Office REITs grapple with consistent losing streak in April

They’re the sector’s worst performers.

Office REITs have been on a losing streak in April, according to data from RHB Research.

For the week that ended on April 17, the office REITs declined 0.9% week on week, following a mild 0.3% increase for the week that ended on April 10. From March 30 to April 3, office REITs registerd a 0.2% week-on-week decline.

Last week, office REITs were pulled down by a 2.3% decline by CapitaCommercial Trust, despite Frasers Commercial Trust booking in 1.0% gain WoW.

The other segments registered modest movements with Retail, Industrial, and Healthcare REITs gathering -0.3%, -0.5%, -0.6% WoW respectively. OUE Hospitality Trust (OUEHT) was the best performer while CapitaRetail China Trust (CRCT) was the worst performer, down 3.8% WoW