APAC REIT Daily: Argosy shares jump on FY20 earnings, as REITs deliver mixed results

By Benn Dorrington

Here’s how the real estate investment trust (REIT) markets performed across Asia Pacific on Wednesday, 20 May 2020.

In New Zealand, Argosy Property Ltd (ARG) shares soared 6.51% to NZ$1.145 after reporting net distributable income per share was up 3.7% in its 2020 full year results

The company also confirmed its fourth quarter dividend at NZ 1.5875 cents per share. 

Australia

APN Industria REIT (ADI) stocks jumped 5% to A$2.31 after announcing it would buyback as much as 5% of its shares. The company noted that it had collected about 95% of its rent billings in April, and expected a similar outcome in May. 

Scentre Group (SCG) shares closed 0.89% higher at A$2.26 after the retail group announced it had priced a US$1.5bn debt issue of senior guaranteed notes in the US. 

Shares in Aspen Group (APZ) rose 3.20% to A$1.13. The company said it had signed a contract to buy a co-living community in Newcastle, NSW under a liquidator’s sale for A$3.75m.

Unibail-Rodamco-Westfield (URW) stocks retreated 4.16% to A$3.92 following yesterday’s rally. 

The S&P/ASX 200 A-REIT Index was up 0.25% at 1,182.30, while the S&P/ASX 200 Index edged 0.24% higher to 5,573.00.

Japan

Daiwa Office Investment Corp. (8976) shares closed 0.65% higher at JPY 619,000 after the company said it planned to sell its Daiwa Jimbocho office asset, and buy the Nihonbashi Central Square property for JPY 3.52bn.

Mori Hills REIT Investment Corp. (3234) announced it had secured JPY 7.02bn in long-term loans, driving its stock price up 1.74% to JPY 140,500. 

Shares in Mori Trust Sogo REIT Inc. (8961) closed 0.24% lower at JPY 125,000 on the news that Japanese conglomerate Softbank would leave the trust’s Tokyo Shiodome Building next year. 

Mitsui Fudosan Logistics Park Inc. (3471) shares jumped the highest, up 4.79% to JPY 459,500, while Nomura Real Estate Master Fund Inc. (3462) led the losses, down 1.39% to JPY 120,200. 

The Tokyo Stock Exchange REIT Index rose 1.08% to 1,610.60, as the Nikkei 225 Index closed 0.79% higher at 20,595.15. 

Singapore

The FTSE ST Real Estate Investment Trusts Index traded sideways, up just 0.06% at 774.98, while the FTSE Straits Times Index was down 0.75% at 2,561.94.

Manulife US REIT (BTOU) announced it had secured a US$100m, five-year incremental green loan from OCBC Bank. The company’s share price closed 0.70% lower at S$0.71. 

The biggest share price moves for the day were CapitaLand Commercial Trust (C61U), which jumped 1.86% to S$1.64, while Frasers Centrepoint Trust (J69U) fell 2.27% to S$2.15. 

Hong Kong 

The Hang Seng Index finished trading 0.05% higher at 24,399.95, while the Hang Seng REIT Index dipped 0.24% to 5,904.48.

Spring REIT (1426) stocks were up 1.20% to HK$2.54 in what was the biggest rise, while Regal REIT (1881) declined 1.61% HK$1.22.

Malaysia 

Tower REIT (5111) shares jumped 7.75% to MYR 0.765 on no new announcements, followed by IGB REIT (5227), which rose 2.40% to MYR 1.71.

Axis REIT (5106) reported its Q1 2020 earnings, with profit growth of 10.1% to MYR 29.28m for the quarter, compared to the same period last year. However, its share price remained unchanged at MYR 1.95 at the end of trading.

Al-Aqar Healthcare REIT (5116) stocks dipped 1.43% to RM 1.38. The FTSE Bursa Malaysia KLCI Index increased 0.78% to 1,435.12.

Other markets 

The biggest swings recorded in Thailand were IMPACT Growth REIT (IMPACT) shares, which jumped 3.14% to THB 16.40, as Siri Prime Office Property Fund (SIRIP) dived 5.66% to THB 10.00.

In India, Embassy Office Parks REIT (EMBASSY) shares retreated 4.66% to INR 327. 

REITs in Taiwan and South Korea posted swings of less than 1%.

Learn more about Asia Pacific REITs:

REITS in AustraliaREITs in Thailand
REITs in JapanREITs in Taiwan
REITs in SingaporeREITs in Korea
REITs in Hong KongREITs in New Zealand
REITs in MalaysiaREITs in India
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