Keppel REIT has reported a DPU of 1.40 Singapore cents for its 3Q 2017, a fall of 12.5% from the 1.60 cents achieved in the corresponding period of 2016.
The REIT’s property income, and net property income for the period came in at SGD40.4 million, and SGD31.7 million, 10.7% and 0.3% higher year-on-year respectively.
Subsequently, Keppel REIT’s distributable income for the first nine months of 2017 came in at SGD142.5 million, about 10.6% lower than the SGD159.4 million achieved in the same period for 2016.
“On a year-on-year basis, [distributable income]of $142.5 million for [the first nine months of]2017 was lower mainly due to the absence of income from 77 King Street in Sydney which was divested in January 2016, lower one-off income received and the absence of other gains distribution”, said the REIT in its statement.
Keppel REIT’s aggregate leverage for the quarter was at 38.8%, with weighted average term to maturity of its borrowings at 3.0 years.