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The Top 5 Biggest REITs in Singapore

Singapore’s stock market is home to 32 real estate investment trusts (REITs) and six stapled trusts. A recent report from bourse operator Singapore Exchange showed which are the biggest REITs. Here are the five REITs with the largest market capitalisations (figures as of 6 March 2017 unless otherwise stated):

  1. Ascendas Real Estate Investment Trust  (SGX: A17U) emerged as the heavyweight champion in terms of size. The industrial REIT has a market cap that exceeds S$7.1 billion and sports a 6.2% distribution yield. Ascendas REIT is home to 130 properties in Singapore and Australia which are used for either commercial or industrial purposes, or both.
  2. The second place goes to the former market cap champion, CapitaLand Mall Trust (SGX: C38U). The REIT’s portfolio houses 16 shopping malls that collectively have around 3,100 tenants. The REIT’s market cap is S$6.90 billion and it offers a 6.0% distribution yield.
  3. CapitaLand Mall Trust’s cousin, CapitaLand Commercial Trust (SGX: C61U), lands in third place with a market cap of S$4.58 billion and a distribution yield of 6.1%. Unlike its retail-focused cousin, CapitaLand Commercial Trust has stakes in 10 different commercial properties in Singapore that are located in prime locations.
  4. Suntec Real Estate Investment Trust  (SGX: T82U) clinches the fourth spot with a market cap of S$4.45 billion. The REIT offers a distribution yield of 6.0%. Suntec City, which houses both commercial offices and a retail mall, is a core holding in the REIT. Suntec REIT also owns stakes in other commercial and retail properties.
  5. Mapletree Commercial Trust (SGX: N21U) rounds up the top five with a market cap of S$4.28 billion. The REIT owns the popular shopping mall Vivocity as a core property and has another four commercial properties under its umbrella. Mapletree Commercial Trust offers a 5.6% distribution yield.

The REITs above may be similar in that they have large market caps, but if we dig a little further, each REIT has a very different risk profile and also offers dissimilar potential growth opportunities. As investors, it is our duty to go beyond a REIT’s size and to dive deeper into their business for a better understanding.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The  Motley Fool Singapore has recommended shares of Singapore Exchange and CapitaLand Mall Trust. Motley Fool Singapore contributor Chin Hui Leong owns shares in CapitaLand Mall Trust and Suntec REIT.