Arena REIT has reported statutory net profit of AUD165.4 million for the 2021 financial year, which represents an increase of 116% from the previous year.

Subsequently, the REIT’s distributable income for the year was AUD51.9 million, which is up 18.5% over the same period.

Correspondingly, Arena REIT has posted a distribution per security (DPS) of 14.8 Australian cents for the year, which is an increase of 6% from the 2020 reporting period.

Arena REIT’s managing director, Rob de Vos, attributed performance for the year to its stable of tenants, which continued to provide essential services despite the COVID-19 pandemic.

Over the year, Arena REIT’s total assets increased by 14% to AUD1.151 billion as a result of acquisitions and positive portfolio revaluation.

As a result, the REIT’s net asset value per security rose by 15% to AUD2.56.

Arena REIT’s full disclosure on its results can be viewed here.

Arena REIT was last done on the ASX at AUD3.83, which currently implies a distribution yield of 3.86%.