SINGAPORE (Feb 11): Manulife US Real Estate Investment Trust (Manulife US REIT) has announced a 7.7% increase in distribution per unit (DPU) to 1.53 US cents (2.07 cents) for the 4Q18 ended December, compared to 1.42 US cents a year ago.
The rise in 4Q DPU was largely due to income contribution from the properties acquired in 2018 – Penn in Washington DC and Phipps in Atlanta – and full quarter income contribution from Exchange in New Jersey, which was acquired on Oct 31, 2017.
This bring full-year DPU to 5.57 US cents for FY18, 3.5% lower than DPU of 5.77 US cents a year ago.
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