SINGAPORE (Jan 13): Analysts are keeping their positive stance on SPH REIT following the REIT’s 1Q20 results announcement on Jan 10.
The REIT recorded a DPU of 1.38 cents, 3.0% higher than 1.34 cents in 1Q19. This came on the back of an 11.8% y-o-y increase in gross revenue to $60.1 million and a 12.4% y-o-y increase in net property income to $47.0 million.
SPH REIT’s portfolio maintained a high occupancy rate of 99.3%. In Singapore, its assets registered an occupancy rate of 99.4% with a positive rental reversion of 10.9% for 1Q20. Occupancy at Figtree Grove Shopping Centre in Australia also remained strong at 99.2%.
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