REIT策略周报：季报披露在即，静待行情催化-20260117

Core Insights - The report suggests that high-quality projects can be acquired at lower prices, while projects with higher operational risks should be considered after the disclosure of operational data [1]. REITs Market Summary - The REITs index experienced an overall decline in the past week (January 9, 2025 - January 16, 2026), with the China Securities REITs total return index dropping by 0.36% to 1025.26 [5][6]. - Most sectors saw declines, particularly new infrastructure and energy REITs, with specific weekly performance as follows: industrial parks (0.38%), municipal environmental (−0.02%), consumption (−0.10%), warehousing (−0.42%), transportation (−0.52%), affordable housing (−0.73%), new infrastructure (−0.78%), and energy (−0.96%) [5][6]. - After a half-month bullish trend, market sentiment has started to recede, with profit-taking pressures evident across most REIT sectors, except for industrial parks [6]. Sector Performance Analysis - The consumption and IDC sectors have shown strong performance recently, despite facing profit-taking pressures, indicating robust support [6]. - The industrial park sector has performed relatively well, likely due to previous significant declines and strong bullish sentiment, although concerns remain regarding operational data for certain projects [6]. - The operational rights and affordable housing sectors are under more pressure, with some projects nearing year-end lows, reflecting ongoing valuation impacts and rising interest rates [6]. Future Outlook - The report maintains a bullish trend outlook, emphasizing a focus on structural opportunities within the REITs market, which is still benefiting from policy incentives and institutional demand for strong projects [6]. - It is advised to wait for the complete disclosure of quarterly reports before making selective investments [6].