As of 2025, I've got over 10 years of researching companies. In total, throughout my investing life, I estimate that I researched (in depth) well over 1000 companies, from commodities like oil, natural gas, gold and copper to tech like Google or Nokia and many emerging market stocks, which I believe could help me provide useful content for readers. After writing my own blog for about 3 years, I decided to switch to a value investing-focused YouTube channel, where I researched hundreds of different companies ...

As of 2025, I've got over 10 years of researching companies. In total, throughout my investing life, I estimate that I researched (in depth) well over 1000 companies, from commodities like oil, natural gas, gold and copper to tech like Google or Nokia and many emerging market stocks, which I believe could help me provide useful content for readers. After writing my own blog for about 3 years, I decided to switch to a value investing-focused YouTube channel, where I researched hundreds of different companies ...

报告行业投资评级 - 增持（维持）[5] 报告核心观点 - 看好2025年低利率环境下REITs市场的配置机会，但考虑到REITs已走过2024年至今的估值修复，当下投资策略主要有三条主线：1）关注政策主题下的弹性及优质低估值项目的修复能力；2）弱周期资产红利配置属性已被市场认可，建议结合资产韧性、二级市场价格与P/NAV择时布局；3）关注扩募资产储备充足、项目优质的原始权益人其后续龙头效益[4] REITs指数表现 - 本周（10月17日至10月24日）中证REITs全收益指数上涨0.16%，收于1045.1点；中证REITs（收盘）指数上涨0.16%，收于816点[1][10] - 本周恒生指数涨幅最高（上涨3.62%），REITs全收益指数在可比指数中排行第7[1][10] - 本年中证REITs全收益指数涨幅为7.98%，中证REITs（收盘）指数涨幅为3.35%[1][10] - 本年恒生指数涨幅最高（上涨30.41%），REITs全收益指数在可比指数中排行第5[1][10] REITs二级市场表现 - 本周C-REITs二级市场呈现震荡行情，46支上涨、28支下跌，周均涨幅为0.28%[1][12] - 市政水利板块（上涨2.33%）和数据中心板块（上涨1.3%）表现较优，保障房板块（下跌0.14%）和产业园区板块（下跌0.12%）小幅回调[1][12] - 工银蒙能清洁能源REIT和中航易商仓储物流REIT涨幅靠前[1][12] - 截至10月24日，已上市REITs总市值约2176.8亿元，平均单只REIT市值约29亿元[1][12] - 本周日均成交量168万股，日均换手率0.6%[2][17] - 数据中心板块交易最活跃，换手率达1%；日均换手率位列前三的REITs分别是华泰紫金宝湾物流仓储REIT（1.7%）、华泰江苏交控REIT（1.4%）、招商基金蛇口租赁住房REIT（1.4%）[2][17] REITs估值表现 - 本周已上市REITs中债IRR持续分化，位列前三的分别是华夏中国交建REIT（9.9%）、平安广州广河REIT（9.4%）、中金湖北科投光谷REIT（8.1%）[3][18] - P/NAV位于0.7-1.8区间，位列前三的分别是嘉实中国电建清洁能源REIT（1.8）、易方达华威农贸市场REIT（1.8）、嘉实物美消费REIT（1.8）；P/NAV较低的有华夏中国交建REIT（0.7）[3][18]

证券研究报告 【公募REITs】温故知新说扩募 （策略篇） 证券分析师 刘璐 投资咨询资格编号：S1060519060001 陈蔚宁 投资咨询资格编号：S1060524070001 2025年10月26日 请务必阅读正文后免责条款 核心观点 参与扩募可通过一级认购、二级市场交易两种途径。 一级认购适合配置型投资者，能够配置上量、且限售期短于IPO项目，但能否获利与认购时点有关。原始权益人是扩募的重要参 与方，根据历史扩募案例，认购比例在20%-51%不等；原本不是存量投资者也有机会参与一级认购。根据历史扩募案例，扩募认 购价格约为定价基准的90%-100%。扩募份额估值与发售时点、资产质量有关。相较于当前的IPO项目，扩募项目的一二级价差空 间较小，上市首日平均涨幅仅1%，再考虑6个月以上的限售期，一级认购收益会较大程度上受到市场整体走势的影响，打新策略 效果一般。 二级市场交易分为基于分红的交易、事件交易两种。基于分红：扩募方案出炉后，可根据分派率差、扩募折扣率、扩募市值占 比计算分红变化幅度，并据此计算REITs价格理论涨跌幅。对于存量投资者，是否参与扩募不会影响后续分红的情况，若分红增 厚则继续持有，若 ...

Join iREIT on Alpha today to get the most in-depth research that includes REITs, mREITs, Preferreds, BDCs, MLPs, ETFs, and other income alternatives. 438 testimonials and most are 5 stars. Nothing to lose with our FREE 2-week trial .A few days ago, I wrote an article titled "How I’m Investing In The Weirdest Market I’ve Ever Seen." Although "weird" isn’t a professional way of describing anything, let alone something as serious as the stock market, I think it’s the bestAnalyst’s Disclosure:I/we have a benefi ...

