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Singaporean (SGX) Industrial REITs Industry Analysis

UpdatedJan 15, 2026
DataAggregated Company Financials
Companies8
  • 7D1.4%
  • 3M3.0%
  • 1Y9.4%
  • YTDn/a

In the last week, the Industrial REITs industry is up 1.9%, with Mapletree Logistics Trust up 2.3%. This takes the industry's 12 month performance to a gain of 9.9%. Earnings are forecast to grow by 10% annually.

Industry Valuation and Performance

Has the Singaporean Industrial REITs Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 15 Jan 2026S$34.6bS$4.2bS$1.4b19.2x24.5x8.3x
Sat, 13 Dec 2025S$33.2bS$4.2bS$1.4b18.4x23.5x8x
Mon, 10 Nov 2025S$33.4bS$4.2bS$1.4b18.8x23.6x8x
Wed, 08 Oct 2025S$33.8bS$4.2bS$1.3b27.2x25.7x8.1x
Fri, 05 Sep 2025S$32.6bS$4.2bS$1.3b25.9x24.8x7.8x
Sun, 03 Aug 2025S$31.6bS$4.2bS$1.4b24.1x23.1x7.5x
Tue, 01 Jul 2025S$31.3bS$4.2bS$1.3b24x23.4x7.5x
Thu, 29 May 2025S$29.2bS$4.2bS$1.3b22.2x21.9x7x
Sat, 26 Apr 2025S$30.1bS$4.1bS$1.1b22.9x26.3x7.3x
Mon, 24 Mar 2025S$31.6bS$4.1bS$1.2b23.6x25.6x7.6x
Wed, 19 Feb 2025S$30.2bS$4.1bS$1.2b22.6x24.2x7.3x
Fri, 17 Jan 2025S$31.5bS$4.1bS$689.5m23.4x45.6x7.6x
Sun, 15 Dec 2024S$31.1bS$4.1bS$689.5m22.9x45.2x7.5x
Tue, 12 Nov 2024S$32.2bS$4.1bS$689.5m25.7x46.7x7.8x
Thu, 10 Oct 2024S$35.0bS$4.1bS$446.2m24.8x78.5x8.5x
Sat, 07 Sep 2024S$35.2bS$4.1bS$446.2m24.8x78.8x8.5x
Mon, 05 Aug 2024S$33.2bS$4.1bS$446.8m23.8x74.2x8.1x
Wed, 03 Jul 2024S$31.2bS$4.1bS$464.0m22.8x67.3x7.7x
Fri, 31 May 2024S$32.3bS$4.1bS$494.6m22.3x65.3x7.9x
Sun, 28 Apr 2024S$32.4bS$4.1bS$907.8m18.5x35.7x8x
Tue, 26 Mar 2024S$33.8bS$4.1bS$918.0m18.4x36.8x8.3x
Thu, 22 Feb 2024S$34.6bS$4.1bS$908.4m18.5x38.1x8.5x
Sat, 20 Jan 2024S$36.3bS$4.1bS$1.6b14.7x22.2x8.9x
Mon, 18 Dec 2023S$37.4bS$4.1bS$1.6b15.2x22.8x9.2x
Wed, 15 Nov 2023S$33.7bS$4.1bS$1.6b13.9x20.6x8.3x
Fri, 13 Oct 2023S$34.6bS$4.1bS$2.3b11.4x14.8x8.5x
Sun, 10 Sep 2023S$36.0bS$4.1bS$2.3b11.6x15.4x8.8x
Tue, 08 Aug 2023S$35.7bS$4.1bS$2.3b15.1x15.6x8.8x
Thu, 06 Jul 2023S$35.7bS$4.0bS$2.1b12.8x16.7x9x
Sat, 03 Jun 2023S$35.5bS$4.0bS$2.1b12.3x16.6x8.9x
Mon, 01 May 2023S$36.7bS$4.0bS$2.5b12.3x14.7x9.2x
Wed, 29 Mar 2023S$35.7bS$4.0bS$2.7b11.7x13.4x8.9x
Fri, 24 Feb 2023S$35.1bS$3.9bS$2.5b11.7x14.1x8.9x
Sun, 22 Jan 2023S$35.2bS$3.8bS$2.7b11.9x13x9.2x
Price to Earnings Ratio

13x


Total Market Cap: S$35.2bTotal Earnings: S$2.7bTotal Revenue: S$3.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Industrial REITs Industry Price to Earnings3Y Average 32.9x202420252026
Current Industry PE
  • Investors are pessimistic on the Singaporean Industrial REITs industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 24.5x which is lower than its 3-year average PE of 32.8x.
  • The industry is trading close to its 3-year average PS ratio of 8.2x.
Past Earnings Growth
  • The earnings for companies in the Industrial REITs industry have declined 19% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.1% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

How does Singaporean Industrial REITs compare with similar industries?

SG Market1.61%
Real Estate3.43%
REITS0.72%
Industrial REITs1.43%
Office REITs1.60%
Retail REITs1.47%
Healthcare REITs1.19%
Hotel and Resort REITs1.19%
Diversified REITs0.72%
Residential REITs0%0
Specialized REITs0%0
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
M44U Mapletree Logistics TrustS$1.350.7%
+S$51.0m		6.3%PB1x
ME8U Mapletree Industrial TrustS$2.100.5%
+S$28.5m		-5.8%PB1.2x
9A4U ESR-REITS$2.790.7%
+S$16.1m		7.3%PB0.9x
O5RU AIMS APAC REITS$1.530.7%
+S$8.2m		20.5%PB0.9x
M1GU Alpha Integrated Real Estate Investment TrustS$0.481.0%
+S$5.6m		32.9%PB1x

Latest News

O5RU
S$1.53
AIMS APAC REIT
7D
0.7%
1Y
20.5%
ME8U
S$2.10
Mapletree Industrial Trust
7D
0.5%
1Y
-5.8%

ME8U: Stable Payout Structure Will Support Higher Future Earnings Multiples

Analysts have made a marginal adjustment to their price expectations for Mapletree Industrial Trust, reflecting slightly updated assumptions on the discount rate, revenue growth, profit margin and forward P/E, while keeping fair value unchanged at S$2.54. What's in the News Mapletree Industrial Trust announced a 2QFY25/26 distribution of 3.18 Singapore cents per unit for the period from 1 July 2025 to 30 September 2025, with payment expected by 10 December 2025 (company announcement).
M44U
S$1.35
Mapletree Logistics Trust
7D
0.7%
1Y
6.3%
A17U
S$2.84
CapitaLand Ascendas REIT
7D
-0.4%
1Y
9.2%

A17U: Portfolio Expansion And Stable Assumptions Will Support Future Upside

Analysts have reiterated their price target for CapitaLand Ascendas REIT at S$3.24, keeping fair value assumptions unchanged and making only marginal adjustments to inputs such as the discount rate, revenue growth, profit margin and future P/E. This reflects a steady view on the trust's valuation profile.
9A4U
S$2.79
ESR-REIT
7D
0.7%
1Y
7.3%
M1GU
S$0.48
Alpha Integrated Real Estate Investment Trust
7D
1.0%
1Y
32.9%
DHLU
S$0.56
Daiwa House Logistics Trust
7D
-0.9%
1Y
-4.3%