General S-REITs Discussion Thread
- Thread starter Dividends Warrior
- Start date
Shion
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Current yield I think 5+%
Potato_Wedges
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Thanks. Be attending.
peppermint7
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Can share with me as well? I like to have some Reits in my portfolio too
Thanks!
Shared....
peppermint7
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Starhill Aims Ascendas Lendlease should be giving out dividends next month unless there's any changes. Looking forward
for this discussion, there is a KIT thread since is not a reit counter.
but i got same game plan as you, the capital gain covered for my prism+ tv last year.
In the introduction:
Retail REITs have benefited from progressive normalisation in consumer confidence and spending. We expect retail REITs to register a strong DPU growth of 31% in 2021.
Retail REITs have benefited from progressive normalisation in consumer confidence and spending. We expect retail REITs to register a strong DPU growth of 31% in 2021.
Five ‘laggard' S-REITs slated to outperform in 2021
https://sbr.com.sg/commercial-property/news/five-‘laggard-s-reits-slated-outperform-in-2021
https://sbr.com.sg/commercial-property/news/five-‘laggard-s-reits-slated-outperform-in-2021
peppermint7
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Today REITs are doing well. Rising tide lifts all boats
Today REITs are doing well. Rising tide lifts all boats
Yea, mine all looking good.
FLCT breakout
CRCT breakout
MNACT going to breakout
Lendlease looking very good
MCT target 2.23, a bit slow but ok
MINT waking up
DevilPlate
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Why FCT drop 2%+ today?
Maybe pull down to prepare for breakout
My Top 6 Exciting REITs To Watch in 2021
https://sgstockmarketinvestor.com/my-top-6-exciting-reits-to-watch-in-2021/
https://sgstockmarketinvestor.com/my-top-6-exciting-reits-to-watch-in-2021/
Shion
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Broker's take: Credit Suisse says S-Reits positioned for retail recovery
Broker's take: Credit Suisse says S-Reits positioned for retail recovery
https://www.businesstimes.com.sg/co...e-says-s-reits-positioned-for-retail-recovery
RETAIL and hospitality Singapore-listed real estate investment trusts (S-Reits) were the hardest hit by the Covid-19 pandemic and should continue their recovery in 2021, according to Credit Suisse. This comes amid a return to normality for domestic mobility, and a slow improvement for international travel, it said in a sector note on Monday.
"We believe suburban retail has the smoothest path for recovery, while improvement for hospitality is dependent on international travel, which will be fraught with significantly more uncertainty," wrote analysts Nicholas Teh, Louis Chua and Terence Lee.
Credit Suisse has "outperform" recommendations for Frasers Centrepoint Trust (FCT), CapitaLand Integrated Commercial Trust (CICT) and Keppel DC Reit (KDC Reit). It has a target price of S$2.97 for FCT, S$2.60 for CICT and S$3.08 for KDC Reit. The former two counters were cited as beneficiaries of domestic recovery, while KDC Reit is preferred for acquisitions.
Separately, Credit Suisse has downgraded its call on Mapletree Commercial Trust (MCT) to "neutral", with a target price of S$2.26 from S$2.20 previously, as it believes that the market is already pricing in the recovery.
As at 2.09pm on Monday, FCT units were trading at S$2.61, up S$0.01 or 0.4 per cent, while CICT units were trading at S$2.31, up S$0.03 or 1.3 per cent. KDC Reit units gained S$0.01 or 0.4 per cent to S$2.86, while MCT units were flat at S$2.19.
According to Credit Suisse, industrial or data centre Reits will continue to be the focus for acquisitions, given relatively higher cap rates for assets, and low dividend yields facilitating distribution per unit (DPU) accretion. Within the subsector, Credit Suisse believes KDC Reit has the ability to "deliver the highest DPU accretion from acquisitions".
Outside of industrial or data centre Reits, FCT and MCT have several sponsor assets that can be acquired accretively, though there is no guidance on timing, the analysts wrote.
In addition, key structural trends to watch include work-from-home (WFH), e-commerce, as well as data centres, Credit Suisse noted.
"WFH remains a risk for the office sector with potential reduction of space by tenants, while a structurally higher proportion of the population working from home is a benefit for suburban retail," it said.
E-commerce continues to be a positive for logistics demand, while Credit Suisse is of the view that Singapore will maintain its status as the Asean hub for data centres, with rates supported by the lack of new supply.
Broker's take: Credit Suisse says S-Reits positioned for retail recovery
https://www.businesstimes.com.sg/co...e-says-s-reits-positioned-for-retail-recovery
RETAIL and hospitality Singapore-listed real estate investment trusts (S-Reits) were the hardest hit by the Covid-19 pandemic and should continue their recovery in 2021, according to Credit Suisse. This comes amid a return to normality for domestic mobility, and a slow improvement for international travel, it said in a sector note on Monday.
