日前，据沪深交易所披露，多只REITs完成大宗交易，其中不乏千万元乃至亿元的成交规模。拉长时间 看，近期涨幅领先的消费类REITs"登榜"更为频繁，显示出机构对这一板块更为活跃的交易。截至5月14 日，消费REITs自上市以来平均上涨49.96%，在整个公募REITs市场中表现强劲。 另据华夏基金统计，截至2025年4月30日，消费REITs首发规模已达213.26亿元，在公募REITs各细分领 域中居于第三。 （文章来源：新华财经） 新华财经北京5月19日电据深交所官网消息，中金中国绿发商业资产封闭式基础设施证券投资基金审核 意见调整为通过，这是交易所获批的又一单消费REITs，原始权益人为山东鲁能商业管理有限公司。值 得注意的是，从3月4日受理到5月19日获审核通过，这单产品用时不到3个月。 资料显示，该项目底层资产为领秀城贵和购物中心，自2014年12月28日投入运营至今，已稳健运营了整 整十年。该购物中心坐落于济南市市中区，占地广阔，总建筑面积高达20.09万平方米，其中商业建筑 面积为16.21万平方米，可租赁面积更是达到8.47万平方米，铺面率约为52%，主营业区更是拓展至6 层。截至2024年9 ...

REITs 2025 年 05 月 18 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -24% -12% 0% 12% 24% 2024-05 2024-09 2025-01 沪深300 中证REITs全收益 相关研究报告 ——行业周报 齐东（分析师） 胡耀文（分析师） 杜致远（联系人） qidong@kysec.cn 证书编号：S0790522010002 《将 REITs 纳入沪深港通标的，保 障房 REITs 表现持续优异—行业周 报》-2025.5.11 《中金厦门安居保障房REIT启动扩 募，消费 REITs 表现持续优异—行 业周报》-2025.5.4 《首单权益型资产支持证券成功发 行，发行市场持续活跃—行业周报》 -2025.4.27 地方政策积极支持公募 REITs 产品发行，消费 REITs 表现持续优异 huyaowen@kysec.cn 证书编号：S0790524070001 duzhiyuan@kysec.cn 证书编号：S0790124070064 地方政策积极支持公募 REITs 产品发行，消费 REITs 表现持续优异 2025 年第 20 周，中证 REITs（收 ...

Group 1 - The S-REITs sector in Singapore experienced a decline of 6.2% due to the imposition of tariffs in early April, with a year-to-date total return of only 0.4%, underperforming the Straits Times Index and MSCI Singapore Index by 4.3% and 11.0% respectively [1] - The overall distribution per unit (DPU) for the S-REITs sector decreased by 2.8% year-on-year, with 7 out of 10 funds meeting market expectations, 1 exceeding expectations, and 2 falling short [1] - Notable declines in DPU exceeding 10% were observed in Mapletree Pan Asia Commercial Trust, SingPost Logistics Trust, and Mapletree Logistics Trust, attributed to high borrowing costs, unfavorable exchange rates, and reduced income from asset disposals [1] Group 2 - Institutional investors have seen a net outflow of approximately 495 million SGD from the S-REITs sector this year, particularly during the tense trade situation in early April, leading them to favor more defensive sectors such as telecommunications and non-cyclical consumer goods [1] - Singapore's OCBC Investment Research recommends investors to selectively choose high-quality stocks, particularly those with potential for distribution growth and strong asset portfolios, highlighting specific S-REITs such as CLAR, CICT, KDCREIT, and PLIFE [2] - By early 2025, the S-REITs market in Singapore is projected to rank second in Asia, with a total market capitalization of approximately 82 billion SGD, accounting for about 10% of the total market capitalization of the Singapore Exchange [2]

