14 Singapore REITs’ DPUs Up Average 31% Year-on-Year for Q1 2021 (The Business Times)
May 3, 2021- Entering the earnings season the first quarter of 2021, 14 S-Reits had reported their distributions per unit (DPUs) as at end April, averaging a 31 per cent increase year on year (yoy). Another 10 S-Reits are expected to announce quarterly business updates or financial results in May.
Of the 14 S-Reits that reported, 12 saw a yoy increase in DPU. The five S-Reits with the highest yoy DPU increments are: SPH Reit (+313.3 per cent), Mapletree Commercial Trust (+57.9 per cent), ARA Logos Logistics Trust (+35.7 per cent), Frasers Centrepoint Trust (28.4 per cent) and Keppel DC Reit (18.1 per cent).
SPH Reit declared a DPU of 1.24 Singapore cents for Q2 FY2021 ended Feb 28 – a 313.3 per cent increase yoy. Its near-term focus is to maintain healthy occupancy and sustainable rental income in partnership with tenants. SPH Reit’s portfolio occupancy rate stands at 98 per cent as at Feb 28, compared to 98.9 per cent a year ago.
Mapletree Commercial Trust (MCT) declared a DPU of 5.32 Singapore cents for H2 FY21 ended March 31, up 57.9 per cent yoy, bringing full year DPU to 9.49 Singapore cents. The latest declared DPU includes the release of S$13.0 million from the retained cash carried forward from Q4 FY20.
MCT said monthly tenant sales in Q4 FY21 have recovered to more than 86 per cent of pre-Covid levels.