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OUE C-REIT's 1Q DPU rises 47.5% to 0.9 cent post OUE Downtown Office acquisition

Michelle Zhu
Michelle Zhu5/9/2019 06:16 PM GMT+08  • 2 min read
OUE C-REIT's 1Q DPU rises 47.5% to 0.9 cent post OUE Downtown Office acquisition
SINGAPORE (May 9): The manager of OUE Commercial REIT (OUE C-REIT) has declared a 1Q19 distribution per unit (DPU) of 0.9 cent, rising 47.5% from its 1Q18 restated DPU of 0.61 cent after booking a full quarter’s contribution from OUE Downtown Office, wh
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SINGAPORE (May 9): The manager of OUE Commercial REIT (OUE C-REIT) has declared a 1Q19 distribution per unit (DPU) of 0.9 cent, rising 47.5% from its 1Q18 restated DPU of 0.61 cent after booking a full quarter’s contribution from OUE Downtown Office, which was acquired in Nov 2018.

The latest quarter’s DPU translates into a distribution yield of 6.9% based on the REIT’s closing price of 52 cents as at 29 March, the last trading day of 1Q.

Revenue and NPI grew 25.5% and 23.5% to $55.3 million and $43.6 million, respectively, upon registering a full quarter’s contribution from OUE Downtown Office. Revenue and NPI growth for the quarter were further bolstered by one-off income from OUE Bayfront and One Raffles Place.

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