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A-Reit's Q4 DPU fell 8.1 % to 3.41 Singapore cents on S$9m performance fees

ASCENDAS Real Estate Investment Trust (A-Reit) has posted an 8.1 per cent year-on-year drop in fourth quarter distribution per unit (DPU) to 3.41 Singapore cents from 3.71 cents in the same period a year ago.

This was mainly due to performance fees of S$9 million, A-Reit's manager said on Thursday. "Otherwise, Q4 estimated DPU would have increased by 1.3 per cent, mainly due to contribution from new acquisitions but partially diluted by the higher number of A-Reit units in issue," it added.

Net property income rose 22.4 per cent to S$143.47 million for Q4 ended March 31, 2016. Gross revenue climbed 17.4 per cent to S$204.04 million.

The counter closed one Singapore cent higher at S$2.40 on Thursday.