S-Reits posts 7.1% increase in returns in January: report

This is above STI’s 3.5% total returns.

S-Reits posted a 7.1% increase in total returns in January, outpacing Straits Times Index’s total returns of 3.5%, Singapore Exchange (SGX) reported.

SGX attributed this to “expectations of a slower pace of interest rate increases [that] continued to affect market sentiments.”

Meanwhile, institutional investors net bought (+S$1.6m) while retail investors net sold (-$44.3m) of S-REITs in January 2023.

Moreover, the report noted that five S-Reits have so far released their financial results or business updates; whilst 26 others have confirmed released dates in the coming weeks.

“As the sector continues to face headwinds, the sector's operational efficiency, growth prospects and balance sheet resilience will be placed under scrutiny. Out of the 5 S-Reits, Suntec Reit announced its full-year results,” SGX also noted.

“The Reit reported a 24% yoy growth in net property income (NPI), and saw distributable income grow 3.4% on a full year basis. Full year DPU grew 2.5% to 8.884 cents due to higher NPI contribution and a capital distribution of S$23.0mn.”

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