Singapore REIT data

REIT data including dividend yields, share price, price-to-book and debt-to-assets

This page gives your a summary of important metrics for the Singapore REIT sector, namely dividend yields, price-to-book values and debt to assets.

There are a total of 38 REITs in the Singapore market (excluding Eagle Hospitality Trust).

Dividend yields are important because it gives income investors an idea of how much their investment can yield per year/month. A higher value is usually better, but not always the csae.

Price-to-book values is important because it gives investors an idea of whether the REIT is under or over-valued. Generally, values under 1 indicate the REIT is under-valued, while values above 1 indicate the REIT is over-valued. However, this is not always the case, as under-valued REITs could be structurally challenged, resulting in the price-to-book value below 1. Whereas REITs that have a strong outlook (but not yet overpriced) could have a price-to-book value above 1.

Debt to assets is important because it gives investors an idea of whether the REIT has taken on too much debt. Regulation requires that REITs do not exceed 50% of debt to assets.

 

Metrics for overall and each REIT sector

Overall sector

  • Average yield: 5.3%
  • Average price-to-book (PB): 0.98
  • Average debt to assets: 36.7%

Diversified REITs

  • Consists of CapitaLand Integrated Commercial Trust, Cromwell European REIT, Mapletree North Asia Commercial Trust and Suntec REIT
  • Average yield: 5.9%
  • Average price-to-book:0.89
  • Average debt to assets: 40%

Office REITs

  • Consists of Elite Commercial REIT, IREIT Global, Keppel Pacific Oak US REIT, Keppel REIT, Lendlease Global Commercial REIT, Manulife US REIT, OUE Commercial REIT, Prime US REIT
  • Average yield: 6.5%
  • Average price-to-book: 0.91
  • Average debt to assets: 36.1%

Retail REITs

  • Consists of BHG Retail REIT, CapitaLand China Trust, Frasers Centrepoint Trust, Lippo Malls Indo Retail Trust, Mapletree Commercial Trust, Sasseur REIT, SPH REIT, Starhill Global REIT, United Hampshire REIT
  • Average yield: 5.6%
  • Average price-to-book: 0.82
  • Average debt to assets: 33.5%

Industrial/ logistics REITs

  • Consists of AIMS APAC REIT, ARA Logos Logistics Trust, Ascendas REIT, Daiwa House Logistics Trust, EC World REIT, ESR REIT, Frasers Logistics and Commercial Trust, Mapletree Industrial Trust, Mapletree Logistics Trust, Sabana Shariah REIT
  • Average yield: 5.4%
  • Average price-to-book: 1.03
  • Average debt to assets: 37.9%

Hospitality REITs

  • Consists of ARA US Hospitality Trust, Ascott REIT, CDL Hospitality Trust, Far East Hospitality Trust, Frasers Hospitality Trust
  • Average yield: 2.8%
  • Average price-to-book: 0.81
  • Average debt to assets: 42.2%

Data centre REITs

  • Consists of Keppel DC REIT and Digital Core REIT
  • Average yield: 2.0%
  • Average price-to-book: 1.71
  • Average debt to assets: 30.1%

 

