破发三天仍未“回正”，公募REITs打新不香了？

Core Viewpoint - The recent performance of newly listed public REITs has significantly declined, contrasting sharply with the high subscription multiples during their issuance, with some even falling below their issue prices [1][2][4]. Group 1: Market Performance - The overall public REITs market has been sluggish, with trading volume and turnover rates decreasing since August, leading to lower new issuance returns [4][5]. - As of November 10, the CSI REITs total return index has dropped by 5.32% in the second half of the year [2]. - Several newly listed REITs have shown poor performance post-listing, with some experiencing minimal price increases or even declines [3][4]. Group 2: Specific REIT Performance - A software park REIT listed on November 6 opened below its issue price and has remained in a state of decline, closing at 3.596 yuan, below the issue price of 3.66 yuan [2]. - Other newly listed REITs have also struggled, with one only achieving a 3.5% increase over its first seven trading days [3]. Group 3: Market Sentiment and Future Outlook - The sentiment in the REITs market is affected by the performance of underlying assets and the overall market conditions, leading to a "divided" situation in new issuance returns [5][6]. - Analysts suggest focusing on three main lines in the secondary market: stable anti-cyclical sectors, assets with marginal recovery in demand, and those with strong expansion demands from original equity holders [7].