Mapletree Industrial Trust’s (MIT’s) DPU for its 3QFY19/20 increased by 2.9% year-on-year to 3.16 cents despite an enlarged unit base.
The REIT’s gross revenue and net property income for the quarter were SGD102.6 million and SGD81.9 million respectively.
This represents year-on-year increases of 9.7% and 14.0% over the same period last year.
The stronger performance was mainly driven by new revenue contributions from 18 Tai Seng and 7 Tai Seng Drive, as well as higher revenue contribution from 30A Kallang Place.
Distributable income for 3QFY19/20 grew 19.2% year-on-year to SGD69.4 million.
Average Overall Portfolio occupancy for the period was higher at 90.9%, compared to 90.5% in the preceding quarter.
MIT’s aggregate leverage increased quarter-on-quarter from 29.2% to 34.1% as at 31 December 2019.
MIT was last done on the Singapore Exchange at SGD2.78.