List of all Singapore REITs

Company Name Share price Price-to-book Dividend yield Debt-to-asset ratio
AIMS APAC REIT (SGX:O5RU) 1.46 1.05 6.6% 28.5%
ARA LOGOS Logistics Trust (SGX:K2LU) 0.90 1.20 4.4% 43.1%
ARA US Hospitality Trust (SGX:XZL) 0.51 0.83 0.0% 50.7%
Ascendas Real Estate Investment Trust (SGX:A17U) 2.97 1.27 5.1% 39.4%
Ascott Residence Trust (SGX:HMN) 1.03 0.78 3.9% 38.0%
BHG Retail REIT (SGX:BMGU) 0.61 0.68 3.6% 29.0%
CapitaLand China Trust (SGX:AU8U) 1.20 0.73 6.3% 34.3%
CapitaLand Integrated Commercial Trust (SGX:C38U) 2.09 1.02 5.2% 38.8%
CDL Hospitality Trusts (SGX:J85) 1.20 0.93 3.9% 41.2%
Cromwell European Real Estate Investment Trust (SGX:CWBU) 2.53 1.01 6.8% 37.9%
Daiwa House Logistics Trust (SGX:DHLU) 0.81 0.00 0.0%
Digital Core REIT (SGX:DCRU) 1.18 1.40 0.0% 24.0%
EC World Real Estate Investment Trust (SGX:BWCU) 0.76 0.80 8.1% 38.0%
Elite Commercial REIT (SGX:MXNU) 0.67 1.08 7.6% 41.9%
ESR-REIT (SGX:J91U) 0.49 1.21 6.4% 42.4%
Far East Hospitality Trust (SGX:Q5T) 0.60 0.76 4.1% 38.9%
First Real Estate Investment Trust (SGX:AW9U) 0.32 0.81 10.0% 34.3%
Frasers Centrepoint Trust (SGX:J69U) 2.33 1.01 5.2% 30.7%
Frasers Hospitality Trust (SGX:ACV) 0.48 0.73 2.1% 42.2%
Frasers Logistics & Commercial Trust (SGX:BUOU) 1.53 1.23 5.0% 34.9%
IREIT Global (SGX:UD1U) 0.65 0.81 4.4% 33.0%
Keppel DC REIT (SGX:AJBU) 2.45 2.03 4.0% 36.2%
Keppel Pacific Oak US REIT (SGX:CMOU) 0.81 0.98 7.8% 37.8%
Keppel REIT (SGX:K71U) 1.13 0.81 5.2% 32.8%
Lendlease Global Commercial REIT (SGX:JYEU) 0.90 0.92 5.2% 31.5%
Lippo Malls Indonesia Retail Trust (SGX:D5IU) 0.05 0.41 5.6% 41.8%
Manulife US Real Estate Investment Trust (SGX:BTOU) 0.67 0.94 7.9% 42.4%
Mapletree Commercial Trust (SGX:N2IU) 1.82 1.06 5.3% 33.8%
Mapletree Industrial Trust (SGX:ME8U) 2.69 1.42 5.0% 35.9%
Mapletree Logistics Trust (SGX:M44U) 1.86 1.31 4.6% 38.5%
Mapletree North Asia Commercial Trust (SGX:RW0U) 1.09 0.82 6.2% 40.8%
OUE Commercial Real Estate Investment Trust (SGX:TS0U) 0.44 0.75 6.0% 34.3%
Parkway Life Real Estate Investment Trust (SGX:C2PU) 5.20 2.19 2.7% 34.8%
Prime US REIT (SGX:OXMU) 0.84 0.98 8.0% 35.1%
Sabana Industrial Real Estate Investment Trust (SGX:M1GU) 0.45 0.85 8.5% 40.1%
Sasseur Real Estate Investment Trust (SGX:CRPU) 0.85 0.90 8.4% 26.7%
SPH REIT (SGX:SK6U) 1.00 0.98 5.4% 30.6%
Starhill Global Real Estate Investment Trust (SGX:P40U) 0.65 0.76 6.1% 36.2%
Suntec Real Estate Investment Trust (SGX:T82U) 1.54 0.70 5.4% 42.6%
United Hampshire US Real Estate Investment Trust (SGX:ODBU) 0.67 0.88 4.6% 38.8%

 

Source: Capital IQ, Bloomberg, Company announcements

Share price are in Singapore dollars

PB refers to price-to-book value

Dividend yield is calculated as the sum of the last 4 financial quarters divided by latest share price.

Debt to assets is calculated as the total debt divided by total assets on the balance sheet. The number is similar but may differ slightly from what is reported by each REIT.

Updated: 4 Jan 2022