Garda Diversified Property Fund has reported a distribution of 8.7 Australian cents per unit for the financial year ended 30 June 2018, a fall of 15.5% from the 10.3 cents achieved in the previous year.

This decline can be attributed to the REIT’s December 2017 entitlement offer of 26,121,622 new units, which raised funds of AUD30.0 million.

Total number of units issued in the REIT as at 30 June 2018 is 138,444,594 up from the 112,322,972 units in 2017.

The REIT’s fund from operations (FFO) for the period came in at AUD11.2 million (USD8.17 million), about 4.5% higher than what was reported in the financial year ended 30 June 2017.

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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.