10 Outperforming S-REITs in 1H2023

Stock Screening

Singapore Exchange (SGX) Market Updates section shared on the 10 outperforming Singapore Listed REITs (S-REITs) in the first half of 2023 (1H2023). I thought it will be interesting to share and I wonder what indicators they use to identify these 10 outperforming S-REITs.

According to the article, the iEdge S-REIT Index generated 2.1% in total returns in the first half of 2023. The iEdge S-REIT index outperformed the Straits Times Index’s 1.2 per cent and the FTSE EPRA Nareit Asia ex Japan Index’s -1.7 per cent.

If you do not know what iEdge S-REIT Index is, the iEdge S-REIT Index is a narrow, tradable, adjusted free-float market capitalisation weighted index that measures the performance of the most liquid real estate investment trusts in Singapore in SGD.

iEdge S-REIT Index SGD 21 July 2023

Here are the 10 outperforming S-REITs in 1H2023 that was shared. The current dividend yield seems outdated. Thus, I have replaced the current dividend yield with the percentage taken from Stocks Café on 21st July 2023.

10 Outperforming S-REITs in 1H2023

Keppel DC Reit (SGX:AJBU)
Total returns in 1H2023: 25.1%
Sub-sector: Specialised
Market Capitalisation (S$M): 3,837
Price to book ratio: 1.59
Current Dividend Yield: 4.46%

Cromwell European Reit (SGX:CWBU)
Total returns in 1H2023: 12.4%
Sub-sector: Diversified
Market Capitalisation (S$M): 1,309
Price to book ratio: 0.65
Current Dividend Yield: 10.95%

Frasers Logistics & Commercial Trust (SGX:BUOU)
Total returns in 1H2023: 10.7%
Sub-sector: Diversified
Market Capitalisation (S$M): 4,729
Price to book ratio: 1.00
Current Dividend Yield: 5.65%

Frasers Hospitality Trust (SGX:ACV)
Total returns in 1H2023: 8.4%
Sub-sector: Hospitality
Market Capitalisation (S$M): 905
Price to book ratio: 0.73
Current Dividend Yield: 4.67%

Paragon Reit (SGX:SK6U)
Total returns in 1H2023: 8.0%
Sub-sector: Retail
Market Capitalisation (S$M): 2,678
Price to book ratio: 0.93
Current Dividend Yield: 4.83%

Frasers Centrepoint Trust (SGX:J69U)
Total returns in 1H2023: 7.2%
Sub-sector: Retail
Market Capitalisation (S$M): 3,757
Price to book ratio: 0.94
Current Dividend Yield: 5.56%

AIMS APAC Reit (SGX:O5RU)
Total returns in 1H2023: 5.6%
Sub-sector: Industrial
Market Capitalisation (S$M): 1,002
Price to book ratio: 0.91
Current Dividend Yield: 9.47%

ParkwayLife Reit (SGX:C2PU)
Total returns in 1H2023: 5.6%
Sub-sector: Healthcare
Market Capitalisation (S$M): 2,281
Price to book ratio: 1.62
Current Dividend Yield: 3.75%

CapitaLand India Trust (SGX:CY6U)
Total returns in 1H2023: 5.2%
Sub-sector: Diversified
Market Capitalisation (S$M): 1,332
Price to book ratio: 1.02
Current Dividend Yield: 7.06%

CapitaLand Ascott Trust (SGX:HMN)
Total returns in 1H2023: 5.0%
Sub-sector: Hospitality
Market Capitalisation (S$M): 3,878
Price to book ratio: 0.97
Current Dividend Yield: 5.20%

My Thoughts on The 10 Outperforming S-REITs in 1H2023

Even though these are the top 10 outperformed S-REITs in 1H 2023, we must do our due diligence before buying them.

In the list shared above, I do have some of these REITs such as Frasers Logistics & Commercial Trust (SGX:BUOU), Paragon Reit (SGX:SK6U), Frasers Centrepoint Trust (SGX:J69U) and ParkwayLife Reit (SGX:C2PU) in my stock portfolio.

Do not solely depend on current dividend yield and buy into the REIT. The higher the dividend yield, the higher the risk involved.

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