Data from Far East Hospitality Trust’s latest disclosure have been updated into the Singapore REITs table.
Far East Hospitality Trust has recorded gross revenue of SGD41.6 million for its 1H 2021.
This resulted in a net property income (NPI) of SGD36.2 million.
Despite the lower year-on-year gross revenue and NPI of 6.1% and 6.2% respectively, income available for distribution was only marginally lower by 1.4% at SGD25.3 million, said the trust.
This was due primarily to cost savings of 16.9% in finance expenses, and 3.9% in REIT manager’s fees.
Accordingly, income available for distribution after retention increased 7.6% year-on-year to SGD21.7 million.
This translates to a distribution per stapled security of 1.10 cents for 1H 2021.
The trust’s full disclosure on its results can be viewed here.
Far East Hospitality Trust was last done on the Singapore Exchange (SGX) at SGD0.58, which currently implies a distribution yield of 3.79% according to data compiled on the Singapore REITs table.