REIT计价模式
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REIT策略周报:特许经营权领跌,指数加速下探-20251221
GUOTAI HAITONG SECURITIES· 2025-12-21 08:55
Group 1 - The REITs index experienced a significant decline, with the total return index dropping by 2.85% to 999.19 during the week from December 15 to December 19, 2025 [5][6] - The most affected sectors were energy and transportation REITs, with declines of 2.66% and 4.44% respectively, while the storage sector fell by 1.52% and industrial parks by 1.78% [5][6] - Discussions regarding the REIT pricing model have garnered market attention, leading to a broader market pressure, particularly impacting concession projects, which saw the highest weekly decline of over 2.8%, marking the second-highest weekly drop of 2025 [6][7] Group 2 - The average daily trading volume for REITs increased to 460 million yuan, showing a marginal rise compared to the previous week, with new infrastructure and municipal environmental protection sectors having higher turnover rates of 0.68% and 0.60% respectively [6][7] - As of December 19, 2025, there were 78 listed REITs in the domestic market, with a total market capitalization of 214.1 billion yuan and a circulating market value of 115.5 billion yuan [6][7]