CITIC Securities: Suggesting to repeatedly play games with undervalued opportunities of assets with stable operation and strong expectations for expansion

The research report from Citic Securities pointed out that in the second quarter of 2026, the performance of various types of assets of public offering REITs continued to differentiate. Overall, consumer infrastructure and affordable housing sectors performed well, data center REITs and most utility REITs maintained stable operations, industrial park REITs and warehousing logistics REITs still faced pressures on both quantity and price, while highway REITs and energy REITs showed significant differentiation. Currently, four index funds may be in the process of establishing positions, providing potential funding support for the market. Combined with the slowing pace of new offerings in the primary market, the market supply and demand situation is showing signs of marginal improvement. It is recommended to repeatedly play the opportunities of assets with stable operations and strong expectations for fundraising, while also focusing on the pace of index fund establishment and adjustment, which may have a timely catalytic impact on the market.