Here’s how listed real estate investment trusts (REITs) performed across Asia Pacific on Friday, 12 June 2020.
Singapore
The FTSE ST Real Estate Investment Trusts index declined 1.19% to 823.64, while the Straits Times index closed 0.72% lower at 2,684.63.
After the markets closed on Friday, Lendlease Global REIT (JYEU) announced it had won a tender to redevelop the 48,200 sq.ft. Grange Road car park site in Singapore into a new multi-functional event space.
The S$10m project will expand Lendlease’s 313@somerset complex, growing its net lettable area to approximately 330,000 sq.ft.
After the bell on Thursday, Starhill Global REIT (P40U) told shareholders in a statement that its upcoming distribution for the half-year period ending June would be below 90% of taxable income this year due to COVID-19. Starhill shares closed 1.83% lower at S$0.54 on Friday.
The biggest S-REIT movers on Friday were IREIT Global (UD1U) shares, which gained 2.10% to S$0.73, and BHG Retail REIT (BMGU) stocks, which fell 5.47% to S$0.61.
Australia
The S&P/ASX 200 A-REIT index dipped 1.80% to 1,252.70, in line with the S&P/ASX 200 index, which fell 1.89% to 5,847.80.
Centuria Industrial REIT (CIP) was included in the S&P/ASX 200 index, driving its share price up 1.00% to A$3.04.
The industrial REIT was among a handful of A-REIT stocks that finished trading higher, joined by Ingenia Communities Group (INA) and Waypoint REIT (WPR), which gained 1.67% and 0.75%, respectively.
Unibail-Rodamco-Westfield (URW) shares sank 8.82% to A$4.55, followed by Australian Unity Office Fund (AOF), which 6.09% to A$2.16.
Japan
The Tokyo Stock Exchange REIT index edged 0.47% higher to 1,716.68, while the Nikkei 225 index slipped 0.74% to 22,305.48.
Shares in Industrial & Infrastructure Fund Investment Corp. (3249) surged 3.60% to JPY 164,000 after announcing plans to acquire a 3% interest in IIF Shonan Health Innovation Park in Fujisawa-shi for JPY 1.16bn.
The asset is one of Takeda Pharmaceutical’s largest research and development facilities in Japan. The sale-leaseback deal with Takeda Pharmaceutical features a 6.5% NOI yield, or a 6.2% yield after additional capex, the company said.
Among the biggest swings of the day was Nippon Prologis REIT Inc. (3283), with shares up 3.75% to JPY 295,700, and Hulic REIT Inc. (3295), which sank 4.41% to JPY 140,900.
Hong Kong
The Hang Seng REIT index fell 0.64% to 5,688.73, and the Hang Seng index finished trading 0.73% lower at 24,301.38.
The biggest changes were Sunlight REIT (435) shares, which rose 2.88% to HK$3.93, and Yuexiu REIT (405) stocks, which closed 1.92% lower at HK$3.57.
Other markets
In New Zealand, most REITs closed lower, with Kiwi Property Group Ltd. (KPG) shares shedding 4.65% to NZ$1.03.
In Malaysia, YTL Hospitality REIT (5109) shares soared 6.48% to RM 1.15, while AmFIRST REIT (5120) stocks sank 2.27% to RM 0.43.
In South Korea, most listed REITs finished trading in the red, with Shinhan Alpha REIT Co. Ltd. (293940) shares closing 2.03% lower at KRW 6,750.