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中信建投:REITs市場關注政策及利率共振,首推消費等抗週期業態

中信建投發佈REITs2025年投資策略展望稱,常態化發行將繼續支撐市場提質擴容,2025年底C-REITs市場規模有望達85只、2450億元,在數量上僅次於美國;二級市場方面預計年末延續震盪橫盤,明年走勢需關注政策出台節奏和利率走勢;增量政策仍有可為,監管中長期有望從專項立法、引入增量資金、加強主動管理等方面推動REITs市場高質量發展。當前REITs投資,一級市場估值審慎,對於二級溢價較高且具備抗週期屬性的業態,如市政環保、保租、能源、廠房等值得重點關注;二級市場首推消費業態,保租房及廠房可擇機逢低佈局,並建議優選板塊內高股息、強原權標的。

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