distribution per unit (DPU)

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.

CDL Hospitality Trusts 4Q DPS falls 2.1% to 2.77 cents on divestment impact & ongoing AEI

SINGAPORE (Jan 29): The managers of CDL Hospitality Trusts (CDL HT), a stapled group comprising CDL REIT and CDL Hospitality Business Trust, posted a 2.1% decline in 4Q18 distribution per stapled security (DPS) to 2.77 cents from 2.83 cents a year ago.

This was mainly due to the absence of contribution from three properties, specifically two Brisbane hotels divested in Jan 2018, as well as Dhevanafushi Maldives Luxury Resort, which has been closed since June 2018 for renovations as it rebrands to Raffles Maldives Meradhoo.

Ascott REIT DPU grows 5% to 2.15 cents in 4Q, scores another record year of distributable income

SINGAPORE (Jan 29): The manager of Ascott Residence Trust (Ascott REIT) has declared a distribution per unit (DPU) of 2.15 cents for 4Q18, up 5% from 2.04 cents in 4Q17 due to higher revenue.

Revenue for 4Q grew 2% to $136.5 million from $134.5 million a year ago, mainly due to additional revenue from Ascott Orchard Singapore, which was acquired in Oct 2017, as well as higher revenue from existing properties.

Key markets with strong operating performance included the US, where demand and revenue grew from upgraded apartments at Sheraton Tribeca New York Hotel.

ESR-REIT records 8.2% higher 4Q DPU of 1.005 cents with enlarged portfolio

SINGAPORE (Jan 18): The manager of ESR-REIT posted a 4Q18 distribution per unit (DPU) of 1.005 cents, 8.2% higher than the 0.929 cents declared from a year ago.

Gross revenue in the latest quarter more than doubled to $58.4 million from $27.2 million in 4Q17, after registering full quarter contributions from ESR’s two acquisitions at 8 Tuas South Lane and 7000 Ang Mo Kio Avenue 5.

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