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GPR/APREA Composite REIT Index Slipped 1.6% In May 

Industrial and HealthCare sectors fell

By Jeroen Vreeker, Managing Director at Global Property Research

June 6, 2022 – Shares of Asia Pacific REITs extended their decline for a second month, with the GPR/APREA Composite REIT Index slipping to a 1.6% loss in USD terms. Thailand (-1.9%), Singapore (-2.9%) and specifically Australia (-6.5%) weighed negatively on the regional average. 

The GPR/APREA Composite REIT Index also underperformed regional equities, which gained  0.7% during the period. The table below shows the total return performances realised in the previous month for the various currencies available for the GPR/APREA Composite REIT Index.


EURJPYLOCUSD
GPR/APREA Composite REIT Index-3.1%-2.3%-2.3%-1.6%

The total return performances for the various sectors recorded in May 2022 tracked the month’s decline. Losses were seen for the Industrial (-4.1%) and HealthCare (-3.1%) sectors, although the Residential sector showed strength, returning 1.0%.


DIVHCRHOTINDOFFOTHRESRET
GPR/APREA Composite REIT Index-0.7%-3.1%0.6%-4.1%-0.3%n/a1.0%0.3%

In terms of individual REITs, the best-performing were DDMP REIT Inc. (PHL: 14.1%), Champion REIT (HKG; 9.3%), US Masters Residential Property Fund (AUS; 9.0%), Ooedo Onsen REIT Investment (JPN; 7.2%) and Orix JREIT Inc. (JPN; 7.0%). 

The worst performance, meanwhile, came from Goodman Group (AUS; -13.5%), Centuria Industrial REIT (AUS; -13.2%), 360 Capital Group Limited (AUS; -12.9%), HealthCo Healthcare and Wellness REIT (AUS; -12.6%), and Ingenia Communities Group (AUS; -11.5%).

The comprehensive GPR/APREA Composite REIT Index currently covers 182 Asia Pacific REITs. Following the latest quarterly rebalancing of the GPR/APREA index series – which will take effect on June 20, 2022 start of trading – Dusit Thani Freehold and Leasehold Property Fund (Thailand) will be added to the GPR/APREA Composite REIT Index.