REITs

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PGP: Attractive Discount To NAV Valuation
Seeking Alpha· 2025-10-06 07:56
Financial analyst by day and a seasoned investor by passion, I've been involved in the world of investing for over 15 years and honed my skills in analyzing lucrative opportunities within the market.I specialize in uncovering high quality dividend stocks and other assets that offer potential for long term-growth that pack a serious punch for bill-paying potential. I use myself as an example that with a solid base of classic dividend growth stocks, sprinkling in some Business Development Companies, REITs, an ...
中资离岸债风控周报(9月29日至10月3日):一级市场发行趋缓 二级市场小幅上涨
Sou Hu Cai Jing· 2025-10-06 03:40
转自:新华财经 本周市场情况 一级市场: 据新华财经统计,本周(9月29日 - 10月3日)共发行11笔中资离岸债券,其中包括1笔离岸人民币债券、5笔美元债券、4笔港币债券、1 笔欧元债券,发行规模分别为5亿元人民币、10.77亿美元、15.2亿港币、1亿欧元。本周发行方式为直接发行的债券共9只,直接发行+担 保发行的债券共2只。 10月3日,奥园集团发布公告,截至2025年9月30日,发行人无法按计划完成"H20奥园1""H21奥园"原定兑付事项,根据经持有人会议审 议通过的有效议案,上述两只债券均存在30个交易日宽限期。根据宽限期相关条款约定,若公司在该宽限期内对本期债券到期本息进行 了足额偿付或通过债券持有人会议予以豁免或展期,则不构成发行人对本期债券的违约。 本周市场要闻 在离岸人民币债券领域,本周人民币企业债单笔最大发行规模为5亿元人民币,本周人民币债券发行最高票息1.96%,均由中信建投证券 股份有限公司发行。 在中资美元债券市场,本周美元企业债单笔最大发行规模约0.97亿美元,本周美元债发行最高票息4.191%,均由友邦保险控股有限公司 发行。 二级速览: 本周中资美元债收益率小幅上涨。截至北京 ...
JQC: Heavy Leverage Use And Generous Payouts Limit Appeal
Seeking Alpha· 2025-10-03 18:06
Core Insights - The article emphasizes the importance of a hybrid investment strategy that combines classic dividend growth stocks with Business Development Companies, REITs, and Closed End Funds to enhance investment income while achieving total returns comparable to traditional index funds [1]. Investment Strategy - The investment approach focuses on high-quality dividend stocks and assets that provide long-term growth potential, which can significantly contribute to income generation [1]. - The strategy aims to create a balanced portfolio that captures total returns on par with the S&P index, demonstrating the effectiveness of blending growth and income investments [1].
HPI: High Leverage Limits Appeal
Seeking Alpha· 2025-10-02 09:06
Income funds can be a great way to hedge your portfolio against the uncertainties and volatility that traditional equities may expose investors to. John Hancock Preferred Income Fund (NYSE: HPI ) aims to provideFinancial analyst by day and a seasoned investor by passion, I've been involved in the world of investing for over 15 years and honed my skills in analyzing lucrative opportunities within the market.I specialize in uncovering high quality dividend stocks and other assets that offer potential for long ...
外资REITs上市首日,机构早已布局三月!
Sou Hu Cai Jing· 2025-09-30 14:33
9月29日,上海证券交易所迎来了一位特殊"客人"——华夏凯德商业REIT。作为国内首单由国际资管公司发起的消费类REITs,其上市仪式可谓风光无限。 媒体镜头前,西装革履的金融精英们举杯相庆;交易大厅里,电子屏上的数字欢快跳动。表面看来,这不过是资本市场又一例寻常的金融创新。 以「弘业期货」为例(上图),当市场还将其视为普通券商影子股时,量化系统里的橙色柱体(反映机构资金活跃程度的指标)已持续活跃数月。这种"事 出反常必有妖"的数据特征,往往预示着后续的概念爆发。反观同属大金融概念的「百大集团」(下图),虽有短期反弹却缺乏持续的机构资金支持,最终 难免昙花一现。 凯德投资作为新加坡资管巨头,其操作手法在量化视角下尤为值得玩味。这些国际机构往往采用"明修栈道暗度陈仓"的策略:一方面高调宣传800亿资产管 理规模;另一方面通过衍生品市场悄然布局。我的系统曾捕捉到类似案例——某外资QFII在正式举牌前三个月,就已通过期权市场构建了相当于流通盘15% 的风险敞口。 这种操作在数据层面会形成特定模式:当现货市场成交平稳时,隐含波动率曲线却出现异常陡峭化;期权持仓量增速与标的价格变动呈现非线性关系。就像 考古学家通过陶器 ...
