Introduction
Twenty REITs. Four markets. One striking twist: every entry in this ranking carries the same Distribution Safety Score of 25. That instantly shifts the question from simple rank order to something more revealing—what separates Asian REITs when the headline safety metric ties across the entire field?
In this dataset, Distribution Safety Score is a derived payout resilience indicator on a 0-100 scale where higher indicates stronger distribution coverage and stability. Here, the score itself does not create dispersion because every listed REIT sits at 25. As a result, the analysis moves to the supporting variables around that common score: current yield, five-year average yield, NAV premium or discount, payout streak, and five-year distribution growth.
The ranking covers 20 REITs across Singapore, Malaysia, Japan, and Hong Kong, using Finance Pulse Research market snapshots dated 2026-05-15. Readers looking for the broader REIT dataset can start with the main Asian REITs data page. The article also connects the ranking to the underlying framework in the REIT methodology reference, because tied scores demand closer attention to how secondary metrics reshape the picture.
Methodology
This ranking uses Distribution Safety Score as the primary sorting field. Distribution Safety Score is a Finance Pulse Research derived metric on a 0-100 scale where higher indicates stronger payout coverage and lower apparent distribution stress. In this specific screen, every included REIT records a score of 25, so the ranking reflects a tied top line rather than a differentiated ladder.
Because the primary metric is uniform, this article evaluates the full table through supporting fields supplied in the dataset: current yield, five-year average yield, NAV premium or discount, years of continuous distributions, five-year distribution growth, country, and sub-sector. NAV premium or discount measures the percentage gap between market price and net asset value; positive values indicate trading above NAV, while negative values indicate trading below NAV. Aristocrat status flags whether the REIT qualifies under Finance Pulse Research payout-history criteria. Continuous distributions count the years with uninterrupted payouts.
The dataset references market and macro source families including Yahoo Finance, World Bank, FRED, and exchange-direct filings, as specified in the research framework on the methodology page. The snapshot date for REIT data is 2026-05-15, with fields fetched at 2026-05-15.
Included here are only the 20 REIT entries present in the supplied ranking table. Excluded markets, sectors, or issuers are not inferred beyond the dataset and are therefore not yet covered. A key limitation is visible immediately: when all names share the same safety score, the article cannot interpret rank distance from score distance. Another limitation concerns anomaly flags. Several NAV and distribution-growth values carry explicit anomaly annotations, which may reflect stale NAV data, illiquid trading, structural factors, one-time events, or base effects. Those flagged values are discussed with caution rather than treated at face value.
Main Ranking Table and Analysis
The table below lists all 20 entries in the ranking. Since every REIT posts the same safety score, the supporting metrics become the analytical engine for separating long payout records from high yields, premium valuations, and stressed distribution histories.
| Rank | Ticker | Company Name | Country | Sector | Safety Score | Current Yield | 5Y Avg Yield | NAV Premium/Discount | Continuous Distribution Years | 5Y Distribution Growth |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 3309.T | Sekisui House REIT | Japan | Residential | 25 | 6.62% | 3.905% | 26.27% | 12 | -9.539% |
| 2 | 5180.KL | CapitaLand Malaysia Trust | Malaysia | Retail | 25 | 7.68% | 6.33% | -34.1% | 16 | 16.334% |
| 3 | HMN.SI | CapitaLand Ascott Trust | Singapore | Hospitality | 25 | 6.89% | 6.036% | -24.66% | 19 | 7.345% |
| 4 | 8955.T | Japan Prime Realty Investment | Japan | Office | 25 | 4.37% | 3.925% | -63.75% | 0 | 2.021% |
