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Manulife US REIT declares 22.8% higher 1Q DPU of 1.51 US cents on enlarged portfolio

PC Lee
PC Lee4/25/2019 08:14 AM GMT+08  • 3 min read
Manulife US REIT declares 22.8% higher 1Q DPU of 1.51 US cents on enlarged portfolio
SINGAPORE (Apr 25): The manager of Manulife US Real Estate Investment Trust (Manulife US REIT) has declared a DPU of 1.51 US cents for the 1Q19 ended March, 22.8% higher than the 1.23 US cents DPU declared the same quarter a year ago.
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SINGAPORE (Apr 25): The manager of Manulife US Real Estate Investment Trust (Manulife US REIT) has declared a DPU of 1.51 US cents for the 1Q19 ended March, 22.8% higher than the 1.23 US cents DPU declared the same quarter a year ago.

Manulife US Real Estate Management says there was a drag on 1Q18 DPU for the enlarged unit base resulting from the preferential offering units issued on June 20 2018 to partially fund Penn and Phipps acquisitions while there was no income contribution from Penn and Phipps properties in 1Q18.

1Q19 gross revenue of US$40 million ($54.5 million) was 28.5% higher than in 1Q18 largely due to revenue contribution from Penn and Phipps properties acquired in June 2018.

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