5月15日盘后，据沪深交易所披露，多只REITs在当日完成大宗交易，其中不乏千万元乃至亿元的成交规 模。拉长时间看，近期涨幅领先的消费类REITs"登榜"更为频繁，显示出机构对这一板块更为活跃的交易。 与频繁出现的大宗交易形成对比的是，多只REITs在二级市场方面每天仅有数百万元的成交量，有机构人士指 出，我国公募REITs在二级市场的投资者类型和市场流动性等方面仍有待提升，因此，需要采取拓宽公募 REITs投资者范围，加速增量资金入场以及优化估值与考核机制，引导市场估值提升等措施提升流动性。 以深交所数据为例，拉长时间看，近一个月内，多只消费类REITs成为大宗交易的"常客"，华夏华润商业 REIT、中金印力消费REIT以及华夏大悦城商业REIT等频繁登榜，而这也是近日相关板块走牛的缩影。 据统计，年内中证REITs指数平均涨幅高达8.34%，在震荡的权益市场背景下殊为难得，且领涨的多为消费类 基金。如华安百联消费REIT涨幅高达47.66%，华夏首创奥特莱斯REIT和华夏大悦城商业REIT涨幅亦超过四 成。此外，嘉实物美消费REIT和中金印力消费REIT涨幅分别达到了39%和30%。 华泰证券分析称，今年 ...

报告导读： 对底层资产现金流的剖析是进行 REITs 估值的基础，本文针对 REITs 估值进 行详细展开，由点到面分析当前 REITs 的估值逻辑。 REIT 估值方法主要包括三类：成本法，市场法和收益法，本质是分别基于投入成本、市场价值与未来收 益对 REIT 资产进行估值。 中国公募 REITs 政策明确要求以收益法作为基础设施项目估值的主要方法。 采用收益法契合 REIT 收益稳定性较高，强制分红等特征，也有利于倒逼提升 REITs 市场信息透明度。 ③ 经营收入到可供分配金额的调整。 REITs 要求分红需基于可供分配金额，因此虽然底层资产经营情况 是决定 REITs 估值的核心变量，但可供分配金额的调整对实际分红分派乃至估值模型的影响同样值得关 注。此外，期初预留资金与外部杠杆也会影响各期分配金额。我们将 EBITDA 与可供分配金额的差额设为 调整项，从实际项目情况来看，调整项对可供分配金额的影响普遍在 +/-20% 左右，部分项目影响超 50% ，甚至 100% 。 ④ 差补机制有利于平滑项目收入。 2024 年以来部分新发 REITs 项目带有收益分配调节机制，即通过协 议承诺保障底层资产的 ...

本报讯 （记者昌校宇）5月10日，中金基金发布公告称，中金厦门安居REIT已正式向中国证监会提交基金变更注册请示， 向上交所提交基金产品变更暨扩募份额上市申请，并获得受理。 本次扩募是中金厦门安居REIT对基金"首发+扩募"双轮驱动的有益实践，扩募有望助力基金在持续稳健经营的同时实现资 产的不断增值。公开资料显示，中金厦门安居REIT历史经营业绩凸显韧性，上市以来的10个季度末出租率均保持在99%以上。 2024年全年实现总收入7930万元，同比增长3.16%；实现EBITDA6141万元，同比增长4.46%；实现可供分配金额5815万元，同 比增长1.27%。2025年一季度末，基金延续稳健表现，实现收入2011万元，同比增长2.91%；实现EBITDA1594万元，同比增长 3.26%；实现可供分配金额1475万元，同比增长3.55%。 根据申报材料，中金厦门安居REIT本次拟购入基础设施项目均位于厦门市岛内，分别是位于厦门市思明区的保障性租赁住 房林边公寓项目，以及位于厦门市湖里区的公共租赁住房仁和公寓项目。拟购入基础设施项目建筑面积合计89917.98平方米， 共2689套租赁住房。本次购入基础设施项 ...

Peakstone Realty Trust (PKST) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Speaker0 Realty Trust First Quarter twenty twenty five Earnings Webcast Conference Call. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It Speaker1 is Speaker0 now my pleasure to introduce your host, Mr. Steve Sweth, Investor Relations. Please go ahead, sir. Speaker1 Good afternoon, and thank you for ...

