Frasers Logistics & Industrial Trust's 17 Hudson Court, Keysborough, Victoria (Photo: Frasers Logistics & Industrial Trust)17 Hudson Court, Keysborough, Victoria (Photo: Frasers Logistics & Industrial Trust)

Frasers Logistics & Industrial Trust (FLT) has reported a 3.4% increase in DPU for its 3Q 2019 to 1.82 Australian cents.

However, in SGD terms DPU came in at 1.73 cents - a fall of 3.4% on-year.

The REIT’s gross revenue of AUD60.0 million for the period represents an on-year increase of 21.6% from AUD49.3 million in 3Q 2018.

Adjusted net property income rose 24.4% to AUD48.9 million, from AUD39.3 million for 3Q 2018.

Accordingly, distributable income was 20.4% higher at AUD36.9 million for 3Q 2019, from AUD30.7 million a year ago.

As at 30 June 2019, the REIT’s portfolio occupancy was at 99.5%, with a weighted average lease expiry (WALE) of 6.27 years.

Its aggregate leverage was 35.4% with weighted average cost of debt reducing from 2.4% per annum to 2.1% per annum.

FLT was last done on the Singapore Exchange at SGD1.21.

The information above have been updated into the Singapore REITs fundamentals table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.