REITs are a favourite among investors due to the high dividend yields. But they were not spared in the recent market carnage and we identified 20 REITs that have lost more than 10% since the start of the year to 9 Mar 2020.
Countdown starts…
#20 – Cache Logistics (SGX:K2LU) -10%
- 2 Jan 2020 share price: $0.711
- 9 Mar 2020 share price: $0.64
- Change = -10%
- Dividend Yield based on 9 Mar share price = 8.6%
- P/B Ratio based on 9 Mar share price = 1.1
Cache Logistics Trust is a real estate investment trust, which engages in the investment in income producing real estate used for logistics purposes as well as real estate-related assets in Asia Pacific. It operates through the following geographical segments: Singapore, Australia, and China.
#19 – SPH REIT (SGX:SK6U) -10%
- 2 Jan 2020 share price: $1.08
- 9 Mar 2020 share price: $0.97
- Change = -10%
- Dividend Yield based on 9 Mar share price = 5.8%
- P/B Ratio based on 9 Mar share price = 1.0
SPH REIT engages in the direct and indirect investments on a portfolio of income-producing real estate used primarily for retail purposes. It operates through the following segments: Paragon, The Clementi Mall, The Rail Mall, and Figtree Grove. The Paragon segment is a retail mall and medical suite or office property located in the heart of Orchard Road, Singapore’s shopping and tourist precinct. The Clementi Mall segment is a mid-market suburban mall located in the centre of Clementi town, an established residential estate in the west of Singapore. The Rail Mall segment is a retail strip with a 360-metre prominent road frontage to Upper Bukit Timah Road. The Figtree Grove segment is a freehold sub-regional shopping centre in Wollongong, New South Wales Australia.
#18 – BHG Retail REIT (SGX:BMGU) -11%
- 2 Jan 2020 share price: $0.6841
- 9 Mar 2020 share price: $0.61
- Change = -11%
- Dividend Yield based on 9 Mar share price = 6.3%
- P/B Ratio based on 9 Mar share price = 0.7
BHG Retail REIT operates as a real estate investment trust, which engages in relating to investment in a diversified portfolio of income-producing properties. Its properties are designed as lifestyle destinations, each multi-tenanted mall features a compelling mix of shopping, dining, education and entertainment establishments.
#17 – Lendlease Global Commercial REIT (SGX:JYEU) -12%
- 2 Jan 2020 share price: $0.907
- 9 Mar 2020 share price: $0.80
- Change = -12%
- Dividend Yield based on 9 Mar share price = 6.5% (annualised)
- P/B Ratio based on 9 Mar share price = 1.0
Read also: Analysis of Lendlease REIT
Lendlease Global Commercial REIT is a Singapore real estate investment trust established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of stabilised income-producing real estate assets located globally, which are used primarily for retail and/or office purposes.
Its initial portfolio comprises a leasehold interest in, 313@somerset, a retail property located in Singapore and a freehold interest in Sky Complex, which comprises three office buildings located in Milan. The portfolio has a total NLA of approximately 1.3 million square feet, with an appraised value of S$1.4 billion.
#16 – Sabana Shariah Compliant Industrial REIT -12%
- 2 Jan 2020 share price: $0.4622
- 9 Mar 2020 share price: $0.405
- Change = -12%
- Dividend Yield based on 9 Mar share price = 7.2%
- P/B Ratio based on 9 Mar share price = 0.7
Sabana Shari’ah Compliant Industrial REIT engages in the ownership and investments in income-producing real estate used for industrial purposes, as well as real estate-related assets. It operates through the following segments: High-tech Industrial, Chemical Warehouse and Logistics, Warehouse and Logistics, and General Industrial. The High-tech Industrial segment includes building in medium rise development located along the fringes of central locations and accessible to other parts of Singapore through expressways and public transportation. The Chemical Warehouse and Logistics segment comprises of specialized warehouses built to accommodate chemicals and goods. The Warehouse and Logistics segment includes general warehouse comprising space equipped with loading and docking facilities and are intended for the storage and distribution of goods and merchandise. The General Industrial segment consists of industrial buildings with ancillary offices, warehouses and manufacturing facilities.
