Lendlease REIT tops up distribution to beat DPU forecast

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LendLease Global Commercial REIT has reported a distribution per unit (DPU) of 1.29 Singapore cents for its maiden reporting period from 2 October to 31 December 2019.

This is 3.1% higher than the forecast DPU of 1.25 cents.

The REIT’s distributable income for the period was SGD15.0 million, 2.4% higher than forecast.

Similarly, the REIT’s gross revenue of SGD21.4 million was 1.0% higher than forecast.

Meanwhile, its net property income of SGD16.2 million exceeded forecast by 3.2%.

Top-up

However, the REIT’s DPU for the period is bolstered significantly by a capital top-up.

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