SGX Market Updates

REIT Watch - 24 S-REITs Confirm Schedule for Upcoming Earnings Season

SGX
Publish date: Mon, 20 Jan 2025, 06:40 PM

Schedule of S-REITs Earnings or Business Updates

NameRelease dateRelease timeFor PeriodType
Mapletree Logistics Trust21-JanAfter market3QFinancial Results
Sabana Industrial REIT21-JanAfter marketFYFinancial Results
Frasers Centrepoint Trust22-JanAfter market1QBusiness Update
Mapletree Industrial Trust22-JanAfter market3QFinancial Results
Starhill Global REIT23-JanAfter market1HFinancial Results
Mapletree Pan Asia Commercial Trust23-JanAfter market3QFinancial Results
OUE REIT23-JanAfter marketFYFinancial Results
Suntec REIT23-JanAfter marketFYFinancial Results
Keppel DC REIT24-JanBefore marketFYFinancial Results
ESR REIT24-JanBefore marketFYFinancial Results
CapitaLand Ascott Trust27-JanBefore marketFYFinancial Results
CDL Hospitality Trusts27-JanBefore marketFYFinancial Results
CapitaLand India Trust*27-JanAfter marketFYFinancial Results
Keppel REIT27-JanAfter marketFYFinancial Results
AIMS APAC REIT28-JanBefore market3QBusiness Update
Lendlease Global Commercial REIT3-FebAfter market1HFinancial Results
Keppel Pacific Oak US REIT4-FebBefore marketFYFinancial Results
CapitaLand Integrated Commercial Trust5-FebBefore marketFYFinancial Results
CapitaLand Ascendas REIT6-FebAfter marketFYFinancial Results
CapitaLand China Trust6-FebBefore marketFYFinancial Results
Elite UK REIT10-FebBefore marketFYFinancial Results
Digital Core REIT 12-FebAfter marketFYFinancial Results
United Hampshire US REIT19-FebAfter marketFYFinancial Results
Sasseur REIT20-FebBefore marketFYFinancial Results

Source: Company announcements (as of 17 Jan 2025). *CapitaLand India Trust is a property trust.

More than half, or 24 Singapore real estate investment trusts (S-REITs) have confirmed that they will unveil financial results or business updates starting this week for their respective periods ending 31 December 2024. Among them, 17 S-REITs will report full year financial results, five will report first half or third quarter financial year results, and another two will provide quarterly business updates.

Both Sabana Industrial REIT (Sabana) and Mapletree Logistics Trust (MLT) will kick off the current financial reporting season on Tuesday for S-REITs with the release of its full financial year results and third quarter financial year results respectively.

In Sabana’s earlier third quarter business updates, portfolio occupancy increased from 78.8 per cent to 84.9 per cent as at 30 September 2024. New leases covered 313,953 sq ft, and renewed leases covered 15,974 sq ft resulting in a positive 9.7 per cent rental reversion for renewals. Sabana has maintained positive quarterly rental reversions since Q1 2021.

MLT reported lower distribution per unit of 4.095 cents for the first half of FY24/25 in its earlier financial results. Nevertheless, MLT observed stable operational performance with a portfolio occupancy rate of 96.0 percent and recorded positive rental reversions across most markets.

S-REITs have recorded gains of 0.8 percent over the first 12 trading days of 2025. Potential tailwinds for the sector include forecasts for interest rate cuts from the US Federal Reserve, moderate improvement in core inflation in December’s consumer price index data, and stronger earnings previews this earnings season.

US Federal Reserve Governor Christopher Waller indicated last Thursday that the central bank could lower interest rates multiple times this year if inflation eases. He anticipates the first cut to come in the first half of the year, with others to follow “as long as the data comes in good on inflation or continues on that path”.

According to the CME Fed Watch Tool, the market anticipates nearly a 50 per cent probability of an interest rate cut in May and over a 70 per cent likelihood of such a cut in June.

For more research and information on Singapore’s REIT sector, visit sgx.com/research-education/sectors for the SREITs & Property Trusts Chartbook.

REIT Watch is a regular column on The Business Times, read the original version.

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