Brief Overview:Mapletree Logistics Trust (SGX: M44U), or MLT, focuses its investments on logistics properties.As at 31 December 2025, the REIT’s 174 properties are located in the Asia Pacific region (Singapore, Australia, China, Hong Kong, India, Japan, Malaysia, South Korea, and Vietnam) worth S$13.0 billion. Financial Figures (3Q FY2024/25 vs. 3Q FY2025/26):3Q FY2024/253Q FY2025/26% Gain/LossGross Revenue (S$’mil)$182.4m$176.8m-3.1%Property Operating Expenses (S$’mil)$25.2m$24.8m-1.6%Net Property Income ( ...

Core Viewpoint - The article highlights three high-quality dividend stocks—Brookfield Infrastructure, ExxonMobil, and Prologis—that offer attractive yields above 3% and are expected to continue increasing their dividends due to strong business fundamentals and financial profiles [1][14]. Group 1: Brookfield Infrastructure - Brookfield Infrastructure has a dividend yield of approximately 3.8% and operates a diverse portfolio across utilities, transportation, energy midstream, and data sectors, generating stable cash flows backed by long-term contracts [2][5]. - The company aims to distribute 60% to 70% of its stable cash flows as dividends while retaining the rest for reinvestment, with a backlog of $7.8 billion in capital projects expected to be completed in the next two to three years, primarily in the data segment [3][5]. - Brookfield has secured $1.5 billion in new business deals over the past year and anticipates growing its funds from operations by over 10% annually, which should drive dividend increases of 5% to 9% each year [5][14]. Group 2: ExxonMobil - ExxonMobil has a dividend yield of just over 3% and benefits from a large-scale, integrated business model that mitigates the impact of oil price volatility on earnings [6][8]. - The company expects to achieve $25 billion in earnings growth and $35 billion in cash flow growth by 2030, driven by structural cost savings and high-return capital projects [8][9]. - ExxonMobil plans to generate approximately $145 billion in cumulative surplus cash over the next five years, allowing for continued dividend increases, having raised its dividend for 42 consecutive years [9][14]. Group 3: Prologis - Prologis offers a dividend yield of 3.2%, supported by stable cash flows from long-term leases that typically include annual rental escalations [10][12]. - The REIT maintains a conservative dividend payout ratio and a strong balance sheet, providing financial flexibility for portfolio expansion through development projects and acquisitions [12][13]. - Prologis primarily invests in logistics properties and aims to leverage its land bank and expertise in developing data centers, which should facilitate ongoing dividend growth, having increased its payout at a 13% compound annual rate over the last five years [13][14].

Singapore’s REIT sector heads into January 2026 with investors seeking clarity on their future. In particular, there are three Straits Times Index (SGX: ^STI) REITs that are set to release earnings updates that could signal turning points in their respective growth trajectories. From a logistics REIT showing signs of stabilisation in a challenging China market, to an industrial REIT navigating North American headwinds, to a data centre specialist riding acquisition-driven momentum, each offers distinct cata ...

Core Insights - The REIT sector is appealing for income investors due to its requirement to distribute at least 90% of earnings for tax benefits, making it essential to evaluate the growth of these distributions in line with inflation [1] Group 1: CapitaLand Integrated Commercial Trust (CICT) - CICT has a portfolio of 26 properties with an AUM of S$25.9 billion as of 31 December 2024, supported by its sponsor CapitaLand Investment Limited [3][4] - For 1H 2025, CICT reported gross revenue of S$787.6 million, a decrease of 0.5% year on year, while net property income (NPI) fell by 0.4% to S$579.9 million [5] - The distribution per unit (DPU) increased by 3.5% year on year to S$0.0562, with a recent acquisition of a 55% interest in CapitaSpring's office tower expected to raise pro-forma DPU to S$0.0568 [5][6] Group 2: Frasers Centrepoint Trust (FCT) - FCT manages a portfolio of nine suburban malls and an office building, with an AUM of approximately S$7.1 billion as of 30 June 2025, backed by Frasers Property Limited [7] - FCT's DPU increased by 0.5% year on year to S$0.06054, supported by a 7.1% rise in gross revenue to S$184.4 million [9] - The recent acquisition of Northpoint City South Wing for S$1.17 billion is expected to boost FY2024 DPU by 2% [8][9] Group 3: Mapletree Logistics Trust (MLT) - MLT has a portfolio of 178 properties with an AUM of S$13 billion as of 30 June 2025, sponsored by Mapletree Investments Pte Ltd [10] - For 1Q FY2026, MLT reported a gross revenue decline of 2.4% year on year to S$177.4 million, with DPU down 12.4% to S$0.01812 [11] - MLT is actively involved in capital recycling, selling older assets and redeveloping properties to enhance its portfolio [11][12] Group 4: Digital Core REIT (DCR) - DCR focuses on data centres with a portfolio of 11 properties and an AUM of US$1.7 billion, achieving a high occupancy rate of 98% as of 30 June 2025 [13] - For 1H 2025, DCR's gross revenue surged by 84.2% year on year to US$88.9 million, while NPI increased by 52.2% to US$46.3 million [14] - Despite flat DPU year on year at US$0.018 due to higher finance costs, DCR maintains a leverage ratio of 38.3%, allowing for potential future acquisitions [14]

