公募REITs大派“红包” 高股息属性凸显配置价值

Core Viewpoint - Public REITs are gaining attention from investors due to their high cash dividend distribution and low volatility in dividends, providing a strong supplement to high-yield assets in the market [2][4]. Summary by Sections Dividend Announcements - As of August 27, 17 public REITs have announced dividend distributions in August, with a total payout exceeding 767 million yuan. Notable distributions include 130 million yuan from Industrial Bank's North Highway REIT and 120 million yuan from Industrial Bank's Mengneng Clean Energy REIT [2][3]. - Three additional REITs are set to distribute dividends in September, with the Huatai Jiangsu Expressway REIT expected to distribute 147 million yuan [2]. Dividend Rates - The dividend rates for certain REITs are notably high, with Industrial Bank's Mengneng Clean Energy REIT at 11.24%, Huatai Jiangsu Expressway REIT at 8.18%, and Guotai Junan Jinan Energy Heating REIT at 5.13% [3]. Frequency of Dividends - Many public REITs are generous with their distributions, often conducting multiple dividend payouts within a year. For instance, several REITs have already executed their second dividend distribution this year since August [3][4]. - The Huatai China Communications REIT has distributed dividends 13 times since its establishment in April 2022, with its second distribution occurring in August [4]. Market Appeal and Asset Allocation - The high dividend yield of public REITs is increasingly recognized by investors for its positive role in asset allocation. Research indicates that public REITs can achieve a distribution ratio exceeding 90%, with many exceeding 97% [4]. - The overall scale of public REITs in public fund of funds (FOF) has reached 196 million yuan by the end of the second quarter, nearly doubling from the previous year [5]. - Incorporating public REITs into investment portfolios can reduce volatility, and as the REIT market expands, it is expected to attract more capital [5].