"We believe suburban retail has the smoothest path for recovery, while improvement for hospitality is dependent on international travel, which will be fraught with significantly more uncertainty," wrote analysts Nicholas Teh, Louis Chua and Terence Lee.
Credit Suisse has "outperform" recommendations for Frasers Centrepoint Trust (FCT), CapitaLand Integrated Commercial Trust (CICT) and Keppel DC Reit (KDC Reit). It has a target price of S$2.97 for FCT, S$2.60 for CICT and S$3.08 for KDC Reit. The former two counters were cited as beneficiaries of domestic recovery, while KDC Reit is preferred for acquisitions.
Separately, Credit Suisse has downgraded its call on Mapletree Commercial Trust (MCT) to "neutral", with a target price of S$2.26 from S$2.20 previously, as it believes that the market is already pricing in the recovery.
As at 2.09pm on Monday, FCT units were trading at S$2.61, up S$0.01 or 0.4 per cent, while CICT units were trading at S$2.31, up S$0.03 or 1.3 per cent. KDC Reit units gained S$0.01 or 0.4 per cent to S$2.86, while MCT units were flat at S$2.19.
According to Credit Suisse, industrial or data centre Reits will continue to be the focus for acquisitions, given relatively higher cap rates for assets, and low dividend yields facilitating distribution per unit (DPU) accretion. Within the subsector, Credit Suisse believes KDC Reit has the ability to "deliver the highest DPU accretion from acquisitions".
Outside of industrial or data centre Reits, FCT and MCT have several sponsor assets that can be acquired accretively, though there is no guidance on timing, the analysts wrote.
In addition, key structural trends to watch include work-from-home (WFH), e-commerce, as well as data centres, Credit Suisse noted.
"WFH remains a risk for the office sector with potential reduction of space by tenants, while a structurally higher proportion of the population working from home is a benefit for suburban retail," it said.
E-commerce continues to be a positive for logistics demand, while Credit Suisse is of the view that Singapore will maintain its status as the Asean hub for data centres, with rates supported by the lack of new supply.
Shion
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Singapore office rents may dip by 5% this year as WFH trends continue: Knight Frank
Singapore office rents may dip by 5% this year as WFH trends continue: Knight Frank
https://www.businesstimes.com.sg/re...this-year-as-wfh-trends-continue-knight-frank
PROPERTY consultancy Knight Frank is expecting office rents in Singapore to fall by around 5 per cent in 2021 before bottoming out and recovering in the following year, barring new strains of the Covid-19 virus and consequent lockdowns.
This comes amid a projected 5.3 million square feet of new supply islandwide from Q4 2020 to 2023, with central business district (CBD) occupancy for the period estimated to hit 94.1 per cent and overall prime office rents to average at S$10.16 per square foot per month.
In its latest Q4 2020 report on the Singapore office market, Knight Frank said it foresees lower net new demand for office space given the permanent adoption of rotational remote working by many corporates.
Examples include Mizuho and Sompo Insurance, which recently trimmed about 16,800 and 26,000 sq ft from their office spaces in Singapore, respectively.
CIMB Bank in December 2020 was also reported to have leased over 50,000 sq ft in 30 Raffles Place, formerly known as the Chevron House. Knight Frank highlighted that this is less than their existing space of 70,000 sq ft at Singapore Land Tower.
"The rethinking of traditional office space usage in an age of flexible work arrangements, and the casualties of the Covid-19 pandemic as the government withdraws business support measures, will likely add to contractionary pressures for office space," it added.
While the consultancy expects the trend of consolidating and paring down real estate footprint to persist among the banking and insurance sectors, it believes that information and technology communications (ICT) companies will remain active in the office market.
Tech giants such as ByteDance and Tencent announced expansion inroads into Singapore this year as ICT firms inadvertently benefited from the Covid-19 pandemic, Knight Frank noted.
"With an estimated S$3.5 billion invested for ICT procurement in 2020 and a further S$25 billion into research, innovation and enterprise activities till 2025, global firms and family offices have been and will continue to be drawn to set up in Singapore," it said.
Other factors that will boost Singapore as an office destination includes the Singapore government's effective handling of the Covid-19 outbreak, as well as the government's commitment to developing key sectors of the economy, added the consultancy.
According to Knight Frank's research, prime grade office rents in the Raffles Place/Marina Bay precinct contracted 10.2 per cent in 2020, as rental declines moderated in the final quarter of the year to dip by 2 per cent quarter-on-quarter compared to the 2.3 per cent decrease in Q3.
