Ascendas Hospitality Trust posts higher Q4 DPS

ASCENDAS Hospitality Trust on Friday posted a distribution per stapled security (DPS) of 1.25 Singapore cents for its fourth quarter ended March 31, 2015, a 3.3 per cent increase from the 1.21 Singapore cents that it paid a year ago.

Gross revenue was 1.6 per cent higher at S$54.5 million; net property income was 2.8 per cent higher at S$22.6 million.

The improvement in the gross revenue was due to a better underlying performance of its Australia portfolio, and contribution by Osaka Namba of S$1.9 million. It was however partially offset by the weaker Australian dollar and Japanese yen against the Singapore dollar.

Units of the Reit closed half a cent higher at S$0.71 on the stock market.