD	N.A.	N.A.	N.A.	Mar	Irreg	RHT Health Trust	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.

Updated week of 3 Feb

1) SGD/JPY = 0.012587; SGD/USD = 1.3649; SGD/HKD = 0.1757; USD/HKD = 0.12876; SGD/EUR = 1.5132; SGD/AUD = 0.9136; CNY/SGD = 5.0636
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) Keppel-KBS US REIT has changed its name to Keppel Pacific Oak US REIT with effect from 5 Sep 2019
6) Lendlease Global Commercial REIT’s D/A and NAV/share (used in P/B calculation) are as per its prospectus

PropertyInvestSG shall not be held liable for errors or omissions in the data.

REIT Market cap

Total REIT market cap stands at S$111b. Among the REITs, office has a market cap of S$26.7b, retail S$33.5b, industrial S$32.6b, hospitality S$9.7b, healthcare S$3.0b, data centres S$3.7b and others S$2.1b.

Number of REITs

There are 9 office REITs, 11 retail REITs, 10 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 35 SGD denominated REITs and 5 USD denominated REITs.

REIT financial year end

27 REITs have Financial Years Ending in December, 6 REITs have Financial Years Ending in March, 4 REITs have Financial Years Ending in September, 2 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 6.2%.
The REIT with the lowest yield is ParkwayLife REIT at 3.8%.
The REIT with the highest yield is Eagle Hospitality Trust at 9.4%.

The average yield for office REITs is 5.9%.
The office REIT with the lowest yield is CapitaLand Commercial Trust at 4.3%.
The office REIT with the highest yield is Keppel Pacific Oak US REIT at 7.8%.

The average yield for retail REITs is 5.7%.
The retail REIT with the lowest yield is Mapletree Commercial Trust at 4%.
The retail REIT with the highest yield is Sasseur REIT at 8.3%.

The average yield for industrial REITs is 6.7%.
The industrial REIT with the lowest yield is Mapletree Logistics Trust at 4.4%.
The industrial REIT with the highest yield is Soilbuild REIT at 8.9%.

The average yield for hospitality REITs is 6.7%.
The hospitality REIT with the lowest forward yield is CDL Hospitality Trusts at 5.9%.
The hospitality REIT with the highest yield is Eagle Hospitality Trust at 9.4%.

There are only 2 healthcare REITS, First REIT and Parkway Life REIT.
First REIT has a yield of 8.4% while Parkway Life REIT has a yield of 3.8%.

There is only 1 data centre REIT, Keppel DC REIT, which has a yield of 4%.

There is only 1 REIT in the Others category, Cromwell European REIT, which has a yield of 7.5%.

REIT forward dividend/distribution yields

The average forward yield for all REITs is 6.5%.
The REIT with the lowest forward yield is ParkwayLife REIT at 3.9%.
The REIT with the highest forward yield is Eagle Hospitality Trust at 12.8%.

The average forward yield for office REITs is 6.0%.
The office REIT with the lowest forward yield is CapitaLand Commercial Trust at 4.5%.
The office REIT with the highest forward yield is Keppel Pacific Oak US REIT at 7.8%.

The average forward yield for retail REITs is 5.9%.
The retail REIT with the lowest forward yield is Mapletree Commercial Trust at 4.2%.
The retail REIT with the highest forward yield is Sasseur REIT at 8.7%.

The average forward yield for industrial REITs is 6.8%.
The industrial REIT with the lowest forward yield is Mapletree Logistics Trust at 4.6%.
The industrial REIT with the highest forward yield is Soilbuild REIT at 9.1%.

The average forward yield for hospitality REITs is 7.7%.
The hospitality REIT with the lowest forward yield is CDL Hospitality Trusts at 6%.
The hospitality REIT with the highest forward yield is Eagle Hospitality Trust at 12.8%.

There are only 2 healthcare REITS, First REIT and Parkway Life REIT.
First REIT has a forward yield of 8.3% while Parkway Life REIT has a forward yield of 3.9%.

There is only 1 data centre REIT, Keppel DC REIT, which has a forward yield of 4.2%.

There is only 1 REIT in the Others category, Cromwell European REIT, which has a forward yield of 7.3%.

REIT year to date returns

The average YTD return for all REITs is 0.5%.
The REIT with the lowest YTD return is Sasseur REIT at -10.2%.
The REIT with the highest YTD return is Keppel DC REIT at 9.6%.

