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Singaporean (SGX) REITS Industry Analysis
UpdatedMar 23, 2026
DataAggregated Company Financials
Companies5
- 7D2.3%
- 3M-0.3%
- 1Y15.0%
- YTD-1.2%
Over the last 7 days, the REITS industry has risen 2.3%, driven by gains in CapitaLand Integrated Commercial Trust and Suntec Real Estate Investment Trust of 2.1% and 10%, respectively. In the last 12 months, the industry was up 15%. 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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 23 Mar 2026 | S$32.6b | S$3.6b | S$1.9b | 19.4x | 17.3x | 9x |
| Wed, 18 Feb 2026 | S$33.1b | S$3.6b | S$1.9b | 19.7x | 17.8x | 9.2x |
| Fri, 16 Jan 2026 | S$33.3b | S$3.6b | S$1.6b | 18.1x | 20.6x | 9.4x |
| Sun, 14 Dec 2025 | S$32.3b | S$3.6b | S$1.6b | 16.8x | 20x | 9.1x |
| Tue, 11 Nov 2025 | S$32.2b | S$3.6b | S$1.6b | 16.4x | 19.9x | 9.1x |
| Thu, 09 Oct 2025 | S$32.3b | S$3.6b | S$1.5b | 15.7x | 21.4x | 9.1x |
| Sat, 06 Sep 2025 | S$31.1b | S$3.6b | S$1.5b | 16.3x | 20.6x | 8.7x |
| Mon, 04 Aug 2025 | S$28.7b | S$3.6b | S$1.5b | 17.2x | 19.8x | 8.1x |
| Wed, 02 Jul 2025 | S$12.5b | S$2.0b | S$659.6m | 25.7x | 18.9x | 6.2x |
| Fri, 30 May 2025 | S$11.8b | S$2.0b | S$658.8m | 25.8x | 18x | 5.9x |
| Sun, 27 Apr 2025 | S$12.1b | S$2.0b | S$659.6m | 24.5x | 18.4x | 6.1x |
| Tue, 25 Mar 2025 | S$12.5b | S$2.0b | S$521.5m | 24.8x | 23.9x | 6.2x |
| Thu, 20 Feb 2025 | S$12.1b | S$2.0b | S$459.5m | 22.2x | 26.2x | 6x |
| Sat, 18 Jan 2025 | S$12.4b | S$2.0b | S$817.5m | 13.8x | 15.2x | 6.3x |
| Mon, 16 Dec 2024 | S$6.0b | S$1.0b | S$359.4m | 13.3x | 16.7x | 5.8x |
| Wed, 13 Nov 2024 | S$5.8b | S$1.0b | S$359.4m | 12.9x | 16.3x | 5.7x |
| Fri, 11 Oct 2024 | S$6.4b | S$1.0b | S$359.4m | 14.3x | 17.7x | 6.2x |
| Sun, 08 Sep 2024 | S$6.2b | S$1.0b | S$359.4m | 13.8x | 17.1x | 6x |
| Tue, 06 Aug 2024 | S$5.7b | S$1.0b | S$309.8m | 12.9x | 18.4x | 5.5x |
| Thu, 04 Jul 2024 | S$5.3b | S$1.0b | S$290.9m | 12.8x | 18.4x | 5.3x |
| Sat, 01 Jun 2024 | S$5.4b | S$1.0b | S$290.9m | 12.8x | 18.6x | 5.3x |
| Mon, 29 Apr 2024 | S$5.5b | S$1.0b | S$293.1m | 12.9x | 18.6x | 5.4x |
| Wed, 27 Mar 2024 | S$5.4b | S$1.0b | S$531.5m | 7.6x | 10.1x | 5.3x |
| Fri, 23 Feb 2024 | S$5.6b | S$1.0b | S$402.2m | 19.7x | 13.9x | 5.5x |
| Sun, 21 Jan 2024 | S$9.9b | S$1.5b | S$569.8m | 18.7x | 17.4x | 6.7x |
| Tue, 19 Dec 2023 | S$10.1b | S$1.5b | S$569.8m | 19.1x | 17.8x | 6.8x |
| Thu, 16 Nov 2023 | S$9.7b | S$1.5b | S$507.8m | 12.7x | 19.1x | 6.5x |
| Sat, 14 Oct 2023 | S$9.5b | S$1.5b | S$507.8m | 12.7x | 18.7x | 6.3x |
| Mon, 11 Sep 2023 | S$9.8b | S$1.5b | S$507.8m | 13.6x | 19.3x | 6.6x |
| Wed, 09 Aug 2023 | S$10.3b | S$1.5b | S$576.5m | 18x | 17.9x | 6.9x |
| Fri, 07 Jul 2023 | S$10.5b | S$1.5b | S$792.6m | 15x | 13.3x | 6.9x |
| Sun, 04 Jun 2023 | S$10.7b | S$1.5b | S$792.6m | 15.4x | 13.5x | 7x |
| Tue, 02 May 2023 | S$10.8b | S$1.5b | S$792.6m | 15.1x | 13.6x | 7.1x |
| Thu, 30 Mar 2023 | S$10.9b | S$1.5b | S$792.6m | 15.1x | 13.7x | 7.2x |
Price to Earnings Ratio
13.7x
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 9.0x.
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 | 1.83% | |
| Real Estate | -0.79% | |
| REITS | 2.31% | |
| Diversified REITs | 2.31% | |
| Healthcare REITs | 1.46% | |
| Retail REITs | 1.07% | |
| Industrial REITs | 1.00% | |
| Office REITs | 0.67% | |
| Hotel and Resort REITs | 0.48% | |
| Residential REITs | 0% | 0 |
| Specialized REITs | 0% | 0 |
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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| C38U CapitaLand Integrated Commercial Trust | S$2.39 | 2.1% +S$414.3m | 14.9% | PB1.1x | |
| T82U Suntec Real Estate Investment Trust | S$1.50 | 10.3% +S$413.8m | 28.2% | PB0.7x | |
| TS0U OUE Real Estate Investment Trust | S$0.36 | 1.4% +S$27.6m | 28.6% | PB0.6x |