APAC REIT Daily: Mitsubishi Estate Logistics REIT to join global index, as APAC REITs finish higher

By Benn Dorrington

Here’s how listed real estate investment trusts (REITs) performed across Asia Pacific on Friday, 5 June 2020.

REITs in Japan

Shares in Mitsubishi Estate Logistics REIT Investment Corp. (3481) rose 1.06% to JPY 383,000 after announcing that it would join the FTSE EPRA/NAREIT Global Real Estate Index Series from June 19.

The REIT said the index was widely adopted by institutional investors as a benchmark for international real estate investments, and expects the move will further broaden its investor base and increase liquidity. 

Orix JREIT Inc. (8954) secured JPY 3bn in new debt financing to repay a long-term loan due this month, the company announced. 

The new financing comprises a 10-year JPY 1bn loan with a 0.45% fixed rate from the Bank of Fukuoka, and a two-year JPY 2bn loan (base rate based on JBA 1-month JPY TIBOR + 0.165%) from Mizuho Bank. Orix shares rose 1.06% to JPY 162,600.

Japan Retail Fund Investment Corp. (8953) closed 1.27% higher to JPY 151,900 after completing its share buyback program, repurchasing more than 15,000 stocks for almost JPY 2m in total between April and June, according to a filing. The REIT’s share price climbed 1.06% to JPY 383,000.

Among the biggest movers were Mori Trust Hotel REIT Inc. (3478) shares, which surged 5.80% to JPY 107,700, while Japan Logistics Fund Inc. (8967) closed 3.00% lower at JPY 271,900. 

In Tokyo, the TSE REIT Index was up 0.97% to 1,719.57, while the Nikkei 225 Index gained 0.74%, or 167.99 points, to 22,863.73.

REITs in Singapore

The FTSE ST Real Estate Investment Trusts Index jumped 1.53% to 853.76, in line with the Straits Times Index, which moved 1.64% higher to 2,751.50. 

The manager of Sasseur REIT (CRPU) told the market in a statement that it had collected its base fees for the first quarter in shares rather than cash, receiving 2,698,964 units at S$0.5926 per stock. Sasseur shares rose 1.92% to S$0.80. 

The manager of Lendlease Global REIT (JYEU) also announced that it would take shares instead of cash for its first quarter REIT management and property management fees. The REIT’s shares were flat at the end of trading. 

Mapletree Industrial Trust (ME8U) shares jumped 3.77% to S$2.75 in one of the biggest gains of the day, while Sabana Shariah Compliant Industrial REIT (M1GU) stocks tumbled 2.67% to S$0.37.

REITs in Hong Kong 

The Hang Seng REIT Index surged 2.14% higher to 5,725.27, as the Hang Seng Index extended its gains a further 1.66% to 24,770.41.  

Shares in hotel owner Regal REIT (1881) notched up the strongest results, soaring 10.34% to HK$1.28, while Spring REIT (1426) closed 0.40% lower at HK$2.51.

REITs in Australia

The S&P/ASX 200 A-REIT Index rose 0.52% to 1,301.30, while the S&P/ASX 200 Index climbed 0.12% 5,998.70, just falling short of the 6,000 mark. 

Shares in Investec Australia Property Fund (IAP) jumped 4.17% to A$1.25, followed by Vicinity Centres (VCX), which gained 3.88% to A$1.74. 

Ingenia Communities Group (INA) stocks retreated 3.81% to A$4.29, while Unibail-Rodamco-Westfield (URW) closed 3.46% lower at A$5.30.

Other REIT markets

In New Zealand, Argosy Property Ltd (ARG) shares sank 3.63% to NZ$1.20, while Kiwi Property Group Ltd. (KPG) stocks led the gains, rising 1.80% to NZ$1.13.

In Malaysia, CapitaLand Malaysia Mall Trust (5180) stocks climbed 2.44% to RM 0.84, and KLCC Property Holdings Bhd (5235SS) edged 0.12% higher to RM 8.19.

In India, Embassy Office Parks REIT (EMBASSY) shares closed 2.36% lower at ₹360.58. 

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.