SPH Reit posts 5.1% rise in Q3 DPU
SPH Reit : SK6U 0% posted a 5.1 per cent increase in distribution per unit to 1.45 Singapore cents for the third quarter ended May 31, 2022, from 1.38 Singapore cents a year ago. This gives it an annualised distribution yield of 5.8 per cent.
In its business update released on Jul 7, the real estate investment trust’s (Reit’s) manager noted that year-to-date third quarter gross revenue rose 0.9 per cent year-on-year to S$211.6 million.
It attributed this to high Covid-19 vaccination rates and the easing of safe distancing measures that helped to stabilise portfolio performance.
The distribution will be paid on Aug 29, after the record date on Jul 18.
The Reit manager added that year-to-date third quarter FY2022 sales at its properties in Singapore and Australia properties rose by approximately 12 per cent and 2 per cent year-on-year respectively.
SPH Reit’s occupancy rate stands at 97.6 per cent as at May 31. Meanwhile, its weighted average lease expiry (WALE) by net lettable area stood at 5.4 years and its WALE by gross rental income stood at 2.9 years.
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Units of SPH Reit rose 2.3 per cent or S$0.02 to close at S$0.905 on Thursday (Jul 7), before the business update was released.
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