ESR-REIT's UE BizHub EAST. (Photo: REITsWeek)

Data from ESR-REIT’s latest disclosure has been incorporated into the Singapore REITs table.

ESR-REIT reported on 27 October that it has achieved a distribution per unit (DPU) of 0.712 cents for its 3Q 2021.

This represents an increase of 1.7% year-on-year despite an enlarged unit base.

Distributable income for the period increased 15.1% year-on-year to SGD28.6 million.

Gross revenue grew 7.2% to SGD61.1 million while net property income rose 8.6% to SGD43.9 million, respectively, on a year-on-year basis.

The increase was mainly due to contributions from the acquisition of 46A Tanjong Penjuru, as well as the absence of provision for COVID- 19 rental rebates, said the REIT.

Portfolio occupancy was at 91.2% 3Q2021, while year-to-date rental reversion was -2.2% as at 30 September 2021 primarily due to lower renewal rates for some large business park tenants in 3Q2021.

Its weighted average debt expiry for the period 2.6 years with aggregate leverage of 41.3%.

The weighted average all-in cost of debt was 3.41% per annum as at 30 September 2021.

ESR-REIT was last done on the SGX at SGD0.48, which presently implies a distribution yield of 5.93% according to data on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.