| 5 | 8961.T | MORI TRUST Sogo REIT | Japan | Office | 25 | 4.97% | 4.562% | -39.02% | 21 | -0.3% |
| 6 | 5227.KL | IGB Commercial REIT | Malaysia | Office | 25 | 5.35% | 3.384% | 104.93% | 14 | 17.39% |
| 7 | M1GU.SI | Sabana Industrial REIT | Singapore | Industrial | 25 | 7.63% | 6.536% | -7.97% | 16 | -3.866% |
| 8 | OXMU.SI | Manulife US REIT | Singapore | Office | 25 | 4.24% | 21.963% | -68.0% | 7 | -47.974% |
| 9 | C38U.SI | CapitaLand Integrated Commercial Trust | Singapore | Retail | 25 | 6.85% | 4.369% | 5.56% | 19 | -3.312% |
| 10 | A17U.SI | CapitaLand Ascendas REIT | Singapore | Industrial | 25 | 7.59% | 5.591% | 10.02% | 22 | 12.875% |
| 11 | AJBU.SI | Keppel DC REIT | Singapore | Data Center | 25 | 4.52% | 4.141% | 33.49% | 12 | -14.254% |
| 12 | 0823.HK | Link REIT | Hong Kong | Retail | 25 | 6.3% | 6.954% | -31.91% | 0 | -3.054% |
| 13 | 5212.KL | Pavilion REIT | Malaysia | Retail | 25 | 7.84% | 4.243% | 34.38% | 15 | 22.451% |
| 14 | 1881.HK | Regal REIT | Hong Kong | Hospitality | 25 | 2.23% | 25.697% | -90.12% | 1 | -48.665% |
| 15 | 5106.KL | IGB REIT | Malaysia | Retail | 25 | 4.95% | 4.766% | 18.41% | 19 | -5.473% |
| 16 | K71U.SI | Keppel REIT | Singapore | Office | 25 | 6.0% | 6.77% | -31.43% | 19 | 5.055% |
| 17 | F34.SI | Wilmar International | Singapore | Hospitality | 25 | 3.68% | 4.516% | -15.21% | 20 | -9.094% |
| 18 | C2PU.SI | Parkway Life REIT | Singapore | Healthcare | 25 | 4.45% | 3.423% | 56.98% | 19 | -6.934% |
| 19 | P40U.SI | Starhill Global REIT | Singapore | Retail | 25 | 6.61% | 6.771% | -24.72% | 19 | -1.955% |
| 20 | 5120.KL | Amanahraya REIT | Malaysia | Diversified | 25 | 9.11% | 8.52% | -74.14% | 20 | 1.557% |
Beyond the headline tie, the yield spread is wide. Current yield ranges from 2.23% for Regal REIT to 9.11% for Amanahraya REIT, even though both sit on the same safety score of 25. That is the article’s central takeaway: this ranking is less a ladder of safer versus less safe names and more a screen of equally scored payers with very different market pricing, payout histories, and recent distribution trajectories.
A clear top-yield cluster forms above 7.5%. Amanahraya REIT posts 9.11%, Pavilion REIT records 7.84%, CapitaLand Malaysia Trust shows 7.68%, Sabana Industrial REIT comes in at 7.63%, and CapitaLand Ascendas REIT stands at 7.59%. Yet those higher yields do not map neatly onto weaker or stronger history. Among this cluster, payout streaks range from 15 years at Pavilion REIT to 22 years at CapitaLand Ascendas REIT. Distribution growth also splits sharply: Pavilion REIT shows 22.451% over five years, while Sabana Industrial REIT records -3.866%.
A different pattern emerges when valuation enters the frame. Several REITs with the same safety score trade at notable premiums to NAV, including IGB Commercial REIT at 104.93%, Parkway Life REIT at 56.98%, Pavilion REIT at 34.38%, Keppel DC REIT at 33.49%, Sekisui House REIT at 26.27%, IGB REIT at 18.41%, CapitaLand Ascendas REIT at 10.02%, and CapitaLand Integrated Commercial Trust at 5.56%. By contrast, deep discounts appear in Amanahraya REIT at -74.14%, Manulife US REIT at -68.0%, Japan Prime Realty Investment at -63.75%, MORI TRUST Sogo REIT at -39.02%, CapitaLand Malaysia Trust at -34.1%, Link REIT at -31.91%, and Keppel REIT at -31.43%.
That gap matters because several NAV readings carry anomaly flags. Japan Prime Realty Investment is marked with an extreme NAV discount of -63.8%, which the dataset notes may reflect stale NAV data, illiquid market conditions, or structural factors. IGB Commercial REIT carries an extreme NAV premium of 104.9% under the same caveat. Manulife US REIT combines an extreme NAV discount of -68.0% with an extreme five-year distribution growth reading of -48.0%, explicitly flagged as potentially influenced by one-time events or base effects. Regal REIT has the most severe discount at -90.12% and a five-year distribution growth of -48.665%, both tagged as anomalies. Parkway Life REIT also has a flagged NAV premium of 57.0%. In other words, the lowest and highest valuation readings in the table require more caution than a plain ranking number suggests.
