Manulife US REIT 1Q DPU beats projections by 8.6% at 1.65 US cents

SINGAPORE (May 2): The manager of Manulife US REIT has announced a distribution per unit (DPU) of 1.65 US cents (2.3 cents) for the first quarter ended March 31, exceeding its projected DPU of 1.52 US cents by 8.6%.

Gross revenue came in at US$19.8 million, 1.3% below the projected US$20 million due to lower recoveries income, which is only recognised when applicable recoverable property operating expenses are incurred.

The REIT registered net property income of US$12.8 million, which was ahead of projections by 2.7% largely due to higher rental and other income as a result of rental escalations and higher car park income respectively.

---

Related Stories

• Yanlord reports lower revenue but higher earnings on better margins
• CLI 1HFY2022 earnings down 38% y-o-y on lower portfolio gains
• DBS keeps 'hold' call on APAC Realty with 'healthy' 1HFY2022 but sees slower 2HFY2022

---