SREITs Earnings Week: OUE REIT Jumps! Who Is Powering Your Portfolio?
This week’s SGX earnings season is incredibly busy, featuring: $Mapletree Log Tr(M44U.SI)$ , $OUEREIT(TS0U.SI)$ , $Mapletree Ind Tr(ME8U.SI)$ , $CapLand Ascott T(HMN.SI)$ , $Micro-Mechanics(5DD.SI)$ , $NetLink NBN Tr(CJLU.SI)$ , $StarhillGbl Reit(P40U.SI)$ , $CDL HTrust(J85.SI)$ , $Keppel DC Reit(AJBU.SI)$ , and $Mapletree PanAsia Com Tr(N2IU.SI)$.
While the data shows a mix of red and green, the most "real" metric is the profit and loss in your own account.
Mid-Week Recap of S-REITs
The Dark Horse: OUE REIT (TS0U) rises 2.7% this week
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Full-year DPU +8.3%, with a massive 10.6% jump in the second half (2H)
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A sharp 18% drop in interest expenses and the divestment of underperforming assets. This "deleveraging" play was a masterclass in financial management.
⚖️ Under Pressure: The Mapletree Duo ( $Mapletree Log Tr(M44U.SI)$ & $Mapletree Ind Tr(ME8U.SI)$)
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3Q DPU declined by 9.3% and 7.0% respectively.
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While operational occupancy remains rock-solid, they were hit hard by "forex assassins" (weakening currencies) and a sustained high-interest-rate environment.
The numbers are out, and it’s time to see how the market is really feeling. We’re inviting you to join the conversation!
How to participate
1️⃣ One-Sentence Review: Sum up your thoughts on any SGX earnings report released this week in just one sentence.
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Example: “OUE’s turnaround just saved my dividend yield for the year!”
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Example: “Mapletree Logistics is still fundamentally strong; I’m just waiting for the forex tide to turn.”
2️⃣ Show Your P/L (The Screenshot Challenge): Data is great, but results are better.
Share a screenshot of your profits or your updated holdings. Whether it’s the joy of dividends hitting your account or your strategy for holding through the volatility—let’s see your real-world performance!
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@Tiger_SG @TigerStars @Tiger_comments @TigerClub @老虎船长
另一方面，丰树双雄 $丰树工业信托(ME8U.SI)$ $丰树物流信托(M44U.SI)$ 考验了我的耐心。MLT和麻省理工学院的DPU下降并未投入运营——入住率仍然稳定——但受到外汇压力和高利率的推动。我没有动摇基本面；这看起来更像是宏观逆风，而不是一个破碎的故事。
最终，唯一重要的指标是我自己的损益。盈利头条新闻来来去去，但真正重要的是股息达到账户和长期投资组合弹性。很想知道本季度哪些S-REITs承载着其他人的投资组合。
@Tiger_SG @TigerStars @Tiger_comments @TigerClub
Keppel DC REIT: a 9.8% increase in FY2025 DPU to 10.381 cents, driven by strong contributions from newly acquired data centres in Singapore and Tokyo.
please go higher, make lots and lots of [USD] [USD] [USD] [Grin] [Grin] [Grin]
一句话总结本周：市场不再奖励宏大叙事，只奖励真实、能落袋的现金流改善。选 S-REITs，与其盯红绿，不如问一句——这份分派，明年还能不能稳住。
There is still time to adjust to the lower interest rates, so that would be the easy lever to pull. It would also be wise to look to get ahead of their remaining tenancies and lock up the leases to calm the nerves of investors (I recall that one of the two had an average of less than 3 years which sounds shaky).
It is also worrying that their DPUs are dropping, while in contrast OUE is going up.
Undoubtedly, OUE emerged as the dark horse, +8.3% is impressive, totally unexpected.
第三季度DPU下降9.3%和7.0%分別地。
雖然運營入住率仍然堅如磐石，但他們受到了“外匯刺客”（貨幣疲軟）和持續高利率環境的沉重打擊。
房地产板块收入下降约 9.7%，主要因为部分资产表现不及去年。
投资物业上海力宝广场（Lippo Plaza Shanghai）于 2024 年底脱售，投资物业及基金管理收入减少。未来不看好。