You can think of the Straits Times Index (SGX: STI) as Singapore’s all-star team – the top 30 companies that set the tone for the local stock market.But here’s the twist, the lineup isn’t fixed. Every quarter, the STI gets reviewed, and if a company loses its edge, it can be swapped out for one of the strong contenders waiting on the sidelines.The last change occurred on 23 June 2025, when Jardine Cycle & Carriage (SGX: J36) was dropped in favour of Keppel DC REIT (SGX: AJBU).A year earlier, in March 2024, ...

After years of underperforming the S&P 500 index, and most especially the technology sector, real estate investment trusts (REITs) are back in the game. With the Federal Reserve now set to lower interest rates for the remainder of 2025 and into 2026, a real super cycle scenario is brewing in the background for investors who know what they are looking for. The bull case for the real estate sector is different from most others during times of rate cuts. The reason is that these rate cuts aren’t like the ones ...

Key Points Annaly Capital offers a high dividend yield of 13.3%, while Realty Income provides a lower yield of 5.3% and a history of consistent increases. Annaly Capital invests in mortgage-backed securities and uses leverage to boost returns. Realty Income invests in commercial properties and earns rental income from tenants that support its growing dividend payout. 10 stocks we like better than Annaly Capital Management › Dividend stocks can be an excellent source of passive income and also sta ...

Summary of Conference Call on China Property Industry Industry Overview - **Industry**: China Property - **Region**: Asia Pacific - **Current Sentiment**: Cautious outlook for the property market in 4Q 2025 due to declining sales and construction activity [1][4] Key Points Sales Performance - **August Sales Decline**: Property sales in August saw a year-on-year decline of **14.0%** in value and **10.6%** in volume, contributing to an **8M25** decline of **7.3%** in value and **4.7%** in volume [2][6] - **Home Prices**: NBS 70-city home prices decreased by **0.3%** month-on-month in primary markets and **0.6%** in secondary markets in August, indicating a continued downward trend [2] Construction Activity - **Completions**: Construction completions fell by **21%** year-on-year in August, with an **8M25** decline of **17.0%** [3] - **New Starts**: New construction starts dropped by **20%** year-on-year in August, deepening the **8M25** decline to **19.5%** [3] - **Land Sales**: Sluggish land sales were noted, with a **12%** year-on-year drop in volume across **300 cities** [3] Market Sentiment - **Cautious Resident Sentiment**: High-frequency sales data indicates a worsening sentiment among residents, leading to lower listing prices and higher listing volumes [4] - **Policy Outlook**: The expectation is that nationwide housing policy will remain muted, with no significant stimulus anticipated [4] Investment Recommendations - **Defensive Strategy**: Given the weak sales outlook, the recommendation is to focus on state-owned enterprises (SOEs) with good visibility, such as: - **Consumption Beneficiaries**: CR Land (1109.HK) and CR Mixc (1209.HK) - **High-Dividend-Yield Plays**: C&D International Investment Group (1908.HK) [5] Additional Insights - **Inventory Levels**: High inventory levels are contributing to the weak construction outlook for 4Q 2025, posing potential downside risks to forecasts [3] - **Economic Impact**: The property market's role in driving economic growth is diminishing, further complicating recovery prospects [4] Financial Data Summary (8M25) - **Total Sales Value**: **Rmb 5,502 billion**, down **7.3%** YoY - **Residential Sales Value**: **Rmb 4,845 billion**, down **7.0%** YoY - **Total GFA Sold**: **573 million sqm**, down **4.7%** YoY - **Total RE Investment**: **Rmb 6,031 billion**, down **12.9%** YoY [6] This summary encapsulates the current state of the China property market, highlighting significant declines in sales and construction, cautious sentiment among residents, and strategic investment recommendations amidst a challenging environment.

Core Insights - Firm Capital Property Trust reported financial results for Q2 and the first half of 2025, highlighting a sale of investment properties for gross proceeds of $15 million and an increase in same-property NOI [1][5] - The Trust's NAV per unit increased by 1.7% year-over-year, indicating growth in asset value [5] Property Portfolio Highlights - The portfolio includes 62 commercial properties with a total gross leasable area of 2,427,383 square feet, five multi-residential complexes with 599 units, and four manufactured home communities with 537 units [2] - 50% of NOI is derived from grocery-anchored retail, followed by industrial properties at 25% [2] - Geographically, 37% of NOI comes from Ontario and 36% from Quebec [2] Tenant Diversification - The tenant profile is well diversified, with no single tenant accounting for more than 13.1% of total net rent, and the top 10 tenants representing 32.2% of total net rent [3] Q2/2025 Financial Highlights - Rental revenue for Q2 2025 was $15.3 million, a 2% increase from Q2 2024 [4] - NOI on an IFRS basis was approximately $9.6 million, showing a slight decrease of 1% year-over-year [4] - Net income for Q2 2025 was $4.4 million, down 50% from the previous year [4] - AFFO was approximately $4.5 million, with an AFFO payout ratio improving to 106% [5] Occupancy Rates - Commercial occupancy stood at 93.8%, multi-residential at 94.4%, and manufactured home communities at 100% [5] Financial Metrics - Total assets decreased by 1% to $637.2 million, while total mortgages decreased by 4% to $302.3 million [4] - The Trust completed the sale of retail properties for gross proceeds of $29.3 million, recognizing a gain of approximately $1.8 million [5] Distribution Information - The Trust declared monthly distributions of $0.04333 per unit for the upcoming months, payable in November 2025, December 2025, and January 2026 [5] Investment Strategy - Firm Capital Property Trust aims to create long-term value through capital preservation and disciplined investing, focusing on a diversified property portfolio [9]

