Ascott Residence Trust’s 2Q DPU rises 2% to 2.09 cents on acquisitions

SINGAPORE (July 20): Ascott Residence Trust (ART) posted a 2% rise in distribution per unit (DPU) of 2.13 cents for the 2Q16 ended June compared to 2.09 cents in the same period of last year.

Revenue for 2Q16 increased 21% to $119.4 million mainly due to the additional revenue of S$27.8 million from ART’s acquisitions in 2015 and in 2016, which included the Sheraton Tribeca New York Hotel.

The increase was partially offset by the decrease in revenue of $0.8 million from the divestment of six rental-housing properties in Japan in 3Q 2015 as well as a decrease in revenue of $6.3 million from the existing properties.

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