Cromwell EREIT is top outperformer amongst S-REITs
It gained 6% steady financial performance.
In the first two weeks in August, Cromwell EREIT was declared as top outperformer, with a steady financial performance, UOB Kay Hian, revealed.
The REIT’s distribution per unit went up 2.3% year-on-year in the first half of 2022.
Mapletree Pan Asia Commercial Trust, the recent merger of MCT and MNACT, gained 2.1% because of festival walk in Hong Kong, which benefits from the eased quarantine period for travellers.
Logistics REITs MLT and EREIT gained 2.3% and 1.2%, respectively whilst DCREIT increased 1.7% as it expects an impending acquisition of data centres.
UOB Kay Hian said the S-REITs suffered a slight decline at the Straits Times Index, edging down 1.8% in the first two weeks of August.
Despite the geopolitical tensions, the REITs remained resilient because of their “defensive characteristics and stable cash flows.