#15 – Starhill Global REIT (SGX:P40U) -13%
- 2 Jan 2020 share price: $0.7136
- 9 Mar 2020 share price: $0.62
- Change = -13%
- Dividend Yield based on 9 Mar share price = 7.2%
- P/B Ratio based on 9 Mar share price = 0.7
Starhill Global Real Estate Investment Trust engages in investing in real estate used for retail and office purposes. It operates through the following segments: Wisma Atria Property, Ngee Ann City Property, Australia Properties, Malaysia Properties, and Other Properties.
#14 – Asian Pay Television Trust (SGX:S7OU) -14%
- 2 Jan 2020 share price: $0.17
- 9 Mar 2020 share price: $0.146
- Change = -14%
- Dividend Yield based on 9 Mar share price = 8.2%
- P/B Ratio based on 9 Mar share price = 0.2
Asian Pay Television Trust engages in the provision of cable TV and broadband services in Taiwan, Hong Kong, Japan, and Singapore.
#13 – CapitaLand Retail China Trust (SGX:AU8U) -14%
- 2 Jan 2020 share price: $1.60
- 9 Mar 2020 share price: $1.37
- Change = -14%
- Dividend Yield based on 9 Mar share price = 7.2%
- P/B Ratio based on 9 Mar share price = 0.9
CapitaLand Retail China Trust is a real estate investment trust. It operates through the following segments: CapitaMall Xizhimen, CapitaMall Wangjing, CapitaMall Grand Canyon, CapitaMall Xinnan, CapitaMall Erqi, CapitaMall Shuangjing, CapitaMall Minzhongleyuan, CapitaMall Qibao, CapitaMall Saihan, and CapitaMall Wuhu. It invests on a long-term basis in a diversified portfolio of income-producing real estate used primarily for retail purposes and located primarily in China, Hong Kong and Macau.
#12 – Lippo Malls Indonesia Retail Trust -15%
- 2 Jan 2020 share price: $0.2212
- 9 Mar 2020 share price: $0.189
- Change = -15%
- Dividend Yield based on 9 Mar share price = 11.8%
- P/B Ratio based on 9 Mar share price = 0.7
Lippo Malls Indonesia Retail Trust engages in the provision of real estate investment services. It focuses on the diversified portfolio of income producing retail and retail-related properties.
#11 – Soilbuild Business Space REIT -15%
- 2 Jan 2020 share price: $0.5157
- 9 Mar 2020 share price: $0.44
- Change = -15%
- Dividend Yield based on 9 Mar share price = 9.6%
- P/B Ratio based on 9 Mar share price = 0.7
Soilbuild Business Space REIT engages in the investment in a long-term basis, directly or indirectly, in a portfolio of income-producing real estate used primarily for business space purposes. It operates through the Business Park and Industrial business segments. The Business Park segment includes business space used primarily for technology, research and development, high value-added, and knowledge-intensive activities, including any ancillary usage, so long as such usage is permitted under the relevant regulations. The Industrial segment offers ramp-up facilities, flatted factories, and light industrial properties.
#10 – Sasseur REIT (SGX:CRPU) -18%
- 2 Jan 2020 share price: $0.8862
- 9 Mar 2020 share price: $0.73
- Change = -18%
- Dividend Yield based on 9 Mar share price = 8.9%
- P/B Ratio based on 9 Mar share price = 0.8
Sasseur Real Estate Investment Trust engages in the provision of investment strategy in a diverse portfolio of real estate. It focuses on real estate used primarily for retail outlet purposes on Asia.
#9 – Frasers Hospitality Trust (SGX:ACV) -19%
- 2 Jan 2020 share price: $0.72
- 9 Mar 2020 share price: $0.585
- Change = -19%
- Dividend Yield based on 9 Mar share price = 7.7%
- P/B Ratio based on 9 Mar share price = 0.8
Frasers Hospitality Trust is a global hotel and serviced residence trust, which engages in property development and real estate investment. The firm also provides investment advisory and property fund management services; and operates as Trustee-Manager for Frasers Hospitality Business Trust. Its portfolio comprises residential and commercial developments, shopping malls, and office and business space properties.
