Soilbuild Reit Q4 DPU 3.4% above forecast

SOILBUILD Business Space Reit (Soilbuild Reit) has posted a better distribution per unit (DPU) than set out in its prospectus in its second set of earnings since listing last August.

For the fourth quarter ended Dec 31 last year, DPU was 1.51 cents per unit, 3.4 per cent higher than the forecast 1.461 cents. Combined with the Reit's first set of results reported for Aug 16 to Sept 30, DPU for H2 2013 was 2.27 cents, 3.2 per cent above the initial public offering (IPO) forecast.

This works out to a full- year DPU of 6 cents on an annualised basis, for a yield of about 7.8 per cent based on yesterday's closing price of 76.5 cents - in line with the 7.8 per cent listed in the prospectus.