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Singaporean (SGX) REITS Industry Analysis

UpdatedApr 08, 2026
DataAggregated Company Financials
Companies5
  • 7D1.1%
  • 3M-4.2%
  • 1Y17.8%
  • YTD-3.4%

Over the last 7 days, the REITS industry has risen 1.1%, driven by gains from CapitaLand Integrated Commercial Trust of 2.2%. In the last 12 months, the industry was up 18%. Earnings are forecast to grow by 1.5% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 08 Apr 2026S$31.8bS$3.6bS$1.9b18.8x16.9x8.8x
Fri, 06 Mar 2026S$32.5bS$3.6bS$1.9b19.4x17.3x9x
Sun, 01 Feb 2026S$33.1bS$3.6bS$1.9b18.8x17.5x9.3x
Tue, 30 Dec 2025S$32.8bS$3.6bS$1.6b17.2x20.3x9.2x
Thu, 27 Nov 2025S$32.3bS$3.6bS$1.6b16x20x9.1x
Sat, 25 Oct 2025S$32.8bS$3.6bS$1.6b16.2x20.3x9.2x
Mon, 22 Sep 2025S$31.5bS$3.6bS$1.5b16.3x20.9x8.8x
Wed, 20 Aug 2025S$30.5bS$3.6bS$1.5b16.6x20.2x8.6x
Fri, 18 Jul 2025S$29.5bS$3.8bS$1.6b21.7x18.6x7.8x
Sun, 15 Jun 2025S$12.1bS$2.0bS$658.8m26.7x18.4x6.1x
Tue, 13 May 2025S$12.1bS$2.0bS$658.8m26.3x18.4x6x
Thu, 10 Apr 2025S$11.2bS$2.0bS$521.5m23.7x21.5x5.6x
Sat, 08 Mar 2025S$11.8bS$2.0bS$521.5m24.4x22.7x5.9x
Mon, 03 Feb 2025S$12.4bS$2.0bS$459.5m22.6x26.9x6.1x
Wed, 01 Jan 2025S$5.9bS$1.0bS$359.4m13x16.3x5.7x
Fri, 29 Nov 2024S$5.8bS$1.0bS$359.4m12.7x16.1x5.6x
Sun, 27 Oct 2024S$6.1bS$1.0bS$359.4m13.6x17x5.9x
Tue, 24 Sep 2024S$6.6bS$1.0bS$359.4m14.8x18.3x6.4x
Thu, 22 Aug 2024S$5.8bS$1.0bS$359.4m13.2x16.3x5.7x
Sat, 20 Jul 2024S$5.7bS$1.0bS$290.9m14.1x19.8x5.7x
Mon, 17 Jun 2024S$5.3bS$1.0bS$290.9m12.7x18.4x5.3x
Wed, 15 May 2024S$5.5bS$1.0bS$290.9m13.1x19x5.5x
Fri, 12 Apr 2024S$5.6bS$1.0bS$531.5m7.8x10.6x5.5x
Sun, 10 Mar 2024S$5.3bS$1.0bS$531.5m7.2x10.1x5.3x
Tue, 06 Feb 2024S$5.7bS$1.0bS$402.2m19.9x14.1x5.5x
Thu, 04 Jan 2024S$10.2bS$1.5bS$569.8m19x17.9x6.8x
Sat, 02 Dec 2023S$9.7bS$1.5bS$569.8m17.6x17x6.5x
Mon, 30 Oct 2023S$9.3bS$1.5bS$507.8m12.2x18.3x6.2x
Wed, 27 Sep 2023S$9.7bS$1.5bS$507.8m13.3x19.1x6.5x
Fri, 25 Aug 2023S$9.8bS$1.5bS$507.8m13.4x19.3x6.6x
Sun, 23 Jul 2023S$10.5bS$1.5bS$792.6m15.1x13.3x6.9x
Tue, 20 Jun 2023S$10.8bS$1.5bS$792.6m15.3x13.6x7.1x
Thu, 18 May 2023S$10.8bS$1.5bS$792.6m15x13.6x7.1x
Sat, 15 Apr 2023S$11.2bS$1.5bS$792.6m15.9x14.1x7.4x
Price to Earnings Ratio

14.1x


Total Market Cap: S$11.2bTotal 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 6.8x 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 Market1.59%
Real Estate1.29%
REITS1.09%
Retail REITs2.05%
Industrial REITs1.13%
Diversified REITs1.09%
Office REITs0.92%
Hotel and Resort REITs0.76%
Residential REITs0%0
Specialized REITs0%0
Healthcare REITs-2.33%
Industry PE
  • Investors are most optimistic about the Retail REITs industry, which is trading close to its 3-year average PE ratio of 19.5x.
    • Analysts are expecting annual earnings growth of 11.1%, which is lower than the prior year's growth of 12.8% per year.
  • 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 Office REITs industry is expected to see its earnings decline by 3.7% 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$2.372.2%
+S$381.3m		19.1%PB1.1x
T82U Suntec Real Estate Investment TrustS$1.533.4%
+S$147.8m		44.3%PB0.7x
N2IU Mapletree Pan Asia Commercial TrustS$1.361.5%
+S$105.6m		20.4%PB0.8x
TS0U OUE Real Estate Investment TrustS$0.362.9%
+S$55.2m		44.0%PB0.6x

Latest News

SET
€1.49
Stoneweg Europe Stapled Trust
7D
0%
1Y
6.4%
C38U
S$2.37
CapitaLand Integrated Commercial Trust
7D
2.2%
1Y
19.1%

C38U: Hougang Joint Development Will Support Attractive Future Return Potential

Analysts have kept their SGD fair value estimate for CapitaLand Integrated Commercial Trust unchanged at SGD 2.62, with only minor adjustments to inputs such as the discount rate and assumed future P/E multiple. This reflects a largely steady view on its risk profile and earnings outlook.
T82U
S$1.53
Suntec Real Estate Investment Trust
7D
3.4%
1Y
44.3%
TS0U
S$0.36
OUE Real Estate Investment Trust
7D
2.9%
1Y
44.0%
N2IU
S$1.36
Mapletree Pan Asia Commercial Trust
7D
1.5%
1Y
20.4%

N2IU: Upcoming Distribution Timeline Will Support Stronger Unit Pricing Ahead

Analysts have kept a steady fair value estimate for Mapletree Pan Asia Commercial Trust at about SGD1.81, with slight tweaks to the discount rate, revenue growth, profit margin, and future P/E assumptions guiding a modestly refined price target view. What's in the News Mapletree Pan Asia Commercial Trust announced a Distribution per Unit of 2.05 Singapore cents for the period from 1 October 2025 to 31 December 2025, comprising a taxable income component of 1.60 Singapore cents per Unit, a tax exempt component of 0.42 Singapore cent per Unit and a capital component of 0.03 Singapore cent per Unit (Key Developments).