Ascott Residence Trust’s 4Q DPU remains flat at 2 cents

SINGAPORE (Jan 24): Ascott Residence Trust (ART) has posted a distribution per unit (DPU) of 2.04 cents for 4Q16, relatively unchanged from 2.07 cents from a year ago.

This however brings the trust’s FY16 DPU to 8.31 cents, 4% higher compared to 7.99 cents in the previous year.

Revenue for the quarter grew 6% to $126.7 million, largely attributed to additional contribution from ART’s acquisition of Sheraton Tribeca New York Hotel in the US, which was completed in April 2016.

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