BHG Retail REIT has reported a DPU of 1.31 Singapore cents for its 4Q 2016, beating forecast made during its IPO for the period marginally by 0.8%.
Net property income (NPI) for the period also came in better than expected by 1.1% at SGD10.3 million (USD7.3 million), while distributable income beat forecast by 1.7% at SGD4.6 million.
However gross revenue for 4Q 2016 missed expectations by 4.5% at SGD15.8 million.
In its statement on 23 February, BHG Retail REIT has pointed higher property tax-related expenses, which has come about due to changes in the Chinese government’s tax policies, as a factor that has affected NPI.
Its gearing for the period was at 31.0% with a weighted average term to maturity of 2.0 years.
BHG Retail REIT finished the trading day about 0.7% higher from its previous close on the Singapore Exchange to end at SGD0.775.