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Singaporean (SGX) REITS Industry Analysis

UpdatedDec 23, 2025
DataAggregated Company Financials
Companies5
  • 7D1.3%
  • 3M2.9%
  • 1Y20.9%
  • YTD19.2%

All of the companies in the REITS industry have been up over the last week, with the industry up 1.3%. This takes the industry's 12 month performance to a gain of 21%. Looking forward, earnings are forecast to grow by 6.5% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025S$32.6bS$3.6bS$1.6b16.9x20.2x9.2x
Fri, 21 Nov 2025S$32.4bS$3.6bS$1.6b16x20x9.1x
Sun, 19 Oct 2025S$32.4bS$3.6bS$1.5b16x21.4x9.1x
Tue, 16 Sep 2025S$32.0bS$3.6bS$1.5b16.4x21.2x9x
Thu, 14 Aug 2025S$29.6bS$3.6bS$1.5b16.6x19.6x8.3x
Sat, 12 Jul 2025S$28.3bS$3.6bS$1.6b21.4x17.8x7.9x
Mon, 09 Jun 2025S$12.0bS$2.0bS$658.8m27.9x18.3x6x
Wed, 07 May 2025S$12.1bS$2.0bS$658.8m26.5x18.4x6.1x
Fri, 04 Apr 2025S$12.6bS$2.0bS$521.5m25.8x24.2x6.3x
Sun, 02 Mar 2025S$11.9bS$2.0bS$523.8m23.8x22.7x5.9x
Tue, 28 Jan 2025S$12.4bS$2.0bS$742.8m13.8x16.7x6.1x
Thu, 26 Dec 2024S$5.9bS$1.0bS$359.4m13.1x16.4x5.7x
Sat, 23 Nov 2024S$5.8bS$1.0bS$359.4m12.8x16.1x5.6x
Mon, 21 Oct 2024S$6.4bS$1.0bS$359.4m14.3x17.7x6.2x
Wed, 18 Sep 2024S$6.6bS$1.0bS$359.4m15x18.5x6.4x
Fri, 16 Aug 2024S$5.7bS$1.0bS$359.4m12.8x15.7x5.5x
Sun, 14 Jul 2024S$5.7bS$1.0bS$290.9m13.8x19.7x5.6x
Tue, 11 Jun 2024S$5.4bS$1.0bS$290.9m12.8x18.7x5.4x
Thu, 09 May 2024S$5.5bS$1.0bS$290.9m12.9x18.8x5.4x
Sat, 06 Apr 2024S$5.6bS$1.0bS$531.5m7.6x10.6x5.5x
Mon, 04 Mar 2024S$5.6bS$1.0bS$531.5m7.4x10.5x5.5x
Wed, 31 Jan 2024S$10.1bS$1.5bS$421.2m22.3x24x7x
Fri, 29 Dec 2023S$10.3bS$1.5bS$569.8m19.2x18x6.9x
Sun, 26 Nov 2023S$9.7bS$1.5bS$507.8m12.7x19x6.5x
Tue, 24 Oct 2023S$9.4bS$1.5bS$507.8m12.4x18.5x6.3x
Thu, 21 Sep 2023S$9.7bS$1.5bS$507.8m13.6x19.2x6.5x
Sat, 19 Aug 2023S$10.0bS$1.5bS$507.8m13.5x19.8x6.7x
Mon, 17 Jul 2023S$10.6bS$1.5bS$792.6m15.3x13.4x7x
Wed, 14 Jun 2023S$10.6bS$1.5bS$792.6m15.2x13.3x6.9x
Fri, 12 May 2023S$10.8bS$1.5bS$792.6m15.1x13.6x7.1x
Sun, 09 Apr 2023S$11.1bS$1.5bS$792.6m15.7x14x7.3x
Tue, 07 Mar 2023S$100.7bS$12.4bS$6.8b14.6x14.9x8.1x
Thu, 02 Feb 2023S$106.4bS$11.7bS$7.7b11.9x13.9x9.1x
Sat, 31 Dec 2022S$99.7bS$11.6bS$7.9b11.4x12.6x8.6x
Price to Earnings Ratio

12.6x


Total Market Cap: S$99.7bTotal Earnings: S$7.9bTotal Revenue: S$11.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean REITS Industry Price to Earnings3Y Average 17.6x202320242025
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 20.2x which is higher than its 3-year average PE of 17.6x.
  • The 3-year average PS ratio of 6.8x is lower than the industry's current PS ratio of 9.2x.
Past Earnings Growth
  • The earnings for companies in the REITs industry have declined 41% 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 Market0.38%
Real Estate0.70%
REITS1.27%
Diversified REITs1.27%
Hotel and Resort REITs0.72%
Office REITs0.15%
Industrial REITs0.14%
Residential REITs0%0
Specialized REITs0%0
Retail REITs-0.26%
Healthcare REITs-0.33%
Industry PE
  • Investors are most optimistic about the Hotel and Resort REITs industry which is trading above its 3-year average PE ratio of 15.8x.
    • Analysts are expecting annual earnings growth of 12.4%, 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
C38U CapitaLand Integrated Commercial TrustS$2.350.9%
+S$152.2m		21.1%PB1.1x
T82U Suntec Real Estate Investment TrustS$1.432.1%
+S$88.4m		20.2%PB0.7x
N2IU Mapletree Pan Asia Commercial TrustS$1.450.7%
+S$52.8m		19.8%PB0.8x

Latest News

C38U
S$2.35
CapitaLand Integrated Commercial Trust
7D
0.9%
1Y
21.1%

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

Analysts have raised their price target on CapitaLand Integrated Commercial Trust from S$2.52 to S$2.59, citing the REIT's scale, its relatively lower dividend yield versus peers, and its stronger positioning to capitalize on acquisition opportunities. Analyst Commentary Analyst sentiment around CapitaLand Integrated Commercial Trust remains skewed to the upside, with recent upgrades reflecting confidence in its ability to leverage its size and funding access for accretive growth.
N2IU
S$1.45
Mapletree Pan Asia Commercial Trust
7D
0.7%
1Y
19.8%

N2IU: Lower Discount Rate May Support Stronger Unit Pricing Ahead

Analysts have nudged their price target for Mapletree Pan Asia Commercial Trust slightly higher to approximately $1.79 from about $1.77. This reflects a lower discount rate and modestly higher anticipated valuation multiples, despite slightly softer assumptions for revenue growth and profit margins.
TS0U
S$0.35
OUE Real Estate Investment Trust
7D
-1.4%
1Y
25.0%
T82U
S$1.43
Suntec Real Estate Investment Trust
7D
2.1%
1Y
20.2%