Cambridge Industrial Trust posts 12.6% decline in 4Q DPU to 1 cent

SINGAPORE (Jan 25): Cambridge Industrial Trust (CIT) has declared a distribution per unit (DPU) of 1 cent for the fourth quarter ended 31 Dec, 12.6% down from 1.14 cents in 4Q15.

The trust’s DPU for FY16 totals to 4.17 cents, representing a 12.9% decline from 4.79 cents a year ago.

Gross revenue for 4Q declined 2.5% on-year to $27.8 million from $28.5 million in the preceding year. This was mainly attributed to several master lease expiries and subsequent conversion to multi-tenancy and divestment of properties – notwithstanding revenue contributions from the leasing up of properties and rent escalations in CIT’s existing portfolio.

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