SINGAPORE (Apr 20): The manager of ESR-REIT, formerly known as Cambridge Industrial Trust, has declared an earnings per unit (EPU) of 0.847 cent for 1Q18, which is 15.6% lower than the 1Q EPU of 1.004 cents a year ago impacted mainly by the new units issued under its recent preferential offering and the distribution reinvestment plan units issued since 1Q17.
In March, the REIT manager launched a preferential offering of about 262.8 million new units at 54 cents each to raise $141.9 million to fund an acquisition and repay debt.
Assuming the units under the preferential offering were only entitled to distributable income from Mar 28 to 31, adjusted DPU for 1Q18 was 1.008 cents or 0.4% higher than a year ago.
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