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/NREIT nameSectorCurrencyShare priceMkt capFloatFYEDPU frequencyREIT nameCurrent DPUFwd DPUCurrent yieldFwd yieldYTD returnGearingP/B
1CapitaLand Commercial TrustOfficeSGD2.17,98171DecSemi-AnlCapitaLand Commercial Trust8.99.04.34.324351.1
2Frasers Commercial TrustOfficeSGD1.61,45274SepQuarterFrasers Commercial Trust9.79.86.16.122291.0
3IREIT GlobalOfficeSGD0.847744DecSemi-AnlIREIT GlobalN.A.N.A.N.A.N.A.12361.0
4Keppel REITOfficeSGD1.24,21252DecQuarterKeppel REIT5.75.94.64.813380.9
5Manulife US REITOfficeUSD0.91,25191DecSemi-AnlManulife US REIT6.06.26.76.925371.1
6OUE Commercial REITOfficeSGD0.51,50621DecSemi-AnlOUE Commercial REIT3.43.46.56.521390.7
7Suntec REITOfficeSGD1.95,34463DecQuarterSuntec REIT9.79.85.15.112380.9
8Keppel-KBS US REITOfficeUSD0.864376DecSemi-AnlKeppel-KBS US REIT6.06.17.77.838381.0
9Prime US REITOfficeUSD0.983275DecSemi-AnlPrime US REITN.A.N.A.N.A.N.A.N.A.371.1
10BHG Retail REITRetailSGD0.735468DecSemi-AnlBHG Retail REITN.A.N.A.N.A.N.A.1370.8
11CapitaLand Mall TrustRetailSGD2.69,73867DecQuarterCapitaLand Mall Trust12.012.74.54.820341.3
12CapitaLand Retail China TrustRetailSGD1.51,70066DecSemi-AnlCapitaLand Retail China Trust10.210.46.66.822340.9
13Fortune REITRetailHKD9.317,98673DecSemi-AnlFortune REIT52.855.35.75.910210.6
14Frasers Centrepoint TrustRetailSGD2.72,99164SepQuarterFrasers Centrepoint Trust12.312.94.64.828241.3
15Lippo Malls Indo Retail TrustRetailSGD0.265163DecQuarterLippo Malls Indo Retail TrustN.A.N.A.N.A.N.A.32340.8
16Mapletree Commercial TrustRetailSGD2.16,16866MarQuarterMapletree Commercial Trust9.29.64.34.534331.3
17Mapletree North Asia ComRetailSGD1.34,16866MarQuarterMapletree North Asia Com7.98.16.06.220370.9
18SPH REITRetailSGD1.12,79825AugQuarterSPH REIT5.75.85.35.412301.2
19Starhill Global REITRetailSGD0.81,66963JunQuarterStarhill Global REIT4.74.76.16.118360.9
20Sasseur REITRetailSGD0.894722DecSemi-AnlSasseur REIT6.56.88.28.634300.9
21AIMS APAC REITIndustrialSGD1.499461MarQuarterAIMS APAC REIT10.310.57.27.314341.1
22Ascendas REITIndustrialSGD3.19,52580MarSemi-AnlAscendas REIT16.316.85.35.522371.5
23Cache Logistics TrustIndustrialSGD0.778390DecQuarterCache Logistics Trust6.06.08.38.311381.1
24EC World REITIndustrialSGD0.759350DecQuarterEC World REIT6.36.68.58.912320.9
25ESR-REITIndustrialSGD0.51,75960DecQuarterESR-REIT3.93.97.57.58391.1
26Frasers Logistics & Ind TrustIndustrialSGD1.22,72169SepSemi-AnlFrasers Logistics & Ind Trust6.97.05.75.824351.3
27Mapletree Industrial TrustIndustrialSGD2.34,61568MarQuarterMapletree Industrial Trust12.612.95.55.725331.5
28Mapletree Logistics TrustIndustrialSGD1.55,60668MarQuarterMapletree Logistics Trust8.18.35.35.427371.3
29Sabana REITIndustrialSGD0.547471DecQuarterSabana REITN.A.N.A.N.A.N.A.21310.8
30Soilbuild REITIndustrialSGD0.558165DecQuarterSoilbuild REIT5.04.89.28.80390.9
31ARA US Hospitality TrustHospitalityUSD0.948743DecSemi-AnlARA US Hospitality Trust4.77.2N.A.N.A.N.A.321.0
32Ascendas Hospitality TrustHospitalitySGD1.11,21792MarSemi-AnlAscendas Hospitality Trust5.85.85.45.444341.1
33Ascott Residence TrustHospitalitySGD1.32,83055DecSemi-AnlAscott Residence Trust7.27.45.55.728331.0
34CDL Hospitality TrustsHospitalitySGD1.61,93962DecSemi-AnlCDL Hospitality Trusts9.19.55.75.916351.1
35Eagle Hospitality TrustHospitalityUSD0.759536DecSemi-AnlEagle Hospitality Trust5.36.67.79.6N.A.380.8
36Far East Hospitality TrustHospitalitySGD0.71,25940DecQuarterFar East Hospitality Trust4.04.26.16.413400.8
37Frasers Hospitality TrustHospitalitySGD0.71,32638SepSemi-AnlFrasers Hospitality Trust4.54.66.46.63351.0
38OUE Hospitality TrustHospitalitySGD0.71,34151DecQuarterOUE Hospitality Trust5.15.27.07.114381.0
39First REITHealthcareSGD1.081160DecQuarterFirst REIT8.88.98.68.710351.0
40ParkwayLife REITHealthcareSGD3.01,83364DecQuarterParkwayLife REIT13.013.34.34.419371.6
41Keppel DC REITData centreSGD1.72,35375DecSemi-AnlKeppel DC REIT8.08.14.64.735321.6
42Cromwell European REITOthersEUR0.51,24444DecSemi-AnlCromwell European REIT4.14.18.48.420350.9
43Accordia Golf TrustReal estate trustSGD0.559471MarSemi-AnlAccordia Golf Trust5.65.710.410.511250.7
44Ascendas India TrustReal estate trustSGD1.41,50271MarSemi-AnlAscendas India Trust7.69.25.36.437331.5
45Dasin Retail TrustReal estate trustSGD0.847222DecSemi-AnlDasin Retail Trust7.07.38.38.75330.6
46Asian Pay Television TrustInfrastructure trustSGD0.224999DecQuarterAsian Pay Television Trust1.21.27.07.041540.2
47Keppel Infrastructure TrustInfrastructure trustSGD0.52,33860DecQuarterKeppel Infrastructure Trust3.93.97.67.614341.8
48NetLink NBN TrustInfrastructure trustSGD0.93,46875MarSemi-AnlNetLink NBN Trust4.95.25.55.820151.2
49First Ship Lease TrustPort and shipping trustSGD0.110327DecIrregFirst Ship Lease TrustN.A.N.A.N.A.N.A.29320.4
50Hutchison Port HoldingsPort and shipping trustUSD0.21,45572DecSemi-AnlHutchison Port Holdings1.71.810.210.5-26330.4
51RHT Health TrustHealthcare trustSGD0.01550MarIrregRHT Health TrustN.A.N.A.N.A.N.A.9800.8

