Ascendas Reit posts higher Q3 DPU of 3.59 cents

ASCENDAS Reit on Thursday reported a distribution per unit (DPU) of 3.59 Singapore cents for its third quarter ended Dec 31, 2014. This was slightly higher than the 3.54 cents it paid out a year ago.

Gross revenue rose 11.2 per cent to S$171.7 million due to the recognition of rental income from Hyflux Innovation Centre and Aperia, as well as higher occupancy at Nexus@one-north and A-REIT City@Jinqiao.

Positive rental reversion in certain properties and incentive payment received as income support for A-REIT City@Jinqiao and Hyflux Innovation Centre also contributed to the higher gross revenue.

Net property income rose 5.6 per cent to S$114.6 million.

On the stock market, the Reit closed unchanged at S$2.52.