The Edge Singapore Thu, Jul 07, 2022
SPH REIT has reported a distribution per unit of 1.45 cents for its 3QFY2022 ended June 30, up 5.1% y-o-y. This distribution will go ex on July 15 and be paid to unitholders on Aug 29.
The REIT attributes the better returns to an overall improvement of its portfolio’s financial performance.
Revenue in the same period was $211.6 million, up 0.9% y-o-y.
SPH REIT notes that its occupancy rate is maintained at 97.6% and weighted average lease expiry is kept at 5.4 years when measured according to net leasable area.
Gearing as at June 30 was 30.1%, which gives it plenty of debt headroom flexibility, with access to $225 million of undrawn credit lines.
SPH REIT closed at 91 cents, up 2.26% for the day and down 9.5% year to date.