Market Overview - The market is at a record high, raising concerns among investors about valuations outpacing fundamentals [1] - Despite market rallies, certain REITs are still presenting attractive dividend yields above 6% [1] Frasers Logistics & Commercial Trust (FLCT) - FLCT focuses on logistics and commercial properties across developed markets including Singapore, Australia, and the UK [2] - The share price has faced pressure due to higher borrowing costs, leading to a 13.8% year-on-year decline in distribution per unit (DPU) to S$0.03 for the half year ended 31 March 2025 [2][3] - FLCT currently offers a distribution yield of 6.7%, with potential upside as interest rates may taper down [3] - The overall portfolio occupancy rate is 93.9%, with logistics & industrial at 99.6% and commercial at 84.1% as of 1HFY25 [3][4] - The weighted average lease expiry (WALE) is 4.6 years for the overall portfolio [4] Mapletree Industrial Trust (MIT) - MIT is an industrial-focused REIT with exposure to data centres and high-specification properties [5] - For the first quarter ended 30 June 2025, MIT's DPU decreased by 4.7% year-on-year to S$0.0327, primarily due to the absence of prior year's divestment gain [5][6] - MIT maintains a dividend yield of around 6.3%, supported by stable rental demand, particularly from data centres [6] - The average portfolio occupancy rate is stable at 91.4%, with a WALE of 4.5 years [6] Mapletree Logistics Trust (MLT) - MLT is a pan-Asian logistics REIT with a diverse portfolio across several countries [9] - For the first quarter ended 30 June 2025, MLT's DPU fell by 12.4% year-on-year due to currency fluctuations, divested assets, weaker performance in China, and higher financing costs [9][10] - The portfolio occupancy rate is 95.7%, with a positive rental reversion of 2.1% [9][10] - MLT's aggregate leverage ratio is steady at 41.2%, with a weighted average borrowing cost of 2.7% per annum [10] Investment Considerations - The REIT sector continues to offer stability and attractive yields, with distribution yields above 6% providing a buffer against market volatility [11][12] - Investors are advised to consider balance sheet strength and asset quality alongside yield when selecting REITs [12] - Established REITs like FLCT, MIT, and MLT are noted for their attractive dividend payouts supported by strong fundamentals [12]

Core Viewpoint - Investing in real estate, particularly through Real Estate Investment Trusts (REITs), offers a straightforward way to generate passive income with minimal effort [2][16] Group 1: Agree Realty - Agree Realty focuses on acquiring and developing high-quality retail properties leased to financially strong retailers, with 68.3% of its rent coming from tenants with investment-grade credit [4][6] - The company has a monthly dividend yield of over 4% and has grown its payout at a 5.5% compound annual rate over the past decade [5][6] - Agree Realty maintains a low dividend payout ratio of 72% of its adjusted funds from operations, allowing for cash retention for further investments [6] Group 2: Prologis - Prologis is one of the largest REITs globally, specializing in logistics properties leased under long-term contracts, providing steady rental income [8][10] - The company benefits from strong demand for warehouse space, allowing for new leases at higher market rates, which is expected to drive net operating income growth [9][11] - Prologis has delivered a 13% compound annual dividend growth over the past five years, outperforming the S&P 500 and the REIT sector average [11] Group 3: Mid-America Apartment Communities - Mid-America Apartment Communities is a major apartment landlord in the U.S., owning over 104,000 apartment homes, primarily in the Sun Belt region [12][14] - The REIT has a history of 125 consecutive quarterly dividends, demonstrating a strong record of dividend stability and growth [13] - The company is investing $657.3 million into properties currently in the lease-up phase and plans to spend another $851.5 million on additional development projects [14][15] Group 4: Investment Opportunities - Top REITs like Agree Realty, Prologis, and Mid-America Apartment Communities possess high-quality real estate portfolios and strong financial profiles, enabling them to pay lucrative and growing dividends [16]