FOR the quarter ended June, the four largest Singapore-listed real estate investment trusts (S-Reits) that own office assets posted an average distribution per unit (DPU) of 2.07 Singapore cents, down an average of 0.3 per cent from the year-ago period. Read more at The Business Times.
FOR the quarter ended June, the four largest Singapore-listed real estate investment trusts that own office assets posted an average distribution per unit of 2.07 Singapore cents, down an average of 0.3 per cent from the year-ago period.
This was followed by MCT with a DPU of 2.31 cents, up 3.6 per cent. MCT registered the highest year-on-year growth in DPU among the four largest office S-Reits.The four trusts averaged a 7.9 per cent year-on-year fall in net property income to S$63.5 million, while their gross revenue declined by an average 4.7 per cent from a year ago to S$85.4 million.During the June quarter, the highest aggregate leverage ratios were seen at Keppel Reit and Suntec Reit, at 38.4 per cent and 38.
For the year to date, the four office S-Reits averaged a total return of 19.6 per cent, bringing their one-year and three-year total returns to 20.1 per cent and 51.5 per cent respectively. Meanwhile, for MCT, OCBC Investment Research on Friday downgraded its call to “sell”, with a higher fair value estimate of S$1.89 after adjustments, up from S$1.85 previously. OCBC believes positives have likely been priced in, with MCT trading at an all-time high share price of S$2.10 on Friday. Although the Reit achieved healthy rental reversions of 7.
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