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Stocks to watch: Ascott Residence Trust, Frasers Commercial Trust
THE following companies made announcements that may affect their share price on Friday.
Ascott Residence Trust: Its distribution per unit (DPU) fell by 0.24 Singapore cents from a year ago to 1.51 cents for the first quarter of financial year 2017, even as gross revenue and revenue per available unit (RevPAU) rose. It said that the 2016 acquisition of the Sheraton Tribeca New York Hotel was the main reason for higher revenue and RevPAU, but lower DPU.
Frasers Commercial Trust: The manager of the trust reported a rise in distribution per unit (DPU) of 0.06 Singapore cents to 2.51 cents for the second quarter of financial year 2017, when compared to a year ago. No management fees were taken in units for the quarter by the manager, while 40 per cent of the management fees for the quarter were taken in units in Q2 FY16.