Alpha Integrated REIT: From Activist Battleground to Yield Powerhouse—Is $0.50 the New Floor?

Kenny_Loh
02-22 13:50

$Alpha Integrated REIT(M1GU.SI)$

‌The chart depicts a classic bullish trend reversal followed by a strong momentum phase.

1. Trend and Moving Averages

  • Golden Cross: In late 2024, the 50-day moving average (blue) crossed above the 200-day moving average (green), signaling a long-term trend shift from bearish to bullish.

  • Price Action: The price is currently trading at $0.490, well above its 200-day MA ($0.438) and slightly above its 20-day ($0.484) and 50-day ($0.480) MAs. This indicates that both short-term and long-term momentum are firmly in favor of the bulls.

  • Higher Highs: Since the bottom in mid-2024 (approx. $0.320$), the REIT has consistently formed higher highs and higher lows, a textbook definition of an uptrend.

2. Support and Resistance

  • Immediate Resistance: The psychological and technical resistance sits at $0.500. A breakout above this level could trigger a new leg of expansion. Immediate Support: Found at the $0.480 level (confluence of the 20-day and 50-day MAs).

  • Strong Support: The $0.440 - $0.450 zone, which acted as previous resistance in late 2025, now serves as a major "floor."

3. Volume and Volatility

  • The recent price consolidation near the highs (Dec 2025 - Feb 2026) shows lower volatility compared to the initial rally, suggesting the market is "digesting" gains before the next move.

REIT Overview: Alpha Integrated REIT Alpha Integrated REIT (formerly known as Sabana Industrial REIT) is a Singapore-listed industrial REIT. It has recently undergone a historic transformation, becoming the first REIT in Singapore to adopt an internal management model.

Portfolio & Performance (as of Feb 2026)

  • Assets: Diversified portfolio of 18 industrial properties (High-Tech, Logistics, Chemical Warehouse, and General Industrial). Its "crown jewel" is New Tech Park at Lorong Chuan.

  • Internalisation: The shift to an internal manager (completed in late 2025) has eliminated external management fees, directly boosting the Distribution per Unit (DPU).

Financial Health:

  • DPU Growth: FY2025 DPU jumped 23.4% year-on-year to 3.53 cents. Yield: At $0.490, it offers a trailing yield of approximately 7.2%. Gearing: Healthy at 35.8%, well below the regulatory limit, providing headroom for future acquisitions.

  • Occupancy: Improved significantly to 90.3% by the end of 2025.

  • Key Event: There is currently an ongoing mandatory conditional cash offer by Mindarie Investment Pte. Ltd. at $0.490 per unit, which has recently turned unconditional. This is likely why the price is currently "pegged" near the $0.490 mark.

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