SPH Reit posts flat Q3 DPU of 1.37 cents

Singapore

RETAIL landlord SPH Reit has declared distribution per unit of 1.37 Singapore cents for the third quarter ended May 31, unchanged from a year ago.

But net property income marked a 3.8 per cent decline from a year ago to S$40.56 million, mainly due to lower rental income from Paragon. Gross revenue fell 2.9 per cent year-on-year to S$51.77 million.

Paragon recorded a negative rental reversion of 6.2 per cent for new and renewed leases during the nin…