Dear readers, let us take a look at the Oversold and Overbought Singapore Reits and Trusts right now.
There is only one oversold Reit and it is none other than First Reit. First Reits currently trades at 0.667 Price-to-Book ratio but investors may want to take a close look at the fundamentals of the Reit and its business going forward especially so, when it was reported earlier this month that First Reit is poised to lose rental support from its sponsor and master lessees.
As for the overbought Singapore Reits and Trusts, there are no overbought Reits right now, though there are two overbought Trusts. The two overbought trusts are CDL Hospitality Trust and Mapletree NAC Trust.
CDL Hospitality Trust currently trades at 0.752 Price-to-Book ratio and at 6.05% dividend yield. Since reaching a 52-week low of $0.635 in March 2020, the Trust has rebounded by over 80% to $1.15 yesterday.
Similarly, Mapletree NAC Trust has rebounded from a 52-week low of $0.63 in March 2020 to $0.97 yesterday, by about 33.5%. The trust is trading at 0.687 Price-to-Book ratio and at 7.34% dividend yield.
Oversold stocks and overbought stocks do not necessarily mean that these stocks are poised to rebound or go down next. Investors should carry out their own due diligence before investing in any stocks.
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