Far East Hospitality Trust has reported distribution per stapled security (DPS) of 2.41 cents in FY 2020, a fall of 36.7% compared to the 3.81 cents in FY 2019.
For FY2020, gross revenue was SGD83.3 million, while net property income was SGD72.2 million and income available for distribution was SGD47.9 million.
“The gross revenue for our trust is protected by the fixed rent component of the master leases, which formed about 77% of gross revenue for FY 2020”, said Gerald Lee, CEO of the REIT’s manager.
“The fixed component, with its minimum rental payment, provides downside protection for stapled securityholders and mitigates the impact of the volatility experienced during adverse economic or environmental circumstances”, he added.
Far East Hospitality Trust was last done on the SGX at SGD0.585, which implies a distribution yield of 4.1% according to data compiled on the Singapore REITs table.