SREITs are typically used for dividend generation and any capital gain is seen as a bonus. So, for me, I choose my reit based on dividend and whether the DPU can at least be sustained. The DPU needs to at least be the same over the years and ideally even increase over the years. Of course, the last 4 years have been brutal for SREITs due to the rate hikes. However, this is usual temporal and affects across sectors.


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.