公募REITs强势刷屏，供需“矛盾”如何解决？

Core Insights - The first two data center REITs listed on August 8 achieved a 30% limit-up on their debut, reflecting strong market demand for public REITs [1][2] - A total of 73 public REITs have been listed, with 15 achieving limit-up on their first day, indicating a significant trend in the market [3] - The average return for public REITs since listing is nearly 35%, with 17 products exceeding 50% returns, highlighting the profitability of these investments [6] Market Performance - The two newly listed data center REITs, Southern Wanguo Data Center REIT and Southern Runze Technology Data Center REIT, had significant trading volumes and high turnover rates on their first day [2] - The effective subscription multiples for these REITs were exceptionally high, with Southern Runze at 317.96 times and Southern Wanguo at 454.96 times, indicating strong investor interest [2] - Over 90% of the listed public REITs have seen price increases on their debut, with a notable number achieving over 20% and 10% gains [3] Investment Trends - The current public REITs market is characterized by a mismatch between high investor demand and insufficient supply of quality assets, which is a core issue [1][9] - The market has seen a significant increase in the concentration of investments and a tendency for investor preferences to align, which may lead to liquidity risks [9][10] - The performance of REITs is influenced by operational data and financial metrics, with certain sectors like consumption infrastructure and energy infrastructure showing better returns [7][8] Future Outlook - There is a pressing need to enhance the supply of quality REIT assets to meet the growing demand from investors [9][10] - Suggestions have been made to allow more flexibility in the types of entities that can act as original rights holders for public REITs, which could improve asset supply [10]