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Ascott REIT declares lower 1Q DPU of 1.51 cents

PC Lee
PC Lee4/21/2017 07:20 AM GMT+08  • 2 min read
Ascott REIT declares lower 1Q DPU of 1.51 cents
SINGAPORE (April 21): The manager of Ascott Residence Trust (Ascott REIT) is declaring a DPU of 1.51 cents for 1Q17, 14% lower than the DPU of 1.75 cents a year ago.
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SINGAPORE (April 21): The manager of Ascott Residence Trust (Ascott REIT) is declaring a DPU of 1.51 cents for 1Q17, 14% lower than the DPU of 1.75 cents a year ago.

For a same-store comparison, DPU for 1Q17 would be 1.64 cents if it was adjusted to exclude Ascott REIT’s equity placement in March 2016 to fund the acquisition of Sheraton Tribeca New York Hotel as well as contribution from the hotel. DPU for 1Q16 would be 1.57 cents if it was adjusted to exclude a one-off net realised exchange gain and the equity placement. This represents a 4% increase in DPU from 1.57 cents in 1Q 16 to 1.64 cents in 1Q 17.

For 1Q17, revenue grew 5% to $111.3 million, mainly contributed by its acquisition of Sheraton Tribeca New York Hotel in 2016. Revenue per available unit (RevPAU) notched up 2% to $128, due to higher average daily rate from Sheraton Tribeca New York Hotel.

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