THIRTEEN Singapore real estate investment trusts (S-Reits) have announced dates of their upcoming earnings releases or business updates, with SPH Reit : SK6U 0% kicking off the current reporting season for the sector with the release of its third-quarter FY2022 business update (ended May 31, 2022) on Jul 7, 2022.

Of the 13, 9 will be reporting first-half financial results for the year, while 3 will be releasing business updates for their respective periods ending Jun 30, 2022.

The rest of the sector will be unveiling dates of their earnings or business updates over the coming weeks.

SPH Reit in its latest Q3 FY2022 business updates announced a distribution per unit (DPU) of 1.45 Singapore cents, which represents a 5.1 per cent year-on-year increase and brings the annualised distribution yield to 5.81 per cent.

Ascribing to high vaccination rates and the ease of safe distancing measures in both Singapore and Australia, SPH Reit highlighted overall improvement in financial performance, with year-to-date Q3 FY2022 gross revenue recording a 0.9 per cent year-on-year increase to S$211.6 million.

Sales for the same period increased by 12 per cent and 2 per cent in Singapore and Australia respectively.

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Across SPH Reit’s portfolio, occupancy rate maintained at 97.6 per cent, while weighted average lease expiry (WALE) stood at 5.4 years by net lettable area and 2.9 years by gross rental income.

In Singapore, its Paragon property saw marked recovery following the relaxation of restrictions in March/April 2022 as tenant sales for the quarter grew 45 per cent year-on-year and exceeded pre-Covid levels.

The Clementi Mall recorded a 6.3 per cent improvement in tenant sales supported by strong food and beverage (F&B) performance.

Its Australia properties also observed recovery in tenant sales post the spike in cases earlier this year.

The iEdge S-Reit Index, a benchmark for Singapore Reits, maintained resiliency for H1 2022 with flat total returns, compared to the FTSE EPRA Nareit Developed Index (a benchmark for global Reits) which declined 18 per cent. SGX RESEARCH

The writer is a research analyst at SGX. For more research and information on Singapore’s Reit sector, visit sgx.com/research-education/sectors for the monthly S-Reits & Property Trusts Chartbook. Source: SGX Research S-Reits & Property Trusts Chartbook.