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Singaporean (SGX) REITS Industry Analysis

UpdatedApr 15, 2026
DataAggregated Company Financials
Companies5
  • 7D2.5%
  • 3M-2.5%
  • 1Y17.9%
  • YTD-1.0%

In the last week, the REITS industry is up 1.5%, with CapitaLand Integrated Commercial Trust up 3.0%. This means that the industry has gained 20% over the past year. Earnings are forecast to grow by 1.4% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 15 Apr 2026S$32.6bS$3.6bS$1.9b19.4x17.3x9.1x
Fri, 13 Mar 2026S$31.9bS$3.6bS$1.9b19x17x8.9x
Sun, 08 Feb 2026S$33.4bS$3.6bS$1.9b19.9x18x9.3x
Tue, 06 Jan 2026S$32.9bS$3.6bS$1.6b16.7x20.4x9.2x
Thu, 04 Dec 2025S$32.2bS$3.6bS$1.6b16.1x19.9x9x
Sat, 01 Nov 2025S$32.3bS$3.6bS$1.6b15.9x20x9.1x
Mon, 29 Sep 2025S$31.2bS$3.6bS$1.5b15.9x20.7x8.8x
Wed, 27 Aug 2025S$30.9bS$3.6bS$1.5b16.4x20.5x8.7x
Fri, 25 Jul 2025S$28.9bS$3.6bS$1.6b21.9x18.1x8.1x
Sun, 22 Jun 2025S$12.2bS$2.0bS$659.6m25.7x18.5x6.1x
Tue, 20 May 2025S$12.0bS$2.0bS$658.8m26x18.3x6x
Thu, 17 Apr 2025S$11.8bS$2.0bS$521.5m24.2x22.7x5.9x
Sat, 15 Mar 2025S$12.3bS$2.0bS$521.5m23.7x23.6x6.1x
Mon, 10 Feb 2025S$12.1bS$2.0bS$459.5m22.3x26.4x6x
Wed, 08 Jan 2025S$12.4bS$2.0bS$817.5m14x15.1x6.2x
Fri, 06 Dec 2024S$5.9bS$1.0bS$359.4m13x16.4x5.7x
Sun, 03 Nov 2024S$6.0bS$1.0bS$359.4m13.2x16.6x5.8x
Tue, 01 Oct 2024S$6.5bS$1.0bS$359.4m14.7x18.2x6.3x
Thu, 29 Aug 2024S$6.0bS$1.0bS$359.4m13.5x16.7x5.8x
Sat, 27 Jul 2024S$5.8bS$1.0bS$307.0m13.1x18.8x5.7x
Mon, 24 Jun 2024S$5.3bS$1.0bS$290.9m12.6x18.3x5.2x
Wed, 22 May 2024S$5.5bS$1.0bS$290.9m12.9x18.8x5.4x
Fri, 19 Apr 2024S$5.4bS$1.0bS$293.1m12.8x18.5x5.3x
Sun, 17 Mar 2024S$5.3bS$1.0bS$531.5m7.2x9.9x5.2x
Tue, 13 Feb 2024S$5.6bS$1.0bS$402.2m19.9x14x5.5x
Thu, 11 Jan 2024S$10.2bS$1.5bS$569.8m19x17.9x6.8x
Sat, 09 Dec 2023S$9.9bS$1.5bS$569.8m17.8x17.4x6.6x
Mon, 06 Nov 2023S$9.5bS$1.5bS$507.8m12.6x18.8x6.4x
Wed, 04 Oct 2023S$9.5bS$1.5bS$507.8m12.8x18.7x6.4x
Fri, 01 Sep 2023S$9.8bS$1.5bS$507.8m13.5x19.4x6.6x
Sun, 30 Jul 2023S$10.6bS$1.5bS$576.5m18.6x18.4x7.1x
Tue, 27 Jun 2023S$10.6bS$1.5bS$792.6m15.2x13.3x6.9x
Thu, 25 May 2023S$10.8bS$1.5bS$792.6m15.2x13.6x7.1x
Sat, 22 Apr 2023S$11.1bS$1.5bS$792.6m15.5x13.9x7.3x
Price to Earnings Ratio

13.9x


Total Market Cap: S$11.1bTotal Earnings: S$792.6mTotal Revenue: S$1.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean REITS Industry Price to Earnings3Y Average 18.1x202420252026
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 18.1x.
  • The 3-year average PS ratio of 6.9x 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 Market1.30%
Real Estate2.94%
REITS2.49%
Industrial REITs3.81%
Diversified REITs2.49%
Retail REITs2.00%
Hotel and Resort REITs1.99%
Office REITs1.92%
Healthcare REITs1.78%
Residential REITs0%0
Specialized REITs0%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 16.8x.
    • Analysts expect its future annual earnings growth (5.1%) 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 18.1x.
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 3.9% 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$2.383.0%
+S$533.8m		15.0%PB1.1x
N2IU Mapletree Pan Asia Commercial TrustS$1.373.0%
+S$211.2m		16.1%PB0.8x
T82U Suntec Real Estate Investment TrustS$1.500.7%
+S$29.6m		32.7%PB0.7x
TS0U OUE Real Estate Investment TrustS$0.361.4%
+S$27.6m		33.3%PB0.6x

Latest News

N2IU
S$1.37
Mapletree Pan Asia Commercial Trust
7D
3.0%
1Y
16.1%

N2IU: Upcoming Distribution And Stable Fair Value Will Support Stronger Unit Pricing

Analysts have kept their fair value estimate for Mapletree Pan Asia Commercial Trust broadly unchanged at about SGD1.81 per unit. A slightly higher discount rate and modest tweaks to revenue growth, profit margin and future P/E assumptions have shaped the latest price target update.
SET
€1.50
Stoneweg Europe Stapled Trust
7D
0%
1Y
4.9%
C38U
S$2.38
CapitaLand Integrated Commercial Trust
7D
3.0%
1Y
15.0%
T82U
S$1.50
Suntec Real Estate Investment Trust
7D
0.7%
1Y
32.7%
TS0U
S$0.36
OUE Real Estate Investment Trust
7D
1.4%
1Y
33.3%