Ascendas REIT has reported a distribution per unit (DPU) of 4.005 cents for its 1Q 2019, a marginal increase of 0.1% year-on-year.
The REIT’s gross revenue for the period rose by 6.1% on-year to SGD229.7 million, bolstered by contributions from newly acquired properties in the UK and Australia.
Net property income rose by 11.5% on-year to SGD177.5 million, while the total amount available for distribution rose 6.3% over the same period to SGD124.7 million.
The REIT’s overall portfolio occupancy rate declined to 91.1% compared to 91.9% in the previous quarter.
This was mainly due to the lower portfolio occupancy rate in Australia, which fell to 92.3%.
As at 30 June 2019, the REIT’s aggregate leverage stood at 37.2% with weighted average all-in cost of borrowing was maintained at 3.0%.
Ascendas REIT was last done on the Singapore Exchange at SGD3.05, which gives a yield of about 5.25% based on data from the Singapore REITs fundamentals table.