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Ascendas REIT reports lower 1Q DPU of 4.002 cents on absence of one-off

PC Lee
PC Lee7/30/2018 09:11 PM GMT+08  • 2 min read
Ascendas REIT reports lower 1Q DPU of 4.002 cents on absence of one-off
SINGAPORE (July 30): The manager of Ascendas Real Estate Investment Trust (Ascendas REIT) reported 1Q18 DPU of 4.002 cents, 1.2% lower than the DPU of 4.049 cents declared a year ago.
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SINGAPORE (July 30): The manager of Ascendas Real Estate Investment Trust (Ascendas REIT) reported 1Q18 DPU of 4.002 cents, 1.2% lower than the DPU of 4.049 cents declared a year ago.

1Q18 net property income (NPI) rose by 3.8% y-o-y to $159.2 million mainly attributable to contributions from newly acquired properties, 100 Wickham Street and 108 Wickham Street in Brisbane, Australia, and a redeveloped property, 50 Kallang Avenue in Singapore.

Lower property operating expenses also contributed to the higher NPI as property tax expense were reduced due to retrospective downward revisions in the annual value of certain properties.

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