SPH REIT's The Clementi Mall (Photo: REITsWeek)SPH REIT's The Clementi Mall (Photo: REITsWeek)

Security analysts have issued differing recommendations on SPH REIT amid falling rents at its properties.

SPH REIT reported a distribution per unit (DPU) of of 1.4 Singapore cents for its 2Q 2018, unchanged from what was achieved in the corresponding period of the previous financial year.

Correspondingly, the REIT’s gross revenue for the quarter fell by 0.8% year-on-year to SGD53.6 million (USD40.6 million), while its net property income (NPI) slid by 1.1% to SGD42.2 million.

Read: SPH REIT reports nil DPU growth for 2Q amid sliding rents

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.