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Cambridge Industrial Trust’s 1Q DPU falls 9.7% to 1 cent

Michelle Zhu
Michelle Zhu4/25/2017 07:46 AM GMT+08  • 2 min read
Cambridge Industrial Trust’s 1Q DPU falls 9.7% to 1 cent
SINGAPORE (April 25): The manager of Cambridge Industrial Trust (CIT) has declared a 1Q17 distribution per unit (DPU) of 1.004 cent, a 9.7% decrease from 1.112 cent in the previous year.
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SINGAPORE (April 25): The manager of Cambridge Industrial Trust (CIT) has declared a 1Q17 distribution per unit (DPU) of 1.004 cent, a 9.7% decrease from 1.112 cent in the previous year.

Gross revenue for the quarter ended March decreased 2.2% to $27.7 million as a result from the trust’s transition phase of its properties moving from single tenanted to multi-tenanted, while property operating expenses also grew 17.2% to $8 million for the same reasons.

Net property income (NPI) fell 8.4% to $19.7 million, due mainly to the impact of several master leased properties that were converted into multi-tenancy properties in FY16 as well as the impact from recent divestments.

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