公募REITs上市首日再现涨停 优质资产供需矛盾待解

Core Insights - The first two data center REITs were listed on August 8, achieving a 30% limit-up on their debut, reflecting strong market demand for REITs [1][2] - A total of 73 public REITs have been listed, with an average return of nearly 35% since their launch, indicating a significant profit effect [1][4] - The current public REITs market size is just over 200 billion yuan, which is insufficient to meet the large-scale capital allocation needs [1][7] Group 1: Market Performance - On August 8, the Southern Universal Data Center REIT and Southern Runze Technology Data Center REIT both achieved a 30% limit-up on their first trading day [2] - Among the 73 listed public REITs, 67 saw their prices rise on the first day, with 15 achieving a 30% limit-up, representing 20.55% of the total [3] - The average return of public REITs since listing is close to 35%, with 17 products yielding over 50% [4] Group 2: Demand and Supply Dynamics - There is a significant mismatch between the strong demand for REITs and the insufficient supply of quality assets [1][7] - The public REITs market currently has a scale of just over 200 billion yuan, which limits its capacity to accommodate large-scale capital [7] - Investors have shown a preference for high-quality assets, leading to concerns about liquidity risks in the market [7][8] Group 3: Future Recommendations - It is suggested to gradually allow investment institutions and Pre-REITs funds to act as original rights holders for public REITs to enhance the supply of quality assets [8] - Implementing these measures could potentially activate existing assets and stimulate investment, aligning with policy objectives [8]