REITSWEEK has given here two sets of rankings for 22 Singapore REITs and Business Trusts. Singapore Stocks Triage has used the data for partial order ranking so that a new set of ranking that takes into account both the price gains and 12-month historical dividend distribution yields can be obtained. The results of the partial order ranking are visualized in the Hasse diagram below:
Effectively, the partial order ranking sorts the items (in this case the REITs and Business Trusts) according to more than one criteria. It also generates Levels that bin items into ordered categories or tiers. Items in the same Level are deem to be not comparable. Items are not comparable because their price gains and dividend yields are showing conflicting rankings. In the Hasse diagram above, there are 6 Levels. In the best Level (Level 6) based on partial order, there are 3 items or elements. They are Fortune REIT, Cambridge Industrial Trust and Sabana REIT. Among the 22 items, these 3 items can be perceived as top-tier (most outstanding). Conversely, CapitaRetail China Trust (assigned Level 1) can be perceived as the worst item (most disappointing).
Level structure:
Level 6 (3 elements):
Level 5 (8 elements):
Level 4 (4 elements):
Level 3 (4 elements):
Level 2 (2 elements):
Level 1 (1 element):
Effectively, the partial order ranking sorts the items (in this case the REITs and Business Trusts) according to more than one criteria. It also generates Levels that bin items into ordered categories or tiers. Items in the same Level are deem to be not comparable. Items are not comparable because their price gains and dividend yields are showing conflicting rankings. In the Hasse diagram above, there are 6 Levels. In the best Level (Level 6) based on partial order, there are 3 items or elements. They are Fortune REIT, Cambridge Industrial Trust and Sabana REIT. Among the 22 items, these 3 items can be perceived as top-tier (most outstanding). Conversely, CapitaRetail China Trust (assigned Level 1) can be perceived as the worst item (most disappointing).
Level structure:
Level 6 (3 elements):
- FORTUNE REIT HK$
- CAMBRIDGE INDUSTRIAL TRUST
- SABANA REIT
Level 5 (8 elements):
- FIRST REIT
- PARKWAYLIFE REIT
- AIMS AMP CAPITAL INDUSTRIAL TRUST
- STARHILL GLOBAL REIT
- MAPLETREE LOGISTICS TRUST
- LIPPO MALLS INDONESIA RETAIL TRUST
- MAPLETREE INDUSTRIAL TRUST
- SAIZEN REIT
Level 4 (4 elements):
- KEPPEL REIT
- FRASERS COMMERCIAL TRUST
- CACHE LOGISTICS TRUST
- SUNTEC REIT
Level 3 (4 elements):
- MAPLETREE COMMERCIAL TRUST
- ASCENDAS REIT
- FRASERS CENTREPOINT TRUST
- CAPITACOMMERCIAL TRUST
Level 2 (2 elements):
- CAPITAMALL TRUST
- ASCOTT RESIDENCE TRUST
Level 1 (1 element):
- CAPITARETAIL CHINA TRUST
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