distribution per unit (DPU)

Frasers Centrepoint Trust poised for re-rating as it enters next phase of growth

SINGAPORE (Sept 3): Units in Frasers Centrepoint Trust (FCT) have already surged more than 26% so far this year. But market watchers remain bullish on the retail REIT as it stands on the cusp of a re-rating.

For the latest 3Q19 ended June, FCT saw its income available for distribution rise 12.4% to $31.8 million, even as net property income dipped 1.1% to $34.6 million on the back of higher property expenses.

The higher expense arose from the absence of property tax refund which occurred in the same period a year ago.

Manulife US REIT still a top pick amid DPU visibility, favourable US office market outlook

SINGAPORE (Aug 20): Market watchers continue to favour Manulife US REIT (MUST) for its high distribution per unit (DPU) visibility on the back of stable income growth and low leasing risks.

The US office REIT saw a fundamentally strong 2Q19, with robust performance across a number of key financial metrics.

For a start, a DPU of 1.53 US cents was declared, some 17.7% higher than the 1.30 US cents DPU declared for the same quarter the previous year.

Frasers Centrepoint Trust 3Q19 DPU falls 1.7% to 3 cents

SINGAPORE (July 23): The manager of Frasers Centrepoint Trust (FCT) has declared a distribution per unit (DPU) of 3.00 cents for 3Q ended June 30, down 1.7% from the same period last year.

Income available for distribution rose 12.4% to $31.8 million but DPU fell due mainly to an enlarged unit base following the completion of the private placement in May and preferential offering in June to 1.1 billion from 926 million last year.

iREIT Global reports 2.7% lower 1Q DPU of 1.42 cents on higher expenses, forex changes

SINGAPORE (May 16): The manager of iREIT Global has declared a 1Q19 distribution per unit (DPU) 1.42 cents, declining 2.7% from 1.46 cents a year ago due to higher property operating expenses and a weaker SGD/EUR exchange rate.

This represents an annualised distribution yield of 7.6% based on the REIT’s closing price of 74.5 cents on the last trading day of 1Q.  

In euro terms, DPU for 1Q fell 1.1% to 0.89 euro cent from 0.90 euro cent a year ago due to higher property operating expenses.

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, 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.

OUE Hospitality Trust's 1Q DPU down 6.3% to 1.18 cents on lower revenue

SINGAPORE (May 2): The manager of  OUE Hospitality Trust (OUE HT) has declared a 1Q19 distribution per unit (DPU) of 1.18 cents, declining 6.3% from its DPU of 1.26 cents a year ago due to lower income from the hospitality segment as well as higher expenses.

Revenue fell 3% on-year to $31.7 million from $32.7 million previously due to lower contributions from the hospitality segment, i.e. the master lease income from the Mandarin Orchard Singapore (MOS) and Crowne Plaza Changi Airport (CPCA) hotels.

Frasers Logistics Trust's 2Q DPU falls 2.8% to 1.76 cents on forex changes

SINGAPORE (April 27): The manager of Frasers Logistics & Industrial Trust (FLT) has reported a 2Q distribution per unit (DPU) of 1.76 cents, down 2.8% on-year from 1.81 cents in 2Q18 due to the softening of the AUD and EUR against the SGD.

In AUD terms, DPU grew 7.1% to 1.82 Australian cents in 2Q19 from 1.70 Australian cents on higher revenue and adjusted net property income (NPI) after taking into account acquisitions from FY18.

Sabana REIT posts 14.8% lower DPU of 0.75 cent amid market challenges, portfolio optimisation

SINGAPORE (April 22): The manager of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) has announced a 1Q19 DPU of 0.75 cent, down 14.8% y-o-y from 0.88 cents a year ago due to lower revenue and net property income (NPI).

This was largely attributed by the manager to a challenging market and portfolio optimisation, which saw the REIT divest non-performing and mature properties in recent quarters.

Why Maybank KE prefers Frasers Centrepoint Trust over SPH REIT

SINGAPORE (Apr 8): Maybank Kim Eng is reiterating its “hold” call on SPH REIT with an unchanged target price of $1.05 on expectations of limited retail sales growth.

Instead, the research house prefers Frasers Centrepoint Trust (FCT), rated “buy” with a $2.60 target price, for its suburban-mall footprint and a 6% three-year DPU CAGR.

This comes post the release of SPH REIT’s 2Q19 results last Friday, which came in line with Maybank’s estimates with 0.7% y-o-y growth in quarterly DPU to $1.41 cents.

Ascendas REIT set to thrive on overseas initiatives & new Grab project, says Maybank

SINGAPORE (Jan 31): Maybank Kim Eng continues to rate Ascendas REIT (A-REIT) at “buy” with an unchanged price target of $2.95, while highlighting the trust as its top S-REIT pick due to its scale, and as the best proxy to recovering sector fundamentals.

This comes after the trust’s manager yesterday posted 3Q19 DPU of 3.998 cents, up 0.7% from 3.97 cents a year ago and in line with Maybank estimates.

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