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Manulife US REIT reports 1H17 DPU of 3.23 cents, 8% higher than forecast

PC Lee
PC Lee8/8/2017 8:20 AM GMT+08  • 2 min read
Manulife US REIT reports 1H17 DPU of 3.23 cents, 8% higher than forecast
SINGAPORE (Aug 8): The manager of Manulife US REIT, the first pure-play US office REIT listed in Asia, today announced a 2Q17 DPU of 1.58 US cents, exceeding IPO prospectus projection of 1.47 US cents by 7.5%.
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SINGAPORE (Aug 8): The manager of Manulife US REIT, the first pure-play US office REIT listed in Asia, today announced a 2Q17 DPU of 1.58 US cents, exceeding IPO prospectus projection of 1.47 US cents by 7.5%.

This brings DPU of 1H17 to 3.23 US cents versus the projected 2.99 US cents.

For 2Q17, the REIT recorded net property income of US$12.8 million ($17.4 million) which was 3.7% above projection, while gross revenue was 0.3% below projection due to lower recoveries income but partially offset by higher rental and other income mainly arising from rental escalations and higher car park income.

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