Keppel Reit reports DPU of 1.48 cents for Q4, 6.37 cents for full year

KEPPEL Reit announced on Tuesday a distribution per unit (DPU) of 1.48 Singapore cents for the fourth quarter of 2016, bringing the total DPU for the full year to 6.37 Singapore cents.

Its distribution yield for the year ended Dec 31, 2016, was 6.2 per cent.

The real estate investment trust also announced a high tenant retention rate of 95 per cent and a portfolio occupancy rate of 99.2 per cent as at the end of 2016.

Its rent reversion - for new, renewal, forward renewal and review leases - for all assets in its portfolio, however, was at -9 per cent for FY 2016.

Keppel Reit - which owns assets such as Ocean Financial Centre, Marina Bay Financial Centre and One Raffles Quay in Singapore, as well as assets in Australia - was conservative about prospects in the year ahead.

It said the challenging global economic environment is expected to have a continued dampening effect on the Singapore office leasing market, particularly in 2017.

Keppel Reit shares finished half a cent up at $1.045 on Tuesday.