In today’s briefing:
- SPH REIT Float Drops – Index Impacts To Come (Today and Beyond)
- MCT SP as MPACT Creeping Ever Higher Vs Peers
SPH REIT Float Drops – Index Impacts To Come (Today and Beyond)
- The SPH REIT Mandatory Chain Offer resulted in Cuscaden owning 61.68% of SPH REIT (SPHREIT SP)
- As per SPH REIT Offer Goes Unconditional – The Option Now and Index Impacts To Come, that meant substantial index downweights to come.
- One of those is today. Watch for a chunk of selling at the close.
MCT SP as MPACT Creeping Ever Higher Vs Peers
- Mapletree Commercial Trust (MCT SP) has crept higher vs the Peer Baskets, especially in the last 4-6 weeks as Other S-REITs have weakened.
- This sets the stage for a potentially large flowback into S-REITs as a class coming in a few weeks.
- It may be time to reconsider positioning, looking at where MPACT has been and will be.
Before it’s here, it’s on Smartkarma