范为:房地产“止跌回稳”是渐进式复苏
Jing Ji Guan Cha Wang· 2025-09-30 11:02
Core Viewpoint - The real estate market is at a critical juncture of deep adjustment and policy easing, indicating a gradual soft landing rather than a rapid reversal [1][2][3] Policy Signals and Market Response - Recent policy adjustments, including the relaxation of purchase restrictions in multiple cities, signal a strong commitment to stabilize the real estate market [1][4] - The current phase is characterized by a transition from "policy bottom" to "market bottom," with a solid foundation being built for market recovery through ongoing policy support [3][4] - Core cities are showing early signs of stabilization in transaction volumes, while lower-tier cities are still in the process of bottoming out, reflecting a gradient recovery [3][4] Demand and Supply Dynamics - The policy focus is on demand-side recovery, aiming to stimulate reasonable housing demand and improve market expectations [2][5] - The current policy measures are designed to activate demand, optimize inventory, and guide expectations, thereby providing strong support for price stabilization [5][6] - Challenges remain on both supply and demand fronts, with lingering liquidity pressures on some real estate companies and cautious income expectations among residents [6][8] Strategic Transformation for Real Estate Companies - Real estate companies must adopt a strategic transformation to navigate the current cycle, emphasizing a shift from high-leverage development to high-efficiency operations [9][10] - Companies are encouraged to refine their business models, focusing on becoming stable suppliers in the affordable housing sector or premium developers in the market [9][10] - Emphasizing product and service value is crucial, with a focus on green, healthy, and smart housing solutions to enhance brand loyalty and customer engagement [9][14] REITs and Financing Models - The acceleration of REITs issuance is providing diversified financing channels, reducing reliance on traditional bank credit and promoting asset securitization [10][12] - REITs have enhanced investor participation and market stability, contributing to the overall confidence in the real estate sector [13][14] - The shift towards REITs is facilitating the recycling of existing assets and improving asset turnover efficiency, creating a positive feedback loop for investment [12][13]
财信人寿参与首单外资消费REITs战略配售
Jing Ji Wang· 2025-09-30 08:32
财信人寿方面表示,未来公司将在财信金控集团的支持和赋能下,充分发挥多牌照协同优势,携手各类 合作伙伴,深入挖掘湖南省内优质项目投资机会,持续加大在湘投资和引资入湘力度,为地方经济高质 量发展注入长期金融活水。 项目相关人士表示,华夏凯德REIT基本面坚实,收入稳定且构成多元。此次财信人寿与华夏凯德商业 REIT的合作,预示着双方未来将携手从税收、就业、投资、城市更新等多个维度深耕湖南、精耕湖 南。 近年来,财信人寿秉持长期合作理念,与伙伴形成紧密、高频、优质的合作关系。在不动产与基础设施 投资领域,财信人寿持续推进战略转型——投资品种从非标私募产品转向公募REITs、持有型ABS等标 准化产品,投资策略从传统商办领域拓展至公用事业、能源、保租房、数据中心等战略赛道。 数据显示,财信人寿立足服务国家战略,注重发挥耐心资本优势,已参与市场上超40%REITs标的,实 现了13类基础设施资产的全品类首单覆盖,目前持仓规模在中小保险中处于领先位置。 日前,财信人寿投资约5000万参与华夏凯德商业REIT战略配售,该REIT上市首日录得涨幅12.63%。作 为最大份额的外部投资人,本次投资也是财信人寿深化在湘投资,服务 ...
