APAC REIT Daily: Invincible shares plummet after J-REIT cuts dividends

By Benn Dorrington

Here’s how the REIT markets performed across Asia Pacific on Tuesday, 12 May 2020.


Invincible Investment Corp. (8963) shares plummeted 22.66% to ¥23,900 after the hotel REIT cut its dividend by 98%.

Investors sold down other hotel trusts as well, with Ichigo Hotel REIT Investment Corp. (3463) and Mori Trust Hotel REIT Inc. (3478) stocks down 8.84% and 6.93% respectively.

Logistics REITs led the gains, with Nippon Prologis REIT Inc. (3283) stocks up 1.65% to ¥295,500, and GLP J-REIT (3281) closing 1.40% higher.

The TSE REIT index slid 2.18%, and the Nikkei 225 dipped 0.12% to 20,366.48.

Want to learn more about J-REITs? Check out our APAC REIT directory.


Shares in pub REIT ALE Property Group (LEP) jumped 4.60% to $4.32 on the back of further easing of COVID-19 restrictions across the country.

Retail trusts APN Convenience Retail REIT (AQR) and Carindale Property Trust (CDP) rose 2.10% and 1.85% as well.

Mirvac Group (MGR) stocks fell 4.92% to $2.13, wiping out most of last week’s gains. Scentre Group (SCG) shares dropped 3.51%, and Hotel Property Investments (HPI) also declined 3.43%.

The S&P/ASX 200 A-REIT Index (XPJ) fell 1.90%, while the S&P/ASX 200 down 1.07% to 5,403.00.

Hong Kong

In Hong Kong, New Century REIT (1275) shares dropped 8.34% to HK$0.99, cancelling out its gains from last week.

Link REIT (823), Sunlight REIT (435) and Prosperity REIT (808) stocks were all down by about 2%, as the Hang Seng dipped 1.45% to 24,245.68.

The Hang Seng REIT Index finished trading 0.66% lower.


S-REITs trended downwards, with the FTSE ST Real Estate Investment Trusts Index down 1.32% and the FTSE Straits Times Index closing 0.90% lower at 2,587.81.

CDL Hospitality Trusts (J85) stocks dropped 3.20% to $0.91, while Suntec REIT (T82U) and EC World REIT (BWCU) were both down 2.88%.

Logistics trusts finished higher, with Frasers Logistics & Commercial Trust (BUOU) and AIMS APAC REIT (O5RU) up 1.85% and 1.70%, respectively.


Amanah Harta Tanah PNB (4952) stocks gained 2.77% to RM0.74, followed by AmFIRST REIT (5120), which rose 1.12%.

Tower REIT (5111) shares fell 1.37% to , while Sunway REIT (5176) declined 1.23% to RM1.61.

The FTSE Bursa Malaysia KLCI Index traded sideways, edging 0.17% lower to 1,379.93.

Other markets

In New Zealand, Precinct Properties New Zealand Ltd. (PCT) shares rose 3.61% to NZ$1.58, as the S&P/NZX 50 Gross Index rose 0.54%.

In South Korea, Lotte REIT Co. Ltd. (330590) shares declined 1.34% to ₩5,180, while Shinhan Alpha REIT Co. Ltd. (293940) declined 1.11%

Taiwan REIT stocks traded sideways, with changes lower 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
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.