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Singaporean (SGX) Industrial REITs Industry Analysis

UpdatedJul 25, 2026
DataAggregated Company Financials
Companies9
  • 7D0.03%
  • 3M-2.4%
  • 1Y-3.7%
  • YTD-8.0%

In the last week, the Industrial REITs industry is up 1.2%, with ESR-REIT up 7.0%. In contrast, the industry has lost 3.4% in the last 12 months. Looking forward, earnings are forecast to grow by 7.2% annually.

Industry Valuation and Performance

Has the Singaporean Industrial REITs Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 25 Jul 2026S$33.2bS$4.3bS$1.7b16.5x19.3x7.7x
Mon, 22 Jun 2026S$33.2bS$4.4bS$1.7b16.5x19.3x7.6x
Wed, 20 May 2026S$32.5bS$4.4bS$1.7b16.2x18.9x7.4x
Fri, 17 Apr 2026S$33.9bS$4.3bS$1.7b17.9x20.2x7.8x
Sun, 15 Mar 2026S$30.9bS$4.2bS$1.6b17.2x19.3x7.3x
Tue, 10 Feb 2026S$33.8bS$4.2bS$1.5b26.7x21.8x8x
Thu, 08 Jan 2026S$34.1bS$4.2bS$1.4b19x24.1x8.2x
Sat, 06 Dec 2025S$33.2bS$4.2bS$1.4b18.4x23.5x8x
Mon, 03 Nov 2025S$33.9bS$4.2bS$1.3b26.9x25.3x8.1x
Wed, 01 Oct 2025S$33.2bS$4.2bS$1.3b26.7x25.2x7.9x
Fri, 29 Aug 2025S$32.0bS$4.2bS$1.3b25.3x24.4x7.7x
Sun, 27 Jul 2025S$32.1bS$4.2bS$1.3b24.4x24.2x7.7x
Tue, 24 Jun 2025S$30.1bS$4.2bS$1.3b22.9x22.6x7.2x
Thu, 22 May 2025S$29.1bS$4.2bS$1.3b22.4x21.8x6.9x
Sat, 19 Apr 2025S$30.1bS$4.1bS$1.2b22.4x24.4x7.3x
Mon, 17 Mar 2025S$31.3bS$4.1bS$1.2b23.3x25.3x7.6x
Wed, 12 Feb 2025S$30.7bS$4.1bS$1.3b22.4x24.5x7.4x
Fri, 10 Jan 2025S$31.3bS$4.1bS$689.5m23.8x45.4x7.6x
Sun, 08 Dec 2024S$31.7bS$4.1bS$689.5m23.2x46x7.7x
Tue, 05 Nov 2024S$33.6bS$4.1bS$412.6m25.5x81.4x8.2x
Thu, 03 Oct 2024S$35.8bS$4.1bS$446.2m25.5x80.2x8.7x
Sat, 31 Aug 2024S$34.4bS$4.1bS$446.2m24.2x77.2x8.4x
Mon, 29 Jul 2024S$32.3bS$4.1bS$457.5m23.5x70.6x7.9x
Wed, 26 Jun 2024S$31.5bS$4.1bS$464.0m23x68x7.7x
Fri, 24 May 2024S$32.6bS$4.1bS$494.6m22.4x66x8x
Sun, 21 Apr 2024S$31.7bS$4.1bS$907.8m18.1x34.9x7.8x
Tue, 19 Mar 2024S$33.2bS$4.1bS$918.0m18.1x36.1x8.2x
Thu, 15 Feb 2024S$34.4bS$4.1bS$908.4m18.5x37.9x8.5x
Sat, 13 Jan 2024S$37.4bS$4.1bS$1.6b15.2x22.8x9.2x
Mon, 11 Dec 2023S$35.8bS$4.1bS$1.6b14.8x21.9x8.8x
Wed, 08 Nov 2023S$34.3bS$4.1bS$1.6b14.1x20.9x8.4x
Fri, 06 Oct 2023S$34.3bS$4.1bS$2.3b11.3x14.7x8.4x
Sun, 03 Sep 2023S$35.9bS$4.1bS$2.3b11.9x15.4x8.8x
Tue, 01 Aug 2023S$36.4bS$4.0bS$2.4b15.5x15x9x
Price to Earnings Ratio

15x


Total Market Cap: S$36.4bTotal Earnings: S$2.4bTotal Revenue: S$4.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Industrial REITs Industry Price to Earnings3Y Average 33.8x202420252026
Current Industry PE
  • Investors are pessimistic on the Singaporean Industrial REITs industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 19.4x which is lower than its 3-year average PE of 33.8x.
  • The industry is trading close to its 3-year average PS ratio of 8.0x.
Past Earnings Growth
  • The earnings for companies in the Industrial REITs industry have declined 11% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.5% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Singaporean Real Estate industry?

SG Market1.36%
Real Estate-0.062%
Industrial REITs0.033%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
9A4U ESR-REITS$2.457.0%
+S$129.3m		-5.4%PB0.8x
BUOU Frasers Logistics & Commercial TrustS$0.981.5%
+S$57.0m		13.2%PB0.9x
UIBU UI Boustead Real Estate Investment TrustS$0.830.6%
+S$6.8m		n/aPB1x
M1GU Alpha Integrated Real Estate Investment TrustS$0.521.0%
+S$5.6m		22.4%PB1x

Latest News

M1GU
S$0.52
Alpha Integrated Real Estate Investment Trust
7D
1.0%
1Y
22.4%
ME8U
S$1.93
Mapletree Industrial Trust
7D
-0.5%
1Y
-6.3%
Narrative Update • Jul 23

ME8U: Higher P E Multiple And Stable Dpu Outlook Will Shape Returns

Analysts have raised the fair value estimate for Mapletree Industrial Trust from SGD1.67 to SGD1.82, reflecting updated assumptions around a slightly lower discount rate, a modest adjustment to long term revenue and margin expectations, and a higher future P/E multiple. What's in the News Mapletree Industrial Trust declared a distribution of 3.09 Singapore cents per unit for the fourth quarter of financial year 2025/2026, covering the period from 1 January 2026 to 31 March 2026.
BUOU
S$0.98
Frasers Logistics & Commercial Trust
7D
1.5%
1Y
13.2%
M44U
S$1.20
Mapletree Logistics Trust
7D
-0.8%
1Y
0.8%
UIBU
S$0.83
UI Boustead Real Estate Investment Trust
7D
0.6%
1Y
n/a
O5RU
S$1.64
AIMS APAC REIT
7D
-0.6%
1Y
19.7%
9A4U
S$2.45
ESR-REIT
7D
7.0%
1Y
-5.4%
A17U
S$2.49
CapitaLand Ascendas REIT
7D
-0.8%
1Y
-10.8%