Reits

Reits: Ahead of the earnings release for Spore Reits starting with Ascendas Reit later today, Daiwa says it expects a mixed bag for net property income and DPU growth because several Reits completed major acquisitions and refinancing during the quarter. Also expects distortions from asset refurbishments, divestments, and negative rental reversions to accelerate in the office space…

Maintains Neutral view for the broad sector, but continues to prefer the industrial-property and hospitality names for their above-sector average yields and positive DPU growth in the current low interest-rate environment. In industrial space, rates Ascendas Reit, Mapletree Logistics Trust, Cambridge Industrial Trust at Buy. In hospitality, rates Ascott Residence Trust, CDL Hospitality Trusts at Buy.