APAC REIT Daily: SHREIT shares soar on takeover offer, while APAC REITs finish week lower

By Benn Dorrington

Here’s how the REIT markets performed across Asia Pacific on Friday, 15 May 2020.

Thailand

Strategic Hospitality Extendable Freehold & Leasehold REIT (SHREIT) shares skyrocketed 14.76% to ฿4.82 on Friday after the board approved a US$118m takeover offer from LT Rubicon Ltd.

The offer was announced in April, and will include the trust’s three hotels located in Jakarta and Ho Chi Minh City.

AIM Commercial Growth Freehold and Leasehold REIT (AIMCG) stocks rose 9.62% to ฿7.40, while MFC Industrial REIT (MIT) stocks jumped 7.50%.

Talaad Thai Leasehold Property Fund (TTLPF) stocks fell 3.94% to ฿22.00.

Thai stocks finished the week roughly where they started, with the SET 50 Index closing 0.29% lower compared to Monday.

Japan

Shares in J-REITs sunk even further, with the Tokyo Stock Exchange REIT Index finishing the week 7.69% lower at 1,553.23, compared to Monday’s open.

On Friday, United Urban Investment Corp. (8960) shares fell 5.10% to ¥109,900, while XYMAX REIT Investment Corp. (3488) slid 5.00%.

Most J-REITs ended the day in the red, with Invesco Office J-REIT Inc. (3298) stocks among the few to close higher, up 0.35% to ¥14,210.

The Nikkei 225 Index finished the day slightly higher at 20,037.47 but ended the week 1.45% lower compared to Monday.

Australia

A-REITs finished the week lower, with the S&P/ASX 200 A-REIT Index (XPJ) down 1.98% to 1,125.20 compared to Monday’s open.

A-REITs moved against the wider market, as the S&P/ASX 200 Index closed out the week almost where it started, up 0.25% to 5,404.80.

Garda Diversified Property Fund (GDF) shares jumped 4.44% to A$0.94, while Unibail-Rodamco-Westfield (URW) recovered ground, with its shares up 3.83% to $3.79. Charter Hall Group (CHC) stocks also rose 3.81% to $7.90.

Blackwall Property Trust (BWR) shares fell 4.59% to $1.25, and Dexus (DXS) closed 2.24% lower on Friday.

Singapore

The iEdge S-REIT Index finished the week at 1,194.55, down 2.43% compared to last Friday’s close.

Frasers Hospitality Trust (ACV) shares declined 3.75% to $0.43, while Ascendas India Trust (CY6U) edged 0.77% lower.

Keppel DC REIT (AJBU) stocks jumped 3.98% to $2.35 after the trust announced on Thursday that it had received a €70m loan.

The wider market also finished the week lower, with the FTSE Straits Times Index closing at 2,523.55, 2.86% lower on Monday.

Hong Kong

The Hang Seng REIT Index closed at 5,843.77 on Friday, posting a weekly loss of 2.23% on last Friday’s close.

Hong Kong REIT share performance was roughly in line with the wider market, with the Hang Seng finishing at 23,797.47, down 2.75% on Monday.

New Century REIT (1275) shares were down 1.99% to HK$0.99 on Friday, followed by Regal REIT (1881), which dipped 1.56%.

Fortune REIT (778) shares led the gains on Friday, up 0.95% to HK$7.39.

Malaysia

AmanahRaya REIT (5127) shares rose 1.49% to RM0.68, while Atrium REIT (5130) increased 1.00% to RM1.01.

Tower REIT (5111) stocks dived 4.03% to RM0.715, while Amanah Harta Tanah PNB (4952) closed 2.07% lower.

Malaysian stocks finished the week higher, with the FTSE Bursa Malaysia KLCI Index 1.74% higher at 1,403.44 compared to Tuesday’s open. Monday was a public holiday in Malaysia.

Other markets

In New Zealand, Augusta Capital (AUG) shares fell 2.24% to NZ$0.65, and Goodman Property Trust (GMT) declined 2.02% to NZ$2.18. Kiwi Property Group Ltd. (KPG) stocks rose 2.84% to NZ$0.90.

In South Korea, Shinhan Alpha REIT Co. Ltd. (293940) and Lotte REIT Co. Ltd. (330590) shares rose 1.47% and 1.16% respectively, while E KOCREF CR REIT (088260) stocks slipped 1.32%.

In Taiwan and India, REIT stocks traded sideways, with swings of less 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
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