Top 10 Dividend King! Who's the Real Cash Cow?
Since last week, we’ve entered the intensive S-REITs earnings season. With so many REITs listed on SGX, it’s dizzying — how do you pick your REIT?
By dividend yield ranking?
$Asian Pay Tv Tr(S7OU.SI)$ $Sasseur Reit(CRPU.SI)$ $IREIT Global SGD(UD1U.SI)$ $EliteUKREIT GBP(MXNU.SI)$ $First Reit(AW9U.SI)$
By sector?
Across SGX’s 41 REITs, the average dividend yield stands at 6.9%.
Yield 6%–7%: Hospitality ＞ Diversified ＞ Industrial ＞ Retail; Yield 4.9%–6%: Office ＞ Healthcare; Specialized REITs (2 data center REITs) are the lowest, at only 4.3%.
Today, $CapLand Ascott T(HMN.SI)$ released its earnings: YTD +18.08%
Gross Profit: +1% y-o-y ｜ Same-store: -2% ｜ Gearing: 39.3%
NAV/unit: S$1.13 ↑ (from S$1.11)
RevPAU: +3% y-o-y ｜ Occupancy: 83% (↑ from 79%)
CLAS delivered a steady Q3 performance. Revenue growth was mainly supported by stronger operations, asset enhancement, and portfolio reconstitution — offsetting currency depreciation. Excluding acquisitions and disposals, gross profit fell slightly by 2%, due mainly to a one-off land tax adjustment at its Australian properties.
So, who do you think is the true cash cow dividend king?
How do you pick your REITs — and what factors matter most to you?
REWARDS
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Sector exposure is key too. I currently favor hospitality and industrial REITs — hospitality benefits from travel recovery, while industrial assets see steady demand from logistics and data centers. I’m more cautious on office REITs due to hybrid work trends. CapLand Ascott Trust (CLAS) stands out for its flexible, asset-light strategy that helps cushion currency or tax impacts.
Lastly, I check valuation and balance sheet strength. REITs trading near NAV with solid interest coverage and positive rental reversions give me confidence. To me, the real “dividend king” is one that combines yield, stability, and growth potential — not just the highest payout.
@Tiger_SG @Tiger_comments @TigerStars
Other than DPU, I look at gearing ratio and occupancy rates and lease durations as well as the breakdown of the tenants. These will give me an idea of how healthy the balance sheets are and will remain so, and not being vulnerable to a single major tenant.
Geographical location of the properties also give an idea of potential geopolitical risks.
I think the real cash cows are cict and Keppel dc. Mapletree used to be decent till the geopolitical risks, rising competition and how mapletree commercial was restructured. Hot themes like AI can be beneficial too.
Check them in the history - “community distribution“
When selecting REITs, focus on dividend yield, asset diversification, property location, tenant quality, and debt levels; balancing stable dividends with long-term growth potential is key, and for growth, prioritize REITs with expansion potential and high-quality in prime markets。。。
Ultimately, the best REITs offer a strong stable income and future growth opportunities, aligning with personal preferences for stability, diversification, and capital appreciation
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@Huat99
@Snowwhite
毛利：+1%同比|同店：-2%|傳動裝置：39.3%
導航/單位：1.13新加坡元↑（1.11新元起）
RevPAU：同比+3%|入住率：83%（↑自79%）
CLAS第三季度表現穩定。收入增長主要受到更強勁的運營、資產增值和投資組合重組的支持——抵消了貨幣貶值。撇除收購及出售，毛利微跌2%，主要由於其澳洲物業的一次性土地稅調整。
收率6%-7%：酒店>多元化>工業>零售；產率4.9%-6%：辦公>醫療保健；專業化REITs（2個數據中心REITs）最低，僅爲4.3%.
I rather go for solid dividend stocks like SG banks to get both - reasonable 5% yield and capital appreciation
When picking S-REITs, focus on:
1️⃣ DPU stability – consistent or growing payouts.
2️⃣ Gearing < 40% and strong interest-coverage.
3️⃣ Occupancy > 95% and long WALE.
4️⃣ Prime assets with accretive AEIs.
5️⃣ Price-to-NAV < 1× and credible sponsors.
CICT suits conservative income seekers; MLT, KIT, and Ascendas REIT suit moderate-risk investors seeking 5–7 % yields. The best S-REITs balance steady DPUs, low leverage, and quality assets — true cash cows through cycles.
The yield look high but the capital you invested is reducing over the years.
I will prefer other REITs eq Keppel REIT capital Ascott, keppel DC and Suntec . Slow but steady on both capital gain and yields
Capitaland makes sense too with so many mall around the island.
Please be careful with the Business Trust, that product designed with limited life time, maybe 30 years. For example, the cable TV net asset value continues going down. And business trust was allowed to pay dividends by borrowing money.