Ascendas Hospitality Trust's Q3 DPS down 14%

Singapore

DRAGGED down by weakness in its Australia portfolio, Ascendas Hospitality Trust (A-HTRUST) posted a 14 per cent drop in distribution per stapled security (DPS) to 1.41 Singapore cents for the third quarter ended Dec 31, 2017 .

Net property income (NPI) slipped 4.7 per cent from a year ago to S$25.2 million amid weaker performance in the Australia portfolio and translation losses in foreign-currency earnings due to the stronger Singapore dollar.

Income available for distribution, less income retained for working capital, fell 13.7 per cent to S$16 million due to lower NPI, higher trust expense, absence of one-of…