Zooming into payout durability reveals another split. CapitaLand Ascendas REIT leads the list on continuous distributions at 22 years, followed by MORI TRUST Sogo REIT at 21 years, then Amanahraya REIT and Wilmar International at 20 years. At the other end, Japan Prime Realty Investment and Link REIT both show 0 years, while Regal REIT shows 1 year and Manulife US REIT 7 years. The top three by rank therefore are not the top three by payout streak, and the bottom names by streak are not separated by safety score at all. Data shows that once the score ties, the real differentiation comes from how each REIT combines history, yield, and valuation.
Country Distribution
Stepping back to the aggregate level, Singapore dominates the ranking by count, while Malaysia leads on average yield. The country breakdown below uses the supplied country distribution metrics.
| Country | Count | Avg Yield | Avg NAV Discount | Aristocrat Count |
|---|---|---|---|---|
| Singapore | 10 | 5.846% | -6.594% | 0 |
| Malaysia | 5 | 6.986% | 9.896% | 3 |
| Japan | 3 | 5.32% | -25.5% | 0 |
| Hong Kong | 2 | 4.265% | -61.015% | 0 |
The picture changes at the country level because the 20 entries are concentrated in only four markets. Singapore contributes 10 names, exactly half the table. Malaysia supplies 5, Japan 3, and Hong Kong 2. That concentration suggests the screen currently captures the deepest listed REIT representation from Singapore and Malaysia, at least within this dataset snapshot. Readers tracking broader regional coverage can compare this story with the main REIT universe page and the scoring notes in the research methodology.
Malaysia stands out on two metrics at once: a 6.986% average yield and 3 aristocrats. Aristocrat status is a binary payout-history designation used by Finance Pulse Research to flag names meeting its dividend durability criteria. In this dataset, Malaysia is the only country with any aristocrat entries, while Singapore, Japan, and Hong Kong each show 0. That helps explain why Malaysia appears unusually dense with mature payout profiles despite having only 5 names in the ranking.
Japan presents a different shape. Its 3 entries average 5.32% yield and trade at an average NAV discount of -25.5%, which places the group at a deeper discount than Singapore but far less extreme than Hong Kong. Hong Kong, with only 2 names, shows the lowest average yield at 4.265% and the deepest average NAV discount at -61.015%. That combination indicates a market segment where low current income and heavy valuation discounts can coexist inside the same safety-score bucket.
Switching from breadth to valuation, Singapore looks comparatively balanced. Its average yield of 5.846% sits below Malaysia, yet its average NAV discount of -6.594% is much closer to par than Japan or Hong Kong. The country split therefore reinforces the article’s main theme: equal safety scores do not erase major differences in pricing, yield levels, or payout-history classifications across markets.
Sector Analysis
Sector data adds another layer, because the tied safety score spans eight sub-sectors with very different income and payout-streak profiles.
| Sector | Count | Avg Yield | Avg Streak |
|---|---|---|---|
| Retail | 6 | 6.705% | 14.7 |
| Office | 5 | 4.986% | 12.2 |
| Hospitality | 3 | 4.267% | 13.3 |
| Industrial | 2 | 7.61% | 19.0 |
| Residential | 1 | 6.62% | 12.0 |
| Data Center | 1 | 4.52% | 12.0 |
| Healthcare | 1 | 4.45% | 19.0 |
| Diversified | 1 | 9.11% | 20.0 |
Cross-referencing with sector structure reveals that Retail is the largest group with 6 entries and an average yield of 6.705%. Office follows with 5 entries, but its average yield is materially lower at 4.986%, alongside the shortest average payout streak among the major sectors at 12.2 years. Hospitality is smaller at 3 entries and records an average yield of 4.267%, close to Office rather than Retail.
Industrial is the notable income leader among multi-name sectors. With 2 entries, it posts a 7.61% average yield and a 19.0-year average streak. That pairing stands out because it combines one of the highest sector yields with one of the longest average payout histories. Retail, by comparison, delivers broad representation and a strong 6.705% average yield, but its average streak of 14.7 years trails Industrial.