While pre-termination space increased to an estimated 330,000 sq ft in Q4 2020 from 260,000 sq ft in the previous quarter, occupancy levels for prime grade offices remained supported by these committed leases to result in a slight 0.2 percentage point quarter-on-quarter decline in Q4.
Singapore office rents may dip by 5% this year as WFH trends continue: Knight Frank
https://www.businesstimes.com.sg/re...this-year-as-wfh-trends-continue-knight-frank
PROPERTY consultancy Knight Frank is expecting office rents in Singapore to fall by around 5 per cent in 2021 before bottoming out and recovering in the following year, barring new strains of the Covid-19 virus and consequent lockdowns.
This comes amid a projected 5.3 million square feet of new supply islandwide from Q4 2020 to 2023, with central business district (CBD) occupancy for the period estimated to hit 94.1 per cent and overall prime office rents to average at S$10.16 per square foot per month.
In its latest Q4 2020 report on the Singapore office market, Knight Frank said it foresees lower net new demand for office space given the permanent adoption of rotational remote working by many corporates.
Examples include Mizuho and Sompo Insurance, which recently trimmed about 16,800 and 26,000 sq ft from their office spaces in Singapore, respectively.
CIMB Bank in December 2020 was also reported to have leased over 50,000 sq ft in 30 Raffles Place, formerly known as the Chevron House. Knight Frank highlighted that this is less than their existing space of 70,000 sq ft at Singapore Land Tower.
"The rethinking of traditional office space usage in an age of flexible work arrangements, and the casualties of the Covid-19 pandemic as the government withdraws business support measures, will likely add to contractionary pressures for office space," it added.
While the consultancy expects the trend of consolidating and paring down real estate footprint to persist among the banking and insurance sectors, it believes that information and technology communications (ICT) companies will remain active in the office market.
Tech giants such as ByteDance and Tencent announced expansion inroads into Singapore this year as ICT firms inadvertently benefited from the Covid-19 pandemic, Knight Frank noted.
"With an estimated S$3.5 billion invested for ICT procurement in 2020 and a further S$25 billion into research, innovation and enterprise activities till 2025, global firms and family offices have been and will continue to be drawn to set up in Singapore," it said.
Other factors that will boost Singapore as an office destination includes the Singapore government's effective handling of the Covid-19 outbreak, as well as the government's commitment to developing key sectors of the economy, added the consultancy.
According to Knight Frank's research, prime grade office rents in the Raffles Place/Marina Bay precinct contracted 10.2 per cent in 2020, as rental declines moderated in the final quarter of the year to dip by 2 per cent quarter-on-quarter compared to the 2.3 per cent decrease in Q3.
While pre-termination space increased to an estimated 330,000 sq ft in Q4 2020 from 260,000 sq ft in the previous quarter, occupancy levels for prime grade offices remained supported by these committed leases to result in a slight 0.2 percentage point quarter-on-quarter decline in Q4.
Shion
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CapitaSpring on track for full completion in 2H21, secures 38% committed occupancy
CapitaSpring on track for full completion in 2H21, secures 38% committed occupancy
https://www.theedgesingapore.com/ne...ompletion-2h21-secures-38-committed-occupancy
CapitaSpring, which is jointly owned by CapitaLand Limited, CapitaLand Integrated Commercial Trust (CICT) and Mitsubishi Estate Co (MEC), has achieved full height, with about 75% of its overall construction completed.
The 280-metre-tall landmark, located in the heart of Raffles Place, is on track to receive its temporary occupation permit (TOP) in 2H2021.
To date, about 38% of CapitaSpring’s 647,000 sq ft of net lettable area (NLA) have been committed.
The development is on track to achieve over 60% commitments by completion, which includes leases in advanced negotiations.
CapitaSpring will offer fully integrated workspace solutions that include the full range of hot desking, meeting facilities, private offices, and others, to support new, flexible requirements of office tenants.
In line with the 51-storey-building’s core-flex model, about 10% of its office NLA is set aside for flexible workspace.
CapitaLand’s co-working partner, The Work Project (TWP), has leased level 21 to operate coworking spaces and facilities.
Under a management agreement, TWP will manage levels 39 and 40 for CapitaLand to provide customised enterprise workspace solutions for tenants.
This marks the first management agreement model for a coworking operator in a Singapore Grade A office building.
CapitaSpring will also be home to the 299-unit Citadines Raffles Place Singapore, which is slated to open in 4Q2021. The serviced residence will be managed by The Ascott Limited.
