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Singaporean (SGX) Industrial REITs Industry Analysis

UpdatedMay 04, 2026
DataAggregated Company Financials
Companies9
  • 7D-2.5%
  • 3M-8.9%
  • 1Y0.7%
  • YTDn/a

Over the last 7 days, the Industrial REITs industry has dropped 2.5%, driven by a pullback from CapitaLand Ascendas REIT of 2.4%. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 9.8% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 05 May 2026S$33.2bS$4.3bS$1.6b17.8x21.3x7.6x
Thu, 02 Apr 2026S$32.5bS$4.3bS$1.7b16.8x19.5x7.5x
Sat, 28 Feb 2026S$32.8bS$4.2bS$1.6b18x20.5x7.7x
Mon, 26 Jan 2026S$34.6bS$4.2bS$1.4b19.1x24.5x8.3x
Wed, 24 Dec 2025S$33.3bS$4.2bS$1.4b18.5x23.6x8x
Fri, 21 Nov 2025S$33.2bS$4.2bS$1.4b18.6x23.5x8x
Sun, 19 Oct 2025S$33.6bS$4.2bS$1.3b27.2x25.5x8x
Tue, 16 Sep 2025S$33.7bS$4.2bS$1.3b26.7x25.6x8x
Thu, 14 Aug 2025S$31.6bS$4.2bS$1.3b24.7x24.1x7.6x
Sat, 12 Jul 2025S$31.2bS$4.2bS$1.3b23.6x23.4x7.5x
Mon, 09 Jun 2025S$29.8bS$4.2bS$1.3b22.7x22.3x7.1x
Wed, 07 May 2025S$30.3bS$4.1bS$1.4b23.1x22.3x7.3x
Fri, 04 Apr 2025S$32.2bS$4.1bS$1.2b23.6x26x7.8x
Sun, 02 Mar 2025S$30.1bS$4.1bS$1.2b22.7x24.2x7.3x
Tue, 28 Jan 2025S$30.9bS$4.1bS$629.5m23.4x49.2x7.5x
Thu, 26 Dec 2024S$31.1bS$4.1bS$689.5m23.2x45.2x7.5x
Sat, 23 Nov 2024S$31.3bS$4.1bS$689.5m23.2x45.5x7.6x
Mon, 21 Oct 2024S$34.9bS$4.1bS$446.2m24.6x78.3x8.5x
Wed, 18 Sep 2024S$36.3bS$4.1bS$446.2m25.3x81.3x8.8x
Fri, 16 Aug 2024S$32.4bS$4.1bS$445.0m23.2x72.7x7.9x
Sun, 14 Jul 2024S$33.0bS$4.1bS$464.0m23.8x71.1x8.1x
Tue, 11 Jun 2024S$32.3bS$4.1bS$464.1m23.1x69.5x7.9x
Thu, 09 May 2024S$32.2bS$4.1bS$484.7m22.6x66.5x7.9x
Sat, 06 Apr 2024S$34.3bS$4.1bS$907.8m18.5x37.8x8.5x
Mon, 04 Mar 2024S$33.7bS$4.1bS$918.0m18.2x36.7x8.3x
Wed, 31 Jan 2024S$35.8bS$4.1bS$1.6b16.1x22.2x8.7x
Fri, 29 Dec 2023S$37.8bS$4.1bS$1.6b15.1x23x9.3x
Sun, 26 Nov 2023S$35.5bS$4.1bS$1.6b14.5x21.7x8.7x
Tue, 24 Oct 2023S$32.0bS$4.1bS$2.3b11.3x13.7x7.9x
Thu, 21 Sep 2023S$36.0bS$4.1bS$2.3b11.4x15.5x8.8x
Sat, 19 Aug 2023S$35.2bS$4.1bS$2.3b11.9x15.1x8.6x
Mon, 17 Jul 2023S$36.8bS$4.0bS$2.1b13.1x17.2x9.2x
Wed, 14 Jun 2023S$34.8bS$4.0bS$2.1b12.3x16.3x8.7x
Fri, 12 May 2023S$36.5bS$4.0bS$2.2b12.4x16.9x9.2x
Price to Earnings Ratio

16.9x


Total Market Cap: S$36.5bTotal Earnings: S$2.2bTotal Revenue: S$4.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Industrial REITs Industry Price to Earnings3Y Average 33.6x202420252026
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 21.3x which is lower than its 3-year average PE of 33.6x.
  • The industry is trading close to its 3-year average PS ratio of 8.1x.
Past Earnings Growth
  • The earnings for companies in the Industrial REITs industry have declined 10% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.8% 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 Market-0.37%
Real Estate-1.60%
REITS-4.47%
Industrial REITs-2.53%
Retail REITs0.41%
Office REITs0.21%
Residential REITs0%0
Specialized REITs0%0
Healthcare REITs-0.75%
Hotel and Resort REITs-0.98%
Diversified REITs-4.47%
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
O5RU AIMS APAC REITS$1.531.3%
+S$16.4m		21.4%PB0.9x
UIBU UI Boustead Real Estate Investment TrustS$0.840.6%
+S$6.8m		n/aPB1x

Latest News

M44U
S$1.23
Mapletree Logistics Trust
7D
-1.6%
1Y
8.8%
ME8U
S$1.96
Mapletree Industrial Trust
7D
-4.4%
1Y
-3.4%
A17U
S$2.51
CapitaLand Ascendas REIT
7D
-1.2%
1Y
-6.0%

A17U: Recent Equity Offerings And Distribution Outlook Will Support Future Upside Potential

Analysts now set a revised price target for CapitaLand Ascendas REIT at about SGD3.15, compared with the prior SGD3.24, reflecting updated views on its discount rate, revenue growth, profit margin and forward P/E assumptions. What's in the News Completed a follow on equity offering of about SGD303.47m, issuing 129,134,664 new units at SGD2.35 per unit under a rights offering structure (Key Developments).
O5RU
S$1.53
AIMS APAC REIT
7D
1.3%
1Y
21.4%
M1GU
S$0.48
Alpha Integrated Real Estate Investment Trust
7D
-1.0%
1Y
31.5%
BUOU
S$0.97
Frasers Logistics & Commercial Trust
7D
-1.5%
1Y
7.8%
9A4U
S$2.47
ESR-REIT
7D
-1.6%
1Y
8.3%
UIBU
S$0.84
UI Boustead Real Estate Investment Trust
7D
0.6%
1Y
n/a