S-Reits launch Q3 reports amid higher rates, analysts stay optimistic
Singapore REITs have begun filing Q3 results, with 26 trusts scheduled between Oct 21 and Nov 6 as markets assess the effect of rising interest rates.
Singapore’s real-estate investment trusts opened their Q3 earnings season, with 26 entities confirming disclosures from Oct 21 to Nov 6, covering full-year, half-year and quarterly updates. Aims Apac Reit led the rollout on Oct 15, posting a 4% increase in distribution per unit, an 11.1% jump in net property income and a drop in blended debt cost to 3.9%. Research firms remain upbeat, citing resilient industrial income, book-value discounts and robust balance-sheet metrics, especially among retail-oriented trusts like Frasers Centrepoint Trust and LReit.
DBS Group Research observed that recent rate hikes have largely been priced in and many REITs are refinancing older debt at lower rates, with roughly half maintaining gearing below the sector average of 38%. Suntec Reit announced a strategic review to reduce overseas exposure and improve its capital structure, a move RHB Research views as a potential value-unlocking catalyst.