Updated: 20th October 2019

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

1) SGD/JPY = 0.013232; SGD/USD = 1.3902; SGD/HKD = 0.1773; USD/HKD = 0.1275; SGD/EUR = 1.5493; SGD/AUD = 0.934; CNY/SGD = 5.1201
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) AIMS AMP Capital Industrial REIT has changed its name to AIMS APAC REIT with effect from 11 Apr 2019
6) US Prime REIT’s D/A and NAV/share (used in P/B calculation) is as per its prospectus

REIT Market cap

Total REIT market cap stands at S$105b. Among the REITs, office has a market cap of S$24.8b, retail S$34.4b, industrial S$27.6b, hospitality S$11.4b, healthcare S$2.6b, data centres S$2.4b and others S$1.9b.

Number of REITs

There are 9 office REITs, 11 retail REITs, 10 industrial REITs, 8 hospitality REITs, 2 healthcare REITs, 1 data centre REIT and 1 REIT in the Others category, for a total of 42 REITs.

REIT currencies

There are 35 SGD denominated REITs, 5 USD denominated REITs, 1 EUR denominated REIT and 1 HKD denominated REIT.

REIT financial year end

29 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

20 REITs pay distributions on a semi-annual basis while 22 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 CapitaLand Commercial Trust at 4.3%.
The REIT with the highest yield is Soilbuild REIT at 9.2%.

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-KBS US REIT at 7.7%.

The average yield for retail REITs is 5.7%.
The retail REIT with the lowest yield is Lippo Malls Indo Retail Trust at 4.3%.
The retail REIT with the highest yield is Starhill Global REIT at 8.2%.

The average yield for industrial REITs is 6.9%.
The industrial REIT with the lowest yield is AIMS APAC REIT at 5.3%.
The industrial REIT with the highest yield is Sabana REIT at 9.2%.

The average yield for hospitality REITs is 6.3%.
The hospitality REIT with the lowest yield is ARA US Hospitality Trust at 5.4%.
The hospitality REIT with the highest yield is CDL Hospitality Trusts at 7.7%.

There are only 2 healthcare REITS, First REIT and Parkway Life REIT.
First REIT has a yield of 8.6% while Parkway Life REIT has a yield of 4.3%.

There is only 1 data centre REIT, Keppel DC REIT, which has a yield of 4.6%.

There is only 1 REIT in the Others category, Cromwell European REIT, which has a yield of 8.4%.

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 6.4%.
The REIT with the lowest forward yield is CapitaLand Commercial Trust at 4.3%.
The REIT with the highest forward yield is Ascott Residence Trust at 9.6%.

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

The average forward yield for retail REITs is 5.9%.
The retail REIT with the lowest forward yield is Lippo Malls Indo Retail Trust at 4.5%.
The retail REIT with the highest forward yield is Starhill Global REIT at 8.6%.

The average forward yield for industrial REITs is 7.0%.
The industrial REIT with the lowest forward yield is Mapletree Industrial Trust at 5.4%.
The industrial REIT with the highest forward yield is Cache Logistics Trust at 8.9%.

