APAC REIT Daily: GPT reveals 8.8% retail revaluation, as A-REIT shares surge

By Benn Dorrington

Here’s how listed real estate investment trusts (REITs) performed across Asia Pacific on Tuesday, 9 June 2020. 


A-REIT shares posted strong gains, with the S&P/ASX 200 A-REIT Index up 3.87% to 1,351.60, and the S&P/ASX 200 Index gaining 2.44% to 6,144.90.

Shares in GPT Group (GPT) soared 7.53% to A$4.57 despite announcing that its retail portfolio valuation fell 8.8%, or A$476.7m, to A$4,297.8m in May compared to December 2019.

GPT CEO Bob Johnston said there had been a significant increase in activity at their retail assets in recent weeks, with foot traffic at their regional malls back at 85% of where they were at the same time last year.

Unibail-Rodamco-Westfield (URW) shares jumped 8.87% to A$5.77. The retail REIT told the market that it had received a high score in ESG practices from ISS (Institutional Shareholder Services group of companies).

Scentre Group (SCG) stocks also surged, rising 8.76% to A$2.73, while Arena REIT (ARF) was among the several A-REITs to close lower, down 1.23% at A$2.41. 


The Tokyo Stock Exchange REIT Index gained 0.30% to 1,758.66, while the Nikkei 225 Index finished 0.38% lower at 23,091.03. 

Premier Investment Corp. (8956) secured two loans totalling JPY 3.2bn to partially fund its Otemachi Financial City Grand Cube acquisition, according to a company statement. 

The financing is comprised of a one-year JPY 2.2bn loan from Sumitomo Mitsui Trust Bank on a floating rate of 1-month TIBOR + 0.14000%, and a one-year JPY 1bn loan from Mizuho Bank and Sumitomo Mitsui Banking Corporation on a floating rate of 1-month TIBOR + 0.18000%. Premier shares closed 1.38% higher at JPY 125,100. 

Frontier Real Estate Investment Corp. (8964) shares grew 4.47% to JPY 385,500 in one of the biggest gains of the day, while Orix JREIT Inc. (8954) sank 3.41% to JPY 164,500. 


The FTSE ST Real Estate Investment Trusts Index edged 0.30% lower to 864.91, in line with the Straits Times Index, which was down 0.10% at 2,794.17.

Shares in CapitaLand Mall Trust (C38U) rose 2.29% to S$2.23 after its parent company, CapitaLand, announced yesterday that it would waive and potentially defer rent for eligible tenants, in line with the COVID-19 (Temporary Measures) Bill in Singapore. 

Prime US REIT (OXMU) stocks grew 3.11% to S$0.83 in one of the biggest moves of the day, while Keppel Pacific Oak US REIT (CMOU) declined 2.74% to S$0.71.

Hong Kong

Link REIT (823) shares jumped 3.63% to HK$68.55, as the Hang Seng REIT Index rose 2.34% to 5,886.91.

Champion REIT (2778) posted the strongest gains, up 4.27% to HK$4.15, as the rest of the Hong Kong REITs closed higher or flat. The Hang Seng Index gained 1.13% to finish at 25,057.22.

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
Disclaimer: APAC Real Estate accepts no responsibility for any claim, loss or damage as a result of information provided or its accuracy. Your personal objectives, financial situation or needs have not been taken into consideration. The information provided on this site is general in nature, not financial product advice, so you should see a financial expert before making any investment decision. Conflicts of interest may be present within commercial arrangements with companies and/or stock held.
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.