#8 – Ascott Residence Trust (SGX:HMN) -20%
- 2 Jan 2020 share price: $1.33
- 9 Mar 2020 share price: $1.07
- Change = -20%
- Dividend Yield based on 9 Mar share price = 7.1%
- P/B Ratio based on 9 Mar share price = 0.9
Ascott Residence Trust engages as a hospitality trust. It invests in income-producing real estate and real estate-related assets which are used or predominantly used as serviced residences, hotels, rental housing properties and other hospitality assets in any country in the world.
#7 – CDL Hospitality Trusts (SGX:J85) -20%
- 2 Jan 2020 share price: $1.5792
- 9 Mar 2020 share price: $1.26
- Change = -20%
- Dividend Yield based on 9 Mar share price = 7.2%
- P/B Ratio based on 9 Mar share price = 0.8
CDL Hospitality Trusts engages in the investments in hospitality-related income-producing real estate assets. It operates through the following segments: Singapore, New Zealand, Australia, Germany, Italy, Maldives, Japan, and United Kingdom.
#6 – Accordia Golf Trust (SGX:ADQU) -20%
- 2 Jan 2020 share price: $0.685
- 9 Mar 2020 share price: $0.545
- Change = -20%
- Dividend Yield based on 9 Mar share price = 12.8%
- P/B Ratio based on 9 Mar share price = 0.7
Read also: Analysis of Accordia Golf Trust
Accordia Golf Trust engages in the business of operating and maintaining golf courses and golf course related assets. It also includes owning a portfolio of driving ranges.
#5 – OUE Commercial REIT (SGX:TS0U) -22%
- 2 Jan 2020 share price: $0.5585
- 9 Mar 2020 share price: $0.435
- Change = -22%
- Dividend Yield based on 9 Mar share price = 7.6%
- P/B Ratio based on 9 Mar share price = 0.7
OUE Commercial Real Estate Investment Trust invests in income-producing properties used for commercial purposes in financial and business hubs in key gateway cities. It operates through the Singapore and China geographical segments. Its portfolio includes OUE Bayfront, One Raffles Place, OUE Downtown Office, and Lippo Plaza.
#4 – Hutchison Port Holdings Trust (SGX:NS8U) -23%
- 2 Jan 2020 share price: US$0.1627
- 9 Mar 2020 share price: US$0.126
- Change = -23%
- Dividend Yield based on 9 Mar share price = 11.1%
- P/B Ratio based on 9 Mar share price = 0.3
Hutchison Port Holdings Trust engages in the investment, development, and management of container ports. It also offers port ancillary services.
#3 – Far East Hospitality Trust (SGX:Q5T) -23%
- 2 Jan 2020 share price: $0.7393
- 9 Mar 2020 share price: $0.57
- Change = -23%
- Dividend Yield based on 9 Mar share price = 6.7%
- P/B Ratio based on 9 Mar share price = 0.7
Far East Hospitality Trust is a real estate investment trust, which engages in the business of investing in real estate. It operates through the following two segments: Hotels & Serviced Residences, and Retail Units, Offices, & Others.
#2 – ARA US Hospitality Trust (SGX:XZL) -37%
- 2 Jan 2020 share price: $0.87
- 9 Mar 2020 share price: $0.55
- Change = -37%
- Dividend Yield based on 9 Mar share price = 7.7%
- P/B Ratio based on 9 Mar share price = 0.6
Read also: Analysis on ARA US HTrust
ARA US Hospitality Trust engages in the investment in upscale select-service hospitality sector across key growth regions of U.S. It operates through the Hyatt Place and Hyatt House segments.
#1 – Eagle Hospitality Trust (SGX:LIW) -50%
- 2 Jan 2020 share price: $0.555
- 9 Mar 2020 share price: $0.28
- Change = -50%
- Dividend Yield based on 9 Mar share price = 12.4%
- P/B Ratio based on 9 Mar share price = 0.3
Read also: Analysis of Eagle HTrust
Eagle Hospitality Trust operates as a real estate investment trust. Its investment objective is to deliver regular and stable distributions to the holders of the stapled securities and to achieve long-term growth in distribution per stapled security and in the net asset value per stapled security, while maintaining an appropriate capital structure.
Conclusion
You can see most of the worst hit REITs are hospitality related. It is understandable since travel has been greatly reduce to minimise the spread of the coronavirus. It will be a while before everyone has the confidence to travel again.
Like to learn more about REITs? Remember to check out FREE and comprehensive REIT Guide!
