Data from Far East Hospitality Trust’s latest disclosure has been incorporated into the Singapore REITs table.
Far East Hospitality Trust (FEHT) has reported gross revenue of SGD20.8 million for its 3Q 2021, 0.7% higher year-on-year.
Accordingly, net property income (NPI) was SGD18.3 million, 2.6% higher over the same period.
As such, income available for distribution was SGD13.5million, 12.5%higher year-on-year.
FEHT’s serviced residence segment experienced a decline in demand during the quarter but continued to perform above the fixed rent.
Meanwhile, the higher revenue for the commercial premises was due to lower rental rebates provided in 3Q 2021, said the trust.
Finance expenses were 18.0% lower, mainly due to lower fixed rates from the newer interest rate swap contracts.
FEHT was last done on the SGX at SGD0.645, which presently implies a distribution yield of 3.41% according to data on the Singapore REITs table.