Since I first covered Crown Castle (NYSE: CCI ) and looked into their divestiture of small cells and fiber, CEO change, and dividend cut in order to refocus on its core tower business, the stock fell quiteAs of 2025, I've got over 10 years of researching companies. In total, throughout my investing life, I estimate that I researched (in depth) well over 1000 companies, from commodities like oil, natural gas, gold and copper to tech like Google or Nokia and many emerging market stocks, which I believe could ...

行业投资评级 - 报告未对行业给出明确的投资评级 [2] 核心观点 - 近期经济稳定运行的总基调没有变，债券收益率低位区间震荡，长期看REITs具备较强配置属性 [9] - 建议投资者关注板块轮动及扩募带来的投资机会 [9] - 此外关注宏观环境、政策环境、基础设施资产运营基本面改善等带来的机会 [9] 行业基本情况 - 行业上市公司数为75家 [2] - 行业总市值为2125.35亿元，行业流通市值为1089.48亿元 [2] 本周行情回顾 - 本周REITs指数下跌0.68%，而沪深300指数累计上涨2.04% [5][19] - 上市以来REITs与十年期国债、一年期国债、中证转债的相关性分别为0.15、-0.03、0.68，与沪深300、中证500的相关性分别为0.36、0.42 [5][21] 主要事件梳理 - 华夏安博仓储REIT拟于10月30日询价，询价区间为5.103元/份-6.235元/份，询价区间上限溢价率为9.99% [7][12][13] - 华泰宝湾物流等3单REITs发布份额解除限售提示性公告 [7][12] - 华泰江苏交控等5单高速REITs发布2025年9月运营数据 [7][12] - 华夏和达高科REIT公布第3季度经营情况的临时公告 [7][12] - 招商基金蛇口租赁住房REIT计划于11月6日举行下半年度投资者开放日活动 [7][12] 本周市场表现 - 本周20支REITs上涨，2支持平，53支下跌，整体下跌0.68% [23] - 银华绍兴水利涨幅最大为1.79%，招商蛇口保障房跌幅最大为6.87% [23] REITs与对应股票板块表现 - REITs上市以来仓储物流REITs指数与对应板块相关性较强(>0.8) [26] - 仓储物流、消费、市政环保、产业园区、清洁能源、高速公路、保租房、数据中心REITs指数与对应股票板块相关性系数分别为0.78、0.68、0.24、0.06、0.06、0.05、0.02、0.00 [26] - 近一个月消费、仓储物流、高速公路、保租房、数据中心、市政环保、产业园区、清洁能源REITs指数与对应股票板块相关性系数分别为0.79、0.72、0.34、-0.11、-0.35、-0.48、-0.79、-0.80 [26] 市场交易情况 - 本周周内交易金额为24.9亿元，环比增长38.9%，日均换手率为0.5%，环比增加0.1个百分点 [8][43] - 分板块看，交易金额增幅最大的是仓储物流板块（2.7亿元，+50.8%）和清洁能源板块（3.6亿元，+47.6%） [8][43] REITs估值情况 - 本周中债估值收益率在-0.81%到9.93%之间，其中估值收益率较高的有华夏中国交建(9.93%)、平安广州广河(9.35%)，估值收益率较低的有平安宁波高投(-0.81%)、工银蒙能能源(-0.54%) [45] - P/NAV方面，整体在0.71到1.80之间，其中P/NAV较高的有嘉实中国电建(1.80)、易方达华威(1.77)，P/NAV较低的有华夏中国交建(0.71)、中金科投光谷(0.80) [45] 项目审批进展 - 根据交易所公开信息，目前有21只REITs（含扩募）处于发行阶段 [47] - 包括4单产业园项目、3单能源项目、4单消费类项目、3单仓储物流项目、4单保租房项目、2单高速公路项目、1单公用事业项目 [47]

Our approach has earned us 500+ five-star reviews from satisfied members who are already seeing the benefits. Don’t miss out—join now and start maximizing your returns!We invest thousands of hours and over $100,000 annually into researching the most profitable investment opportunities—all to bring you real estate strategies at just a fraction of the cost.The general idea is compelling. Use the bank’s money to buy a property and then use the tenant’s rental income to reimburse the bank. If you structure thin ...

Meta description: Crombie REIT (TSX:CRR.UN) is a Canadian grocery‑anchored real estate trust delivering defensive income through Sobeys‑anchored retail and a disciplined mixed‑use development pipeline. Crombie Real Estate Investment Trust occupies a distinct niche in Canada’s REIT landscape: a largely grocery‑anchored retail portfolio whose cash flows are underpinned by a long-standing strategic relationship with Empire Company Limited and its Sobeys banners. The trust’s operating model is built around pred ...

Innovative Industrial Properties (NYSE: IIPR ) is the only NYSE-listed cannabis REIT, with over 100 industrial properties across the US and 93% of their leases expiring after 2034. Due to dividend cut risks, major tenant defaults, and otherAs of 2025, I've got over 10 years of researching companies. In total, throughout my investing life, I estimate that I researched (in depth) well over 1000 companies, from commodities like oil, natural gas, gold and copper to tech like Google or Nokia and many emerging ma ...