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Singaporean (SGX) REITS Industry Analysis

UpdatedJan 23, 2026
DataAggregated Company Financials
Companies5
  • 7D-0.9%
  • 3M0.7%
  • 1Y21.3%
  • YTD0.4%

In the last week, REITS has been flat. As for the the longer term, the industry is up 22% over the past 12 months. As for the next few years, earnings are expected to grow by 7.2% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 23 Jan 2026S$33.0bS$3.6bS$1.6b18.1x20.4x9.3x
Sun, 21 Dec 2025S$32.7bS$3.6bS$1.6b17x20.2x9.2x
Tue, 18 Nov 2025S$32.3bS$3.6bS$1.6b16x20x9.1x
Thu, 16 Oct 2025S$32.2bS$3.6bS$1.5b15.8x21.3x9x
Sat, 13 Sep 2025S$32.0bS$3.6bS$1.5b16.4x21.2x9x
Mon, 11 Aug 2025S$29.8bS$3.6bS$1.5b17.1x20x8.4x
Wed, 09 Jul 2025S$28.1bS$3.6bS$1.6b21.4x17.6x7.8x
Fri, 06 Jun 2025S$11.9bS$2.0bS$658.8m27.4x18.1x6x
Sun, 04 May 2025S$12.2bS$2.0bS$658.8m26x18.5x6.1x
Tue, 01 Apr 2025S$12.5bS$2.0bS$521.5m25.4x23.9x6.2x
Thu, 27 Feb 2025S$11.9bS$2.0bS$459.5m21.7x26x5.9x
Sat, 25 Jan 2025S$12.4bS$2.0bS$473.7m22.6x26.1x6.2x
Mon, 23 Dec 2024S$5.8bS$1.0bS$359.4m12.8x16.1x5.6x
Wed, 20 Nov 2024S$5.8bS$1.0bS$359.4m12.7x16.1x5.6x
Fri, 18 Oct 2024S$6.3bS$1.0bS$359.4m14.1x17.6x6.1x
Sun, 15 Sep 2024S$6.4bS$1.0bS$359.4m14.4x17.8x6.2x
Tue, 13 Aug 2024S$5.7bS$1.0bS$359.4m12.9x15.9x5.5x
Thu, 11 Jul 2024S$5.4bS$1.0bS$290.9m12.9x18.4x5.3x
Sat, 08 Jun 2024S$5.4bS$1.0bS$290.9m12.9x18.7x5.4x
Mon, 06 May 2024S$5.4bS$1.0bS$290.9m12.7x18.5x5.3x
Wed, 03 Apr 2024S$5.5bS$1.0bS$531.5m7.6x10.4x5.4x
Fri, 01 Mar 2024S$5.6bS$1.0bS$531.5m7.2x10.6x5.5x
Sun, 28 Jan 2024S$10.0bS$1.5bS$481.8m22.2x20.8x6.8x
Tue, 26 Dec 2023S$10.1bS$1.5bS$569.8m19x17.8x6.8x
Thu, 23 Nov 2023S$9.7bS$1.5bS$507.8m12.7x19.1x6.5x
Sat, 21 Oct 2023S$9.4bS$1.5bS$507.8m12.5x18.6x6.3x
Mon, 18 Sep 2023S$9.7bS$1.5bS$507.8m13.6x19.1x6.5x
Wed, 16 Aug 2023S$10.2bS$1.5bS$576.5m17.7x17.7x6.8x
Fri, 14 Jul 2023S$10.6bS$1.5bS$792.6m15.2x13.4x7x
Sun, 11 Jun 2023S$10.7bS$1.5bS$792.6m15.3x13.5x7x
Tue, 09 May 2023S$10.9bS$1.5bS$792.6m15.2x13.8x7.2x
Thu, 06 Apr 2023S$11.1bS$1.5bS$792.6m15.6x14x7.3x
Sat, 04 Mar 2023S$101.3bS$12.4bS$6.8b14.9x14.9x8.2x
Mon, 30 Jan 2023S$107.1bS$11.7bS$7.5b12.2x14.4x9.2x
Price to Earnings Ratio

14.4x


Total Market Cap: S$107.1bTotal Earnings: S$7.5bTotal Revenue: S$11.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean REITS Industry Price to Earnings3Y Average 17.9x202420252026
Current Industry PE
  • Investors are optimistic on the Singaporean REITs industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 20.5x which is higher than its 3-year average PE of 17.9x.
  • The 3-year average PS ratio of 6.8x is lower than the industry's current PS ratio of 9.3x.
Past Earnings Growth
  • The earnings for companies in the REITs industry have declined 40% per year over the last three years,
  • Revenues have also declined 33% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

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

SG Market0.033%
Real Estate0.47%
REITS-0.91%
Industrial REITs0.84%
Retail REITs0.23%
Residential REITs0%0
Specialized REITs0%0
Hotel and Resort REITs-0.16%
Healthcare REITs-0.59%
Diversified REITs-0.91%
Office REITs-1.73%
Industry PE
  • Investors are most optimistic about the Hotel and Resort REITs industry which is trading above its 3-year average PE ratio of 16.1x.
    • Analysts are expecting annual earnings growth of 11.9%, which is higher than its past year's earnings decline of 37.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 17% over the next 5 years.
  • However this is lower than its past earnings growth rate of 28% per year.
  • In contrast, the Healthcare REITs industry is expected to see its earnings grow by 4.7% 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
N2IU Mapletree Pan Asia Commercial TrustS$1.480.7%
+S$52.8m		24.4%PB0.8x

Latest News

T82U
S$1.42
Suntec Real Estate Investment Trust
7D
-0.7%
1Y
17.4%
N2IU
S$1.48
Mapletree Pan Asia Commercial Trust
7D
0.7%
1Y
24.4%

N2IU: Slight Assumption Tweaks Will Support Stronger Unit Pricing Ahead

Analysts have made only a very small adjustment to their price target for Mapletree Pan Asia Commercial Trust. This reflects slightly updated assumptions for discount rate, revenue growth, profit margin, and future P/E, rather than a major change in view.
C38U
S$2.37
CapitaLand Integrated Commercial Trust
7D
-1.7%
1Y
22.2%

C38U: Future Returns Will Reflect Scale Led Acquisitions And Yield Trade Off

Analysts have raised their price target for CapitaLand Integrated Commercial Trust to S$2.59 from S$2.31, citing its scale and relatively lower dividend yield as reasons they see it as better positioned to pursue acquisition opportunities. Analyst Commentary Goldman Sachs has upgraded CapitaLand Integrated Commercial Trust to Buy from Neutral, with a higher price target of S$2.59, up from S$2.31.
TS0U
S$0.36
OUE Real Estate Investment Trust
7D
-1.4%
1Y
21.7%