APAC REIT Daily: Goodman Property Trust shares fall, as REITs slip across the region

By Benn Dorrington

Here’s how the real estate investment trust (REIT) markets performed across Asia Pacific on Thursday, 28 May 2020.

In New Zealand, Goodman Property Trust (GMT) shares dived 4.35% to NZ$2.20 after announcing net profit was down 18% YOY to NZ$261.9m in its 2020 annual results.

Australia

The S&P/ASX 200 A-REIT Index slipped 0.90% to 1,264.70, while the S&P/ASX 200 Index jumped 1.32% to 5,851.10.

Shares in Garda Property Group (GDF) jumped 6.52% to A$0.98 after the company announced a distribution of 1.8 cents per security for the June 2020 quarter.

Aspen Group (APZ) announced plans to raise A$20m through an institutional placement and security purchase plan to pay for two recent acquisitions in Queensland and NSW, the company said in a statement. Aspen shares increased 0.42% higher to A$1.20.

Carindale Property Trust (CDP) stocks soared 8.11% to A$3.60, while Vicinity Centres (VCX) fell 4.39% to A$1.64.

Japan

J-REITs moved against the market, with the Tokyo Stock Exchange REIT Index dipping 0.33% to 1,671.67, while the Nikkei 225 Index jumped 2.32% to 21,916.31.

Shares in Mitsui Fudosan Logistics Park Inc. (3471) closed 0.74% lower at JPY 468,500 after securing an unsecured, JPY 2bn loan from Sumitomo Mitsui Trust Bank, according to a statement.

In the biggest moves of the day, Ichigo Hotel REIT Investment Corp. (3463) shares jumped 4.41% to JPY 68,600 and SOSiLA Logistics REIT Inc. (2979) stocks dived 4.48% to JPY 123,600. 

Malaysia 

Shares in Hektar REIT (5121) declined 1.45% to RM 0.68 after proposing a private placement of more than 23 million new shares, representing up to 5% of total shares. The equity raising is expected to raise about RM 14.2m to boost cash flow amid COVID-19, according to an announcement. 

Atrium REIT (5130) stocks fell 0.98% to RM 1.01 despite more than doubling its profit to RM 5.2m in the first quarter, according to its latest earnings. The company also increased its income distribution to 2.00 sen per unit for the March 2020 quarter, up from 1.4 sen a year ago. 

Pavilion REIT (5212) shares rose 1.75% to RM 1.74, marking the biggest gain for the day. The FTSE Bursa Malaysia KLCI Index finished trading up 0.40% at 1,457.50.

Singapore

In Singapore, the FTSE ST Real Estate Investment Trusts Index rose 0.82% to 788.83, while the FTSE Straits Times Index closed 0.17% lower at 2,515.24. 

Cromwell European REIT (CNNU) shares surged 6.33% to S$0.42, followed by a 3.55% jump in Suntec REIT (T82U) stocks to S$1.46.

BHG Retail REIT (BMGU) stocks finished trading down 4.07% at S$0.59, as CapitaLand Retail China Trust (AU8U) sank 1.55% to S$1.27.

Hong Kong 

Hong Kong REITs extended their losses, with the Hang Seng REIT Index diving 2.05% to 5,132.87.

New Century REIT (1275) declined 5.00% to HK$0.95, trailed by Fortune REIT (778) stocks, which dipped 2.42% to HK$6.44. Spring REIT (1426) shares jumped 3.81% to HK$2.45. 

The Hang Seng Index slipped 0.72% to 23,132.76.

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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Benn is a freelance journalist and the publisher of APAC Real Estate. He has reported for the Herald Sun, REFI Europe, S&P Global Market Intelligence, Leader Newspapers, and more.