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Singaporean (SGX) REITS Industry Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies5
  • 7D-1.8%
  • 3M-3.0%
  • 1Y11.2%
  • YTD-3.6%

Over the last 7 days, the REITS industry has dropped 1.8%, driven by a pullback from CapitaLand Integrated Commercial Trust of 4.2%. On the other hand Suntec Real Estate Investment Trust is actually up 11%. This takes the industry's 12 month performance to a gain of 11%. As for the next few years, earnings are expected to grow by 1.5% per annum.

Industry Valuation and Performance

Has the Singaporean REITS Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 26 Mar 2026S$31.8bS$3.6bS$1.9b18.9x16.9x8.8x
Sat, 21 Feb 2026S$33.3bS$3.6bS$1.9b19.7x17.9x9.2x
Mon, 19 Jan 2026S$33.3bS$3.6bS$1.6b18.2x20.6x9.3x
Wed, 17 Dec 2025S$32.3bS$3.6bS$1.6b16.9x20x9.1x
Fri, 14 Nov 2025S$32.3bS$3.6bS$1.6b16x20x9.1x
Sun, 12 Oct 2025S$32.1bS$3.6bS$1.5b15.8x21.3x9x
Tue, 09 Sep 2025S$31.6bS$3.6bS$1.5b16.4x20.9x8.9x
Thu, 07 Aug 2025S$29.6bS$3.6bS$1.5b17x19.9x8.3x
Sat, 05 Jul 2025S$28.6bS$3.6bS$1.6b21.5x17.9x8x
Mon, 02 Jun 2025S$11.9bS$2.0bS$658.8m26.2x18.1x5.9x
Wed, 30 Apr 2025S$12.2bS$2.0bS$659.6m25.4x18.5x6.1x
Fri, 28 Mar 2025S$12.5bS$2.0bS$521.5m25.4x24x6.2x
Sun, 23 Feb 2025S$11.8bS$2.0bS$459.5m21.7x25.7x5.9x
Tue, 21 Jan 2025S$12.5bS$2.0bS$817.5m13.9x15.3x6.3x
Thu, 19 Dec 2024S$5.8bS$1.0bS$359.4m13x16.3x5.7x
Sat, 16 Nov 2024S$5.8bS$1.0bS$359.4m12.9x16.2x5.7x
Mon, 14 Oct 2024S$6.3bS$1.0bS$359.4m14.2x17.6x6.1x
Wed, 11 Sep 2024S$6.2bS$1.0bS$359.4m14x17.3x6x
Fri, 09 Aug 2024S$5.7bS$1.0bS$359.4m12.9x15.9x5.6x
Sun, 07 Jul 2024S$5.3bS$1.0bS$290.9m12.8x18.4x5.3x
Tue, 04 Jun 2024S$5.4bS$1.0bS$290.9m12.9x18.7x5.4x
Thu, 02 May 2024S$5.5bS$1.0bS$293.1m12.9x18.7x5.4x
Sat, 30 Mar 2024S$5.5bS$1.0bS$531.5m7.8x10.3x5.4x
Mon, 26 Feb 2024S$5.6bS$1.0bS$402.2m19.7x13.9x5.5x
Wed, 24 Jan 2024S$10.0bS$1.5bS$569.8m18.7x17.5x6.7x
Fri, 22 Dec 2023S$10.1bS$1.5bS$569.8m19x17.7x6.8x
Sun, 19 Nov 2023S$9.6bS$1.5bS$507.8m12.5x18.9x6.4x
Tue, 17 Oct 2023S$9.5bS$1.5bS$507.8m12.7x18.7x6.3x
Thu, 14 Sep 2023S$9.7bS$1.5bS$507.8m13.4x19.2x6.5x
Sat, 12 Aug 2023S$10.3bS$1.5bS$576.5m17.9x17.8x6.9x
Mon, 10 Jul 2023S$10.4bS$1.5bS$792.6m15x13.2x6.9x
Wed, 07 Jun 2023S$10.7bS$1.5bS$792.6m15.2x13.5x7x
Fri, 05 May 2023S$10.9bS$1.5bS$792.6m15.2x13.8x7.2x
Sun, 02 Apr 2023S$10.9bS$1.5bS$792.6m15.2x13.8x7.2x
Price to Earnings Ratio

13.8x


Total Market Cap: S$10.9bTotal Earnings: S$792.6mTotal Revenue: S$1.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean REITS Industry Price to Earnings3Y Average 18x202420252026
Current Industry PE
  • Investors are relatively neutral on the Singaporean REITs industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 18.0x.
  • The 3-year average PS ratio of 6.8x is lower than the industry's current PS ratio of 8.8x.
Past Earnings Growth
  • The earnings for companies in the REITs industry have grown 33% per year over the last three years.
  • Revenues for these companies have grown 33% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

SG Market-1.70%
Real Estate-2.99%
REITS-1.79%
Residential REITs0%0
Specialized REITs0%0
Healthcare REITs-1.36%
Diversified REITs-1.79%
Hotel and Resort REITs-1.97%
Retail REITs-2.25%
Office REITs-2.60%
Industrial REITs-3.01%
Industry PE
  • Investors are most optimistic about the Hotel and Resort REITs industry which is trading above its 3-year average PE ratio of 16.7x.
    • Analysts expect its future annual earnings growth (5.0%) to be largely in line with prior year's earnings growth.
  • Investors are most pessimistic about the Diversified REITs industry, which is trading close to its 3-year average of 18.0x.
Forecasted Growth
  • Analysts are most optimistic on the Retail REITs industry, expecting annual earnings growth of 11% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Healthcare REITs industry is expected to see its earnings decline by 9.3% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
T82U Suntec Real Estate Investment TrustS$1.5510.7%
+S$443.3m		32.5%PB0.7x

Latest News

C38U
S$2.30
CapitaLand Integrated Commercial Trust
7D
-4.2%
1Y
9.0%

C38U: Future Returns Will Reflect Hougang Joint Development And Yield Appeal

Analysts have slightly increased their fair value estimate for CapitaLand Integrated Commercial Trust by SGD0.01 to SGD2.62, citing updated assumptions on the discount rate, revenue growth, profit margins and future P/E multiples. What's in the News CICT, through Horizon Commercial Trust and Horizon Residential Pte.
TS0U
S$0.36
OUE Real Estate Investment Trust
7D
-1.4%
1Y
26.3%
N2IU
S$1.32
Mapletree Pan Asia Commercial Trust
7D
-4.3%
1Y
3.9%

N2IU: Future Payout Timing And Revised Metrics Will Guide Balanced Return Potential

Analysts have raised their SGD 1.15 price target on Mapletree Pan Asia Commercial Trust to SGD 1.35, reflecting updated assumptions for the discount rate, revenue growth, profit margins and future P/E multiples in their valuation work. What's in the News Distribution per Unit for 1 October 2025 to 31 December 2025 set at S$0.0205, made up of S$0.0160 taxable income, S$0.0042 tax exempt income and S$0.0003 capital per unit (Key Developments).
SET
€1.50
Stoneweg Europe Stapled Trust
7D
-3.8%
1Y
0%
T82U
S$1.55
Suntec Real Estate Investment Trust
7D
10.7%
1Y
32.5%