A-Reit's Q2 DPU drops 3.1% to 4.03 Singapore cents
ASCENDAS Real Estate Investment Trust (A-Reit) posted a 3.1 per cent drop in distribution per unit (DPU) at 4.03 Singapore cents for the second quarter ended Sept 30, 2016, from 4.16 Singapore cents a year ago.
For the first half of FY16/17, the total amount available for distrubition rose 13.9 per cent to S$219.36 million from S$192.65 million.
Net property income came in 21.7 per cent higher at S$301.92 million, while gross revenue rose 13.7 per cent to S$413.03 million.
The latter was mainly attributable to the acquisition of One@Changi City as well as other Australian properties, although this was partially offset by the divestment of Ascendas Z-Link and Four Acres.
Said A-Reit: "The continuing capital recycling strategy, rejuvenation exercise and selective asset repositioning will strengthen our property portfolio and optimise returns for unitholders.
"Barring any unforeseen events and any further weakening of the economic environment, the manager expects A-Reit to maintain a stable performance for the financial year ending March 31, 2017."
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
China Vanke posts another quarterly loss on sales drought
Miami office tower goes up for sale for more than US$500 million
WeWork cuts new restructuring deal that spurns Adam Neumann
Abu Dhabi builder plans US$6.8 billion luxury housing project
JTC to sell hospitality project being built in Punggol Digital District
Mapletree Logistics Trust posts 2.5% drop in Q4 DPU; manager warns of further headwinds