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.

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