Asia Square Tower 2 (Photo: REITsWeek)Asia Square Tower 2, a property under CapitaLand Commercial Trust (Photo: REITsWeek)

Singapore REITs have rallied strongly in 1Q 2019 and institutional investors now appear to be taking a profit on the sector, said Morgan Stanley in a recently released observation.

The investment bank noted that prices of Singapore REITs rose 11% in 1Q 2019, outperforming the benchmark Straits Times Index (STI) by 6 percentage points.

This observation has come at a time when indices tracking Singapore REITs, including the FTSE ST REIT Index, have reached close to their respective 52-week highs.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.