APAC REIT Daily: Ascott REIT to join global real estate index, as REIT shares gain

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Here’s how listed real estate investment trusts (REITs) performed across Asia Pacific on Monday, 8 June 2020. 

Singapore REIT market

The FTSE ST Real Estate Investment Trusts Index jumped 1.61% to 867.54, in line with the Straits Times Index, which gained 1.65% to 2,796.97.

Ascott REIT (HMN) shares soared 6.67% to S$1.12 after announcing its upcoming inclusion into the FTSE EPRA Nareit Global Real Estate Index Series (Global Developed Index) on June 22.

The move comes after Tokyo-listed Mitsubishi Estate Logistics REIT Investment Corp. (3481) announced on Friday that it would also be joining the FTSE EPRA/NAREIT Global Real Estate Index Series later this month. 

Investors favoured hospitality REITs today, with ARA US Hospitality Trust (XZL) shares rising 9.30% to S$0.47, and CDL Hospitality Trusts (J85) gaining 8.18% to S$1.19.

Mapletree Logistics Trust (M44U) was among a handful of S-REITs that finished lower, with its shares down 2.51% at $1.94.  

Hong Kong REIT market

Hong Kong stocks finished with minor gains, with the Hang Seng REIT Index up 0.47% to 5,752.30, and the Hang Seng Index finishing 0.03% higher at 24,776.77.

Moody’s Investors Service assigned a Baa1 rating to Champion REIT’s proposed USD senior unsecured notes due 2030, as part of its US$2bn medium-term note program, according to an announcement.

Champion REIT’s shares closed 2.31% higher at HK$3.98, the biggest gain of the day among Hong Kong REITs.

Prosperity REIT (808) stocks sank 1.70% to HK$2.31, while New Century REIT (1275) dipped 1% to HK$0.99. 

Japan REIT market

The Nikkei 225 Index jumped 1.37% to 23,178.10, and the Tokyo Stock Exchange REIT Index surged 1.97% to 1,753.41.

Japan Real Estate Investment Corp. (8952) announced new debt financing valued at JPY 11bn to refinance some long-term loans, according to an statement.

The company secured a JPY 7bn, five-year loan from Sumitomo Mitsui Trust Bank at a 0.2075% interest rate, as well as a JPY 4bn, 10-year loan from MUFG Bank at a 0.36125% interest rate. The company’s shares closed 2.95% higher at JPY 594,000.

Japan Retail Fund Investment Corp. (8953) stocks were among the biggest movers, up 7.50% to JPY 163,300, while SOSiLA Logistics REIT Inc. (2979) closed 2.88% lower at JPY 128,100.

Australia REIT market

The Australian stock market was closed for a public holiday.

Other APAC REIT markets 

In Malaysia, AmanahRaya REIT (5127) shares dived 3.57% to RM 0.68, while CapitaLand Malaysia Mall Trust (5180) stocks increased 2.44% to RM 0.84.

In New Zealand, Investore Property Ltd (IPL) stocks surged 5.11% to NZ$1.85, as Precinct Properties New Zealand Ltd. (PCT) shares finished trading 3.86% higher at NZ$1.75.