中国首单外资消费REITs项目在上交所上市
Zhong Guo Xin Wen Wang· 2025-09-29 14:03
中国首单外资消费REITs项目在上交所上市 华夏凯德商业REIT主要原始权益人的控股股东凯德投资是成立于新加坡的国际知名不动产资产管理公 司,底层资产为位于广州、长沙核心商圈的两个成熟购物中心,运营业绩表现良好,为国内资本市场投 资者提供了消费类不动产的资产配置新选择。项目回收资金主要用于中国境内优质资产建设和收购,对 提升消费供给效能,提振和扩大消费发挥积极作用。凯德投资在中国18个城市管理40多个零售物业,资 产规模超800亿元(人民币,下同),为REITs产品未来扩募提供了丰富的资产储备。 截至目前,上交所共有51单REITs首发上市,融资规模达1343.90亿元,资产类型不断拓展,参与主体更 为多元,投资者类型更加丰富,已形成良好规模效应和示范效应。下一步,上交所方面表示,将始终坚 持以服务实体经济和国家战略为己任,积极践行资本市场对外开放政策,促进REITs市场生态不断优 化,市场运行平稳有序,市场参与主体获得感不断增强,服务实体经济高质量发展。(完) 来源:中国新闻网 中新经纬版权所有,未经书面授权,任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"j ...
首单外资消费REITs华夏凯德商业REIT在上交所成功上市
Jin Rong Jie· 2025-09-29 08:46
Core Insights - The successful listing of Huaxia CapitaLand Commercial REIT on the Shanghai Stock Exchange marks a significant milestone in the internationalization and diversification of China's public REITs market, coinciding with the 35th anniversary of diplomatic relations between China and Singapore [1][2] Group 1: Fund Overview - Huaxia CapitaLand Commercial REIT is the first foreign-funded consumer REIT initiated by CapitaLand Investment, a leading global real estate asset management company [1] - The fund's underlying assets include CapitaLand Plaza Yunshang and CapitaLand Plaza Yuhua Pavilion, which are characterized by high asset quality and an efficient operational team, ensuring stable operations and continuous performance growth [1] Group 2: Fundraising Success - During the fundraising phase, Huaxia CapitaLand Commercial REIT garnered significant attention, with a target fundraising scale of 2.2872 billion yuan and total subscription funds exceeding 309.17 billion yuan, resulting in effective subscription multiples of 535.2 times for public investors and 252.6 times for offline investors [2] Group 3: Leadership Statements - CapitaLand Investment's CEO emphasized the integration of international REITs management experience with the Chinese market, providing domestic investors with a new channel for quality asset allocation in a low-interest-rate environment [2] - Citic Securities' Executive Director highlighted the collaboration with CapitaLand as a milestone in their long-term partnership and a significant practice in the opening of China's capital market and deepening financial cooperation between China and Singapore [2] Group 4: Future Outlook - With the collaborative efforts of regulatory bodies, original rights holders, operational management, fund managers, and investors, Huaxia CapitaLand Commercial REIT is expected to become a benchmark product with stable returns and growth potential, aiming to create sustainable and competitive returns for investors [2]
首程控股(00697):北京平准基金投资华夏凯德商业REIT
智通财经网· 2025-09-29 04:19
集团未来将坚定不移地持续加大在中国核心智能基础设施不动产领域的投资佈局,依托全产业链协同效 应及REITs领域先发优势,与国际领先的REITs管理机构实现协同合作,为基础设施资产相关业务的升 级和提质注入更强动力,并巩固在REITs市场的领先地位。 智通财经APP讯,首程控股(00697)发布公告,近日,集团所属首程基石旗下公司(公司全资附属公司)参 与管理的北京平准基础设施不动产股权投资基金合伙企业(有限合伙)(北京平准基金)投资华夏凯德商业 资产封闭式基础设施证券投资基金(华夏凯德商业REIT) 。本次投资有助于进一步丰富消费场景、优化 消费环境,推动居民消费升级并激发消费动能,对发展服务消费、促进经济高质量发展具有积极作用。 凯德商用*(CapitaLand Mall Asia Limited)的控股股东和实际控制人为凯德投资有限公司 *(CapitaLand Investment,凯德投资),凯德投资为亚洲知名的大型多元化不动产集团 —凯德集团*(CapitaLand Group) 旗下公司。凯德投资是立足亚洲、领先全球的不动产资产管理公司,也是亚太地区领先的房地产投资信 托基金管理公司。华夏凯德商业 ...