Earnings season is here, and three blue-chip REITs are stepping up to the plate next week.For dividend investors, these reports serve a purpose beyond the headlines. They’re your financial health check — a chance to ensure the distribution engine continues to hum along smoothly.But not all earnings releases tell the same story.CapitaLand Integrated Commercial Trust (SGX: C38U) offers a window into Singapore’s retail and office recovery, with its ION Orchard acquisition now bedded down. Mapletree Logistics T ...

Core Insights - CapitaLand Integrated Commercial Trust (CICT) has raised its distribution, resulting in a trailing annualised yield close to 5%, making it an attractive option for income investors [1][11] Background - CICT is Singapore's largest REIT with a diverse portfolio of 26 properties valued at S$27 billion as of December 31, 2024, primarily located in Singapore, with additional properties in Germany and Australia [1] Recent Performance - CICT's share price increased by 21% year-to-date to S$2.34, while revenue for the first half of 2025 decreased slightly by 0.5% YoY to S$787.6 million [3] - Net property income (NPI) also saw a minor decline of 0.4% YoY to S$579.9 million, but distributable income rose by 12.4% YoY due to improved performance and contributions from ION Orchard [3][4] - The distribution per unit increased by 3.5% YoY to S$0.0562 per share, maintaining steady growth post-COVID [4] Portfolio Composition - CICT's portfolio includes high-quality retail malls and prime office buildings located in Singapore's central business district [5][6] - The overall occupancy rate across its portfolio is 96.3% as of June 30, 2025, with strong tenant renewal rates of 81.8% for retail and 76.8% for office properties [6] - Retail properties contributed S$218.8 million in NPI, accounting for 37.7% of total NPI, while office properties contributed S$183.6 million, making up 31.7% of total NPI [8] Financial Strength - CICT has a low aggregate leverage ratio of 37.9% as of June 30, 2025, which is considered a strength [8] Investment Consideration - CICT is viewed as one of the safest and most liquid REITs in Singapore, with a distribution increase reflecting management's confidence in recovery and growth [11] - The REIT is recommended for investors seeking long-term stable income due to its solid yield and diversified portfolio [13]