These real estate investment trusts are well-positioned to deliver heaps of passive income. The first quarter of earnings reports following the Trump administration's new taxes on imported goods have mostly been announced already. So far, the only thing we can say for certain is that the tariffs are going to sting. Exactly how much they'll hurt is still anybody's guess. If an unpredictable trade war has you feeling queasy about the overall stock market, consider adding shares of Realty Income (O 1.28%) and ...

Financial Performance & Disposals - CSI made sales of approximately HK$1.55 billion and had unrecognized contracted sales commitments of approximately HK$1.22 billion for FY2025 [9] - Key disposals were completed in FY2025, including car parking spaces in Tuen Mun, units at Broadway Center (CSI-60%) in Macau, and units at Dukes Place (CSI-60%) in Jardine's Lookout [10] - Pre-sales achieved up to June 2025 are expected to generate approximately HK$2.57 billion in future bookings [10] - Gross revenue from property business decreased to HK$521 million in FY25 from HK$1,579 million in FY24 [11] - The company reported a loss attributable to equity holders of HK$1.692 billion in FY25, primarily due to adverse changes in the fair value of JV properties [11] Balance Sheet & Debt Management - Total assets decreased from HK$26.238 billion in FY24 to HK$22.325 billion in FY25 [12] - Bank loans decreased from approximately HK$7.9 billion in FY24 to approximately HK$6.9 billion in FY25 [17] - The company successfully refinanced a US$296 million bond due in July 2025 with a new US$150 million bond issue at 10.5% [21] - A strategic rights issue closed in April 2025 brought in approximately HK$1.49 billion, and a private bond issued to Gaw Capital added approximately HK$500 million to enhance cash liquidity [12] Strategic Initiatives - A strategic funding and partnership proposal was announced, including a rights issue (approximately HK$1.5 billion) and bond issuance (HK$500 million), with Gaw Capital becoming a long-term strategic investor [24] - The company commits to a sale target of at least HK$9 billion in sales in the next 4 years [24, 38] - The company has a robust pipeline of quality assets to support the HK$9 billion+ active asset disposal program, with over HK$2.57 billion in pre-sales achieved up to June 2025 [38, 40]

Core Viewpoint - Investors are attracted to ultra-high-yield stocks, but such yields often indicate concerns about future cash flows and sustainability of dividends [1] Group 1: Realty Income - Realty Income has a diversified portfolio of over 15,600 buildings across the U.S. and nine European countries as of March 2025 [5] - The company has consistently raised its monthly dividend payout every quarter since going public in 1994, resulting in a 46% increase over the past decade, leading to a current yield of 5.7% [6][9] - Realty Income's business model relies on net leases, which provide predictable cash flows due to tenants covering variable expenses and long-term lease agreements [7] - The company can borrow at lower interest rates compared to peers, exemplified by a recent $600 million raise at 5.125%, only slightly above current Treasury rates [8] - Realty Income's large addressable market and access to cheap capital suggest potential for continued dividend increases [9] Group 2: NNN REIT - NNN REIT operates a portfolio of 3,641 buildings, all located in the U.S., with a diverse tenant base where the largest tenant accounts for only 4.5% of annual rent [10][11] - The company has raised its quarterly dividend for 35 consecutive years, with a 33% increase over the past decade, currently offering a 5.6% dividend yield [12] - In the first quarter, NNN REIT's funds from operations (FFO) grew 3.6% year over year to $0.85 per share, supporting its quarterly dividend payout of $0.58 per share [13]

Realty Income (O 1.81%) has become a dividend stalwart, even for a REIT that has to pay out at least 90% of its net income in the form of dividends. The commercial property owner, otherwise known as the "monthly dividend company," has increased its payout at least once a year since 1994. Additionally, its dividend yield now stands at 5.9%, more than quadruple the S&P 500 (^GSPC 1.81%) average of 1.35%. Thanks to this massive return, generating $1,000 of sustainable dividend income is possible on a relativel ...