Ascott Reit's Q2 DPU down 14%; units close higher

Unitholders' distribution jumps 34% to S$46.9m; Reit manager points to Australia and US as promising markets for acquisitions

Nisha Ramchandani

Published Thu, Jul 20, 2017 · 09:50 PM

ascott residence trust

Singapore

UNITS in Ascott Residence Trust (Ascott Reit) rose two cents to close at S$1.195 on Thursday after the Reit announced a distribution per unit (DPU) of 1.84 Singapore cents for the second quarter of 2017.

This was down 14 per cent from a year ago. However, excluding a one-off realised foreign-exchange gain and the effects of a recent rights issue, the DPU for Q2 2017 would have been 2.10 cents for a same store comparison, Ascott Reit said.

In March, the Reit had announced a rights issue to raise gross proceeds of about S$442.7 million, which would be used to partly fund the remaining purchase price of Ascott Orchard Singapore and the acquisitio…

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