Ascendas REIT reports 1.2% higher DPU for 3Q of 3.993 cents

SINGAPORE (Jan 25): The manager of Ascendas Real Estate Investment Trust (Ascendas REIT), reported DPU rose by 1.2% y-o-y to 3.993 cents from 3.946 cents in 3Q ended Dec despite the increase in number of units in issue.

Net property income rose by 9.0% y-o-y to $155 million. This was mainly due to contributions from the acquisition of the Australian portfolio and ONE@Changi City, but partially offset by the loss of income from the divestments of A-REIT City @Jinqiao, Ascendas Z-Link and Four Acres Singapore.

The provision of $8.4 million performance fee in the same quarter last year, despite the higher interest expense this 3Q, contributed to the 19.2% y-o-y growth in total amount available for distribution to $115.1 million.

---

Related Stories

• Pioneers of S-REITs: CapitaLand Investment and its REITs
• Ascendas REIT attractively valued, analysts maintain 'buy'
• Ascendas REIT plans to acquire the Philips APAC Center for $104.8 million

---