“CapitaLand and our partners are pleased to achieve topping out for CapitaSpring. This construction milestone is made possible only with the support of the authorities and our staff, consultants, contractors, suppliers and migrant workforce. CapitaSpring represents CapitaLand’s vision for the future of work with fully integrated core-flex solutions, tech-enabled frictionless user experience and community-centric programming,” says Tan Yew Chin, CEO, CapitaLand Singapore.
“As Covid-19 changes the norms of work, the forward-looking features of CapitaSpring have strengthened the development’s value proposition as a flexible, sustainable and connected workplace ecosystem. Supported by CapitaSpring’s prime CBD location, we are confident that the development will enjoy take up rates similar to or better than CapitaLand’s 79 Robinson Road project in the Tanjong Pagar CBD micro-market, which is on track to reach 90% committed occupancy,” Tan adds.
“CapitaSpring will be the only premium Grade A office development in CBD completing this year. Driven in part by the limited CBD office supply, CapitaSpring has attracted healthy interest from tenants and prospective tenants. To date, committed office tenants are mainly from the legal and banking & financial services sectors,” notes Tony Tan, CEO of CICT’s manager.
“We are encouraged by CapitaSpring’s leasing momentum, which reflects the market’s continued demand for quality workspace in a well-designed integrated development incorporating amenities and programming that promote workplace wellness and community engagement. We will continue to explore ways to enliven the CapitaSpring community and enhance its attractiveness, including bringing in retailers and restaurants with novel and complementary offerings,” he adds.
Shares in CapitaLand closed flat at $3.47, while units in CICT closed 4 cents higher or 1.8% up at $2.32 on Jan 18.
CapitaSpring on track for full completion in 2H21, secures 38% committed occupancy
https://www.theedgesingapore.com/ne...ompletion-2h21-secures-38-committed-occupancy
CapitaSpring, which is jointly owned by CapitaLand Limited, CapitaLand Integrated Commercial Trust (CICT) and Mitsubishi Estate Co (MEC), has achieved full height, with about 75% of its overall construction completed.
The 280-metre-tall landmark, located in the heart of Raffles Place, is on track to receive its temporary occupation permit (TOP) in 2H2021.
To date, about 38% of CapitaSpring’s 647,000 sq ft of net lettable area (NLA) have been committed.
The development is on track to achieve over 60% commitments by completion, which includes leases in advanced negotiations.
CapitaSpring will offer fully integrated workspace solutions that include the full range of hot desking, meeting facilities, private offices, and others, to support new, flexible requirements of office tenants.
In line with the 51-storey-building’s core-flex model, about 10% of its office NLA is set aside for flexible workspace.
CapitaLand’s co-working partner, The Work Project (TWP), has leased level 21 to operate coworking spaces and facilities.
Under a management agreement, TWP will manage levels 39 and 40 for CapitaLand to provide customised enterprise workspace solutions for tenants.
This marks the first management agreement model for a coworking operator in a Singapore Grade A office building.
CapitaSpring will also be home to the 299-unit Citadines Raffles Place Singapore, which is slated to open in 4Q2021. The serviced residence will be managed by The Ascott Limited.
“CapitaLand and our partners are pleased to achieve topping out for CapitaSpring. This construction milestone is made possible only with the support of the authorities and our staff, consultants, contractors, suppliers and migrant workforce. CapitaSpring represents CapitaLand’s vision for the future of work with fully integrated core-flex solutions, tech-enabled frictionless user experience and community-centric programming,” says Tan Yew Chin, CEO, CapitaLand Singapore.
“As Covid-19 changes the norms of work, the forward-looking features of CapitaSpring have strengthened the development’s value proposition as a flexible, sustainable and connected workplace ecosystem. Supported by CapitaSpring’s prime CBD location, we are confident that the development will enjoy take up rates similar to or better than CapitaLand’s 79 Robinson Road project in the Tanjong Pagar CBD micro-market, which is on track to reach 90% committed occupancy,” Tan adds.
“CapitaSpring will be the only premium Grade A office development in CBD completing this year. Driven in part by the limited CBD office supply, CapitaSpring has attracted healthy interest from tenants and prospective tenants. To date, committed office tenants are mainly from the legal and banking & financial services sectors,” notes Tony Tan, CEO of CICT’s manager.
“We are encouraged by CapitaSpring’s leasing momentum, which reflects the market’s continued demand for quality workspace in a well-designed integrated development incorporating amenities and programming that promote workplace wellness and community engagement. We will continue to explore ways to enliven the CapitaSpring community and enhance its attractiveness, including bringing in retailers and restaurants with novel and complementary offerings,” he adds.
Shares in CapitaLand closed flat at $3.47, while units in CICT closed 4 cents higher or 1.8% up at $2.32 on Jan 18.
Reits in a post covid landscape https://youtu.be/WDvQnrqLjdA
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