REIT策略周报：节前蓄势，节后可期-20260223

Market Overview - The REITs index showed an overall increase during the week before the Spring Festival (February 6-13, 2026), with the China REITs total return index rising by 0.41% to close at 1047.08 [5][6] - New infrastructure and consumer REITs performed particularly well, with increases of 1.36% and 1.32% respectively, while municipal environmental REITs saw a decline of 0.22% [5][6] Market Dynamics - The REITs market stabilized before the festival, with significant gains in the new infrastructure and consumer sectors, which had previously experienced substantial adjustments [6] - The overall market performance has been under pressure since February, primarily due to profit-taking after a concentrated bullish sentiment and cautious sentiment stemming from the supply of commercial real estate REITs [6] - Despite ongoing applications for commercial real estate REITs, their impact on market sentiment has diminished [6] Future Outlook - Historically, the REITs market tends to see increased trading volume after the Spring Festival, leading to an optimistic outlook for the market [6] - Continuous monitoring of the supply side's project issuance rhythm, approval progress, and asset quality, as well as changes in demand, is recommended [6] - The REITs market is still in a period of policy dividend release, with sustained strong demand for market allocation, which is expected to support steady market growth [6]