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Ascott REIT posts 5% rise in 3Q DPU on one-off gain from divestment

By Stanislaus Jude Chan

/ The Edge Singapore |

October 30, 2019 3:00 PM SGT

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SINGAPORE (Oct 30): The manager of Ascott Residence Trust has reported a 5% rise in distribution per unit (DPU) to 1.91 cents for the 3Q19 ended September, from 1.82 cents a year ago.

Unitholders’ distribution for 3Q19 grew 6% to $41.6 million, led by a one-off partial distribution of a $4.0 million gain from the divestment of Ascott Raffles Place Singapore in May 2019.

3Q19 revenue dipped 2% to $132.4 million due to the absence of revenue contribution from Ascott Raffles Place Singapore as a result of the divestment.

This article - Ascott REIT posts 5% rise in 3Q DPU on one-off gain from divestment is originally from The Edge Singapore.com

Read also:

Lendlease launches IPO of $1 bil global commercial REIT

Ascott Residence Trust upgraded to 'buy' amid coronavirus uncertainty: Phillip Securities

[UPDATE] 313@somerset sold to upcoming Lendlease Global Commercial REIT for just over $1 bil

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