The average forward yield for hospitality REITs is 6.7%.
The hospitality REIT with the lowest forward yield is ARA US Hospitality Trust at 5.4%.
The hospitality REIT with the highest forward yield is CDL Hospitality Trusts at 9.6%.

There are only 2 healthcare REITS, First REIT and Parkway Life REIT.
First REIT has a forward yield of 8.7% while Parkway Life REIT has a forward yield of 4.4%.

There is only 1 data centre REIT, Keppel DC REIT, which has a forward yield of 4.7%.

There is only 1 REIT in the Others category, Cromwell European REIT, which has a forward yield of 8.4%.

REIT year to date returns

The average YTD return for all REITs is 19.6%.
The REIT with the lowest YTD return is Soilbuild REIT at 0.1%.
The REIT with the highest YTD return is Ascendas Hospitality Trust at 43.9%.

The average YTD return for office REITs is 20.7%.
The office REIT with the lowest YTD return is IREIT Global at 11.6%.
The office REIT with the highest YTD return is Keppel-KBS US REIT at 37.5%.

The average YTD return for retail REITs is 21.1%.
The retail REIT with the lowest YTD return is Prime US REIT at 1.3%.
The retail REIT with the highest YTD return is Lippo Malls Indo Retail Trust at 33.9%.

The average YTD return for industrial REITs is 16.3%.
The industrial REIT with the lowest YTD return is Sabana REIT at 0.1%.
The industrial REIT with the highest YTD return is Mapletree Industrial Trust at 27.4%.

The average YTD return for hospitality REITs is 19.7%.
The hospitality REIT with the lowest YTD return is Far East Hospitality Trust at 3.1%.
The hospitality REIT with the highest YTD return is ARA US Hospitality Trust at 43.9%.

There are only 2 healthcare REITS, First REIT and Parkway Life REIT.
First REIT has a YTD return of 10.3% while Parkway Life REIT has a YTD return of 19.2%.

There is only 1 data centre REIT, Keppel DC REIT, which has a YTD return of 35.2%.

There is only 1 REIT in the Others category, Cromwell European REIT, which has a YTD return of 19.8%.

REIT gearing

The average gearing for all REITs is 34.7%.
The REIT with the lowest gearing is Fortune REIT at 20.9%.
The REIT with the highest gearing is Far East Hospitality Trust at 39.8%.

The average gearing for office REITs is 36.5%.
The office REIT with the lowest gearing is Frasers Commercial Trust at 29.3%.
The office REIT with the highest gearing is OUE Commercial REIT at 39.3%.

The average gearing for retail REITs is 31.7%.
The retail REIT with the lowest gearing is CapitaLand Retail China Trust at 20.9%.
The retail REIT with the highest gearing is Prime US REIT at 37%.

The average gearing for industrial REITs is 35.6%.
The industrial REIT with the lowest gearing is Mapletree Logistics Trust at 30.9%.
The industrial REIT with the highest gearing is Sabana REIT at 39.4%.

The average gearing for hospitality REITs is 35.6%.
The hospitality REIT with the lowest gearing is Soilbuild REIT at 31.9%.
The hospitality REIT with the highest gearing is Eagle Hospitality Trust at 39.8%.

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 36.9%.

There is only 1 data centre REIT, Keppel DC REIT, which has a gearing of 31.9%.

There is only 1 REIT in the Others category, Cromwell European REIT, which has a gearing of 35.4%.

REIT Price to Book or Price to NAV ratio

The average Price to Book value for all REITs is 1.05.
The REIT with the lowest Price to Book value is Fortune REIT at 0.56.
The REIT with the highest Price to Book value is Keppel DC REIT at 1.64.

The average Price to Book value for office REITs is 0.99.
The office REIT with the lowest Price to Book value is OUE Commercial REIT at 0.74.
The office REIT with the highest Price to Book value is CapitaLand Commercial Trust at 1.12.

The average Price to Book value for retail REITs is 0.98.
The retail REIT with the lowest Price to Book value is CapitaLand Retail China Trust at 0.56.
The retail REIT with the highest Price to Book value is Lippo Malls Indo Retail Trust at 1.33.

The average Price to Book value for industrial REITs is 1.15.
The industrial REIT with the lowest Price to Book value is Mapletree Logistics Trust at 0.8.
The industrial REIT with the highest Price to Book value is Frasers Logistics & Ind Trust at 1.52.

The average Price to Book value for hospitality REITs is 0.95.
The hospitality REIT with the lowest Price to Book value is Eagle Hospitality Trust at 0.76.
The hospitality REIT with the highest Price to Book value is ARA US Hospitality Trust at 1.08.

There are only 2 healthcare REITS, First REIT and Parkway Life REIT.
First REIT has a Price to Book value of 1 while Parkway Life REIT has a Price to Book value of 1.62.

There is only 1 data centre REIT, Keppel DC REIT, which has a Price to Book value of 1.64.

There is only 1 REIT in the Others category, Cromwell European REIT, which has a Price to Book value of 0.94.