Single-entry sectors also matter because they mark the extremes. Diversified, represented only by Amanahraya REIT, shows 9.11% average yield and a 20.0-year streak. Healthcare, represented by Parkway Life REIT, carries a 4.45% average yield with a 19.0-year streak. Data Center, represented by Keppel DC REIT, stands at 4.52% yield and 12.0 years. Residential, through Sekisui House REIT, shows 6.62% yield and 12.0 years.
Viewed through a sector lens, the ranking does not favor a single property type on safety score because every segment sits at 25. Instead, it highlights where income and durability cluster together. Industrial and Diversified hold the highest average yields in the sector table, while Office and Hospitality occupy the lower-yield side. Retail supplies the broadest field and therefore the clearest internal diversity. For readers exploring property-type screens, the REIT data hub and the methodology notes provide the broader classification framework behind these sector labels.
Cross-Metric Observations
That pattern breaks down when yield is compared directly with recent distribution change. High current yield does not automatically align with positive five-year distribution growth. Amanahraya REIT combines a 9.11% current yield with 1.557% five-year distribution growth, while Pavilion REIT pairs 7.84% yield with 22.451% growth. Sabana Industrial REIT, however, shows 7.63% yield with -3.866% growth, and Sekisui House REIT records 6.62% yield with -9.539% growth. The same safety score therefore contains both expansion and contraction in recent payout trends.
Another divergence appears between payout streaks and market valuation. CapitaLand Ascendas REIT carries the longest continuous distribution record at 22 years and trades at a 10.02% NAV premium, whereas MORI TRUST Sogo REIT has 21 years but trades at a -39.02% NAV discount. Wilmar International shows 20 years and a -15.21% discount, while Parkway Life REIT has 19 years and a 56.98% premium. Long records do not map to a single valuation regime.
The data shifts again when current yield is measured against five-year average yield. Regal REIT’s current yield of 2.23% sits far below its 25.697% five-year average yield, while Manulife US REIT’s 4.24% current yield is far below its 21.963% five-year average. Both entries also carry anomaly flags tied to extreme five-year distribution declines and deep NAV discounts. At the opposite end, Pavilion REIT’s 7.84% current yield is well above its 4.243% five-year average, and IGB Commercial REIT’s 5.35% exceeds its 3.384% average. These contrasts indicate that the same safety-score cohort contains names priced for very different distribution histories and market narratives.
Data Sources and Methodology
Finance Pulse Research uses a REIT snapshot dated 2026-05-15, with the real-yield snapshot date also recorded as 2026-05-15 and the fetch timestamp at 2026-05-15. This article is limited to the 20 entries present in the supplied ranking table and does not extend beyond the listed markets of Singapore, Malaysia, Japan, and Hong Kong. Other Asian countries or sectors are not yet covered in this dataset.
Several fields require careful handling. Distribution Safety Score is identical at 25 across all 20 names, so differences in ordinal rank do not imply differences in the primary score. NAV premium and discount readings for Japan Prime Realty Investment, IGB Commercial REIT, Manulife US REIT, Regal REIT, Parkway Life REIT, and Amanahraya REIT include explicit anomaly context in the source data. In addition, Manulife US REIT and Regal REIT carry anomaly notes on five-year distribution growth. Those flags may reflect stale NAV estimates, illiquid markets, structural features, one-time events, or base effects.
Readers seeking the calculation framework can review the full REIT methodology page. Broader market coverage, listing pages, and related screens are available through the main REIT research section.
This analysis is based on publicly available market data and derived metrics calculated by Finance Pulse Research. Finance Pulse Research is a data analytics publisher. Content is for informational and educational purposes only. Nothing herein constitutes investment advice, a recommendation to buy or sell any security, or an offer of any kind. Data as of 2026-05-15.
Related Analyses
Readers can continue with the main Asian REITs database, which brings together the broader listed universe behind this screen.
The REIT methodology guide explains how Finance Pulse Research defines safety score, NAV premium or discount, aristocrat status, and related payout metrics.
For readers comparing this tied-score screen with other property-type or market views, the central REIT coverage page provides the entry point into adjacent rankings and dataset pages.