The average YTD return for office REITs is 1.9%.
The office REIT with the lowest YTD return is OUE Commercial REIT at -3.5%.
The office REIT with the highest YTD return is Manulife US REIT at 6%.

The average YTD return for retail REITs is -1.2%.
The retail REIT with the lowest YTD return is Sasseur REIT at -10.2%.
The retail REIT with the highest YTD return is Mapletree North Asia Com at 4%.

The average YTD return for industrial REITs is 2.4%.
The industrial REIT with the lowest YTD return is EC World REIT at -3.4%.
The industrial REIT with the highest YTD return is Mapletree Industrial Trust at 8.2%.

The average YTD return for hospitality REITs is -4.6%.
The hospitality REIT with the lowest YTD return is Eagle Hospitality Trust at -8.3%.
The hospitality REIT with the highest YTD return is ARA US Hospitality Trust at -2.3%.

There are only 2 healthcare REITS, First REIT and Parkway Life REIT.
First REIT has a YTD return of 1.5% while Parkway Life REIT has a YTD return of 8.8%.

There is only 1 data centre REIT, Keppel DC REIT, which has a YTD return of 9.6%.

There is only 1 REIT in the Others category, Cromwell European REIT, which has a YTD return of 0.9%.

REIT gearing

The average gearing for all REITs is 35.3%.
The REIT with the lowest gearing is SPH REIT at 26.8%.
The REIT with the highest gearing is ESR-REIT at 41.5%.

The average gearing for office REITs is 35.7%.
The office REIT with the lowest gearing is Frasers Commercial Trust at 29%.
The office REIT with the highest gearing is OUE Commercial REIT at 40.3%.

The average gearing for retail REITs is 34.0%.
The retail REIT with the lowest gearing is SPH REIT at 26.8%.
The retail REIT with the highest gearing is BHG Retail REIT at 37.5%.

The average gearing for industrial REITs is 36.4%.
The industrial REIT with the lowest gearing is Sabana REIT at 31.1%.
The industrial REIT with the highest gearing is ESR-REIT at 41.5%.

The average gearing for hospitality REITs is 35.5%.
The hospitality REIT with the lowest gearing is ARA US Hospitality Trust at 31.8%.
The hospitality REIT with the highest gearing is Far East Hospitality Trust at 39.6%.

There are only 2 healthcare REITS, First REIT and Parkway Life REIT.
First REIT has a gearing of 34.5% while Parkway Life REIT has a gearing of 37.1%.

There is only 1 data centre REIT, Keppel DC REIT, which has a gearing of 30.7%.

There is only 1 REIT in the Others category, Cromwell European REIT, which has a gearing of 37%.

REIT Price to Book or Price to NAV ratio

The average Price to Book value for all REITs is 1.10.
The REIT with the lowest Price to Book value is Eagle Hospitality Trust at 0.56.
The REIT with the highest Price to Book value is Keppel DC REIT at 1.97.

The average Price to Book value for office REITs is 1.04.
The office REIT with the lowest Price to Book value is Suntec REIT at 0.87.
The office REIT with the highest Price to Book value is Manulife US REIT at 1.35.

The average Price to Book value for retail REITs is 1.02.
The retail REIT with the lowest Price to Book value is Lippo Malls Indo Retail Trust at 0.69.
The retail REIT with the highest Price to Book value is Mapletree Commercial Trust at 1.34.

The average Price to Book value for industrial REITs is 1.21.
The industrial REIT with the lowest Price to Book value is Sabana REIT at 0.82.
The industrial REIT with the highest Price to Book value is Mapletree Industrial Trust at 1.76.

The average Price to Book value for hospitality REITs is 0.88.
The hospitality REIT with the lowest Price to Book value is Eagle Hospitality Trust at 0.56.
The hospitality REIT with the highest Price to Book value is CDL Hospitality Trusts at 1.02.

There are only 2 healthcare REITS, First REIT and Parkway Life REIT.
First REIT has a Price to Book value of 1.01 while Parkway Life REIT has a Price to Book value of 1.83.

There is only 1 data centre REIT, Keppel DC REIT, which has a Price to Book value of 1.97.

There is only 1 REIT in the Others category, Cromwell European REIT, which has a Price to Book value of 1.08.