ARA LOGOS Logistics Trust's Changi Districentre 2. (Photo: REITsWeek)ARA LOGOS Logistics Trust's Changi Districentre 2. (Photo: REITsWeek)

Data from ARA LOGOS Logistics Trust is in the Singapore REITs table

ARA LOGOS Logistics Trust (ALOG) disclosed on 26 January that its distribution per unit (DPU) for 2H FY2021 and FY2021 was 2.464 cents and 5.034 cents respectively.

The DPU for FY2021 represents a decrease of 4.1% and the REIT has attributed this largely to an enlarged unit base following an equity fund raising exercise.

Year-on-year, ALOG’s FY2021 gross revenue and net property income (NPI) saw increases of 15.2% and 16.6% to SGD135.2 million and SGD104.9 million respectively.

The REIT has attributed this to incremental contribution from the completed Australian portfolio acquisition in April 2021 and stronger overall portfolio performance.

This was however partially offset by the divestments of Kidman Park in Australia and ALOG Changi DistriCentre 2 in Singapore.

Accordingly, distributable income in FY2021 was also 19.6% higher at SGD70.4 million as compared to SGD58.8 million in FY2020.

As at 31 December 2021, ALOG’s committed occupancy was at 99.0% with 203,956 square metres of leases secured and renewed at a positive rental reversion rate of 3.1%.

The REIT’s portfolio WALE by gross rental income is at 4.4 years.

ALOG was last done on the Singapore Exchange (SGX) at SGD0.875, which presently implies a distribution yield of 6.08% 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.