Ascott Reit posts 1.1% rise in Q1 distributable income; DPU dips

Singapore

ASCOTT Residence Trust (Ascott Reit) on Friday posted, for the first quarter of 2016, 1.1 per cent year-on-year rise in distributable income to S$27.3 million and a distribution per unit (DPU) of 1.75 Singapore cents, down from 1.76 Singapore cents a year ago.

In March, Ascott Reit raised S$100 million through an equity placement by issuing 94.8 million new units at a price of S$1.055 per unit to partly fund its second acquisition in New York. Excluding the effect of the equity placement, its first-quarter DPU would be 1.76 Singapore cents.