Best performers have the lowest cost of equity and could make acquisitions if they chose to

SINGAPORE (Apr 3): At a time of economic and financial stress for equity markets, and in particular for the REIT sector, five REITs stand out. These are the top five performers this year. Among them, Keppel DC REIT rose 11% (see chart 1), followed by Ascendas REIT which was the best of the rest because it fell the least, followed by peer Mapletree Industrial Trust, ParkwayLife REIT and Mapletree Logistics Trust. Keppel DC REIT is the least affected by Covid-19. Its assets are largely tenanted on a core and shell basis, so it does not need the army of security guards, cleaners and mall managers that retail REITs and hospitality trusts require.

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