SPH REIT's property on Orchard Road, Paragon. (Photo: REITsWeek)

SPH REIT has reported a distribution per unit (DPU) of 1.34 Singapore cents for its 1Q 2019, unchanged from what was achieved in the corresponding period of 2018.

The REIT’s gross revenue increased marginally by 0.6% to SGD53.8 million (USD39.5 million).

SPH REIT’s net property income (NPI) for the period came in at SGD41.8 million, sliding by 1% mainly due to lower revenue at Paragon, and higher operating expenses.

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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.