Singapore-listed Industrial REIT Soilbuild Business Space REIT has announced a DPU of 1.51 cents for the period from 1 October 2013 to 31 December 2013 (4Q2013), beating original forecast of 1.46 cents by 3.4 per cent.

Soilbuild REIT beat DPU forecast for the quarter by 3.2%

The results bring the annualised DPU to 5.99 cents, a distribution yield of 7.88 per cent based on the closing price of S$0.77 per unit. The result comes on the back of marginally better than expected revenue figures which came in 0.9 per cent higher at S$16.3 million.

However manager's fees during the quarter for the REIT came in 15.5 per cent higher than expected at 1.36 million as compared to the forecast of 1.1 million.

Gearing for the REIT stands at 29.3 per cent. Occupancy for the portfolio reported in at a healthy 99.9 per cent with a Weighted Average Lease to Expiry (WALE) of 3.6 years.

Units of the REIT closed the trading day slightly higher at S$0.765 on the Singapore Exchange.