本周两单REITs申报

Investment Rating - The report maintains an "Overweight" rating for the REITs industry [1]. Core Insights - The REITs market has shown resilience with 31 out of 44 listed REITs experiencing price increases, resulting in an overall rise of 0.97% for the week. The highest gain was 4.52% for the Guokun Lingang Industrial Park REIT, while the largest decline was 5.56% for the E Fund Guangkai Industrial Park REIT [4][17]. - The total market capitalization of the REITs industry stands at 1236.03 billion, with a circulating market value of 603.21 billion [2]. - Recent policy support and economic stimulus have positively impacted the stock market, creating a favorable environment for REITs, which are expected to benefit from improved macroeconomic conditions and infrastructure asset operations [5]. Market Performance - The REITs market saw a trading volume of 16.3 billion this week, marking a 52.6% increase. Notable segments include highways at 4.8 billion (+50.2%) and ecological protection at 1.0 billion (+93.2%) [27]. - The performance of major indices includes a 15.70% increase in the CSI 300 and a 15.63% increase in the CSI 500, while the overall bond indices showed mixed results [14][17]. Key Events - The E Fund Guangkai Industrial Park REIT was listed on September 23, 2024, with a closing increase of 0.04%. Additionally, several new REITs have been filed for approval, including the Southern SF Warehousing Logistics REIT and the Huaxia Hefei High-tech REIT, which plans to expand its asset base [4][7]. - The report highlights the upcoming fundraising periods for various REITs, including the Zhongjin Liandong Science and Technology Innovation REIT and the Huaxia Nanjing Transportation Highway REIT, with respective offering prices of 3.234 yuan and 5.452 yuan per share [8][9]. Valuation Metrics - The estimated yield for various REITs ranges from 2.84% to 12.19%, with the highest yield observed in the Huaxia China Communications REIT at 12.19% and the lowest in the Huaxia TBEA New Energy REIT at 2.84%. The P/NAV ratios vary from 0.55 to 1.42, indicating a diverse valuation landscape within the sector [29].