Financial Data and Key Metrics Changes - The company's first quarter revenue increased by 4.7% year over year, reaching $175 million compared to $167.2 million in the prior year [6][28] - FFO as adjusted per share rose by 5.3% to $1.19 from $1.13 in the previous year, while AFFO increased by 8% to $1.21 from $1.12 [6][27] - The company is increasing its 2025 earnings guidance, with FFO as adjusted per share expected to range from $5.00 to $5.16, representing a 4.3% increase at the midpoint compared to the prior year [33][34] Business Line Data and Key Metrics Changes - The experiential portfolio comprises 276 properties, accounting for 94% of total investments, which are 99% leased or operated [11][12] - The education portfolio consists of 55 properties, which were 100% leased at the end of the quarter [11] - Percentage rents for the quarter increased to $3.3 million from $1.9 million in the prior year, primarily due to one early childhood education center tenant [29] Market Data and Key Metrics Changes - The North American box office for Q1 was $1.4 billion, down 11.6% year over year, largely due to the underperformance of "Snow White" [12] - However, Q2 box office through early May reached $1.1 billion, leading to a year-to-date increase of 17.1% compared to the same period in 2024 [13] - The company estimates the North American box office for 2025 will be between $9.3 billion and $9.7 billion [17] Company Strategy and Development Direction - The company is focusing on capital recycling, selling theater and education assets to reinvest in experiential properties [7][24] - New investments include a construction-themed attraction and a private golf club, reflecting the company's strategy to diversify its experiential portfolio [7][23] - The company aims to maintain disciplined investment spending, with a guidance range of $200 million to $300 million for 2025 [24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the resilience of experiential spending, noting that consumers often seek affordable entertainment options during economic downturns [10][37] - The company is closely monitoring potential tariffs impacting the film industry but believes that the current film slate for 2025 and 2026 is largely unaffected [37][89] - Management highlighted the ongoing strength in the box office and the importance of a robust film slate for future growth [16][86] Other Important Information - The company sold 10 leased early education centers, generating net proceeds of $70.8 million and recognizing a gain of $9.4 million [25] - The company has a strong liquidity position with $20.6 million in cash and $105 million drawn on its $1 billion revolving credit facility [33] - The common dividend was increased by 3.5% to $3.54 per share annualized, expected to be well covered with an AFFO payout ratio of 71% [35] Q&A Session Summary Question: Can you provide more details on the golf investment? - Management indicated that the golf investment is in a private club with reliable income flow and opportunities for growth due to scarcity in the market [44][46] Question: What is the nature of the buyers for recent dispositions? - Management noted a robust process with multiple bids from quality buyers, including a private fund specializing in education [47][49] Question: How do you see the strength of consumers today? - Management observed resilience in consumer spending, particularly in experiential activities, despite some pressure on food spending [100][102]

金十数据5月8日讯，花旗发表研究报告指，领展(00823.HK)近日股价上升，预期集团5月表现强劲。该 行表示，领展是即将推出的股票挂勾计划纳入房地产投资信托基金的最大受惠者，而且五一黄金周期间 利好零售业，加上3月香港零售业销售额的跌幅收窄。另外，市场预期美国联储局可能会在6月或之后降 息。该行续指，领展将于本月底公布2025财年业绩，预计其每单位分派按年增长2%，另料2026财年股 息率达7%，具吸引力。该行重申领展买入评级，目标价47.82港元，为香港房地产投资信托基金领域的 首选股。 花旗料领展5月表现强劲 目标价47.82港元 ...

【导读】REITs有望纳入沪深港通，领展房托领涨蓝筹！爱高集团暴涨超139% 5月7日，港股高开低走，恒生指数收涨0.13%，报22691.88点；恒生科技指数跌0.75%，报5200.04点；恒生中国企业指数跌0.23%，报8242.25点。全日大市 成交额2401亿港元，较前一交易日回升。南向资金净卖出额78.66亿港元。 REITs有望纳入沪深港通，领展房地产投资信托基金（以下简称领展房托）涨6.68%，中升控股涨4.80%，友邦保险涨2.92%，领涨蓝筹。 | 序号 | 名称 | 代码 | 现价 | 涨跌 | 涨跌幅 ▼ | 成交额 | 年初至今 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 领展房产基金 | 0823 | 39.950 c | 2.500 | 6.68% | 15.39亿 | 21.61% | | 2 | 中升控股 | 0881 | 12.220 c | 0.560 | 4.80% | 1.05亿 | -12.46% | | 3 | 友邦保险 | 1299 | 61.750 c | 1.750 | 2.92% | ...