Far East Hospitality Trust Reports A 1% Rise In Its Distribution Per Stapled Security
Far East Hospitality Trust (“Far East H-Trust”) posted a 1.2% increase in gross revenue to S$30.9 million for the quarter ended 30 September2019 (“3Q 2019”). Net property income was 1.3% higher at S$28.1 million. Income available for distribution was S$20.4 million translating to a Distribution per Stapled Security of 1.04 cents, with an enlarged base largely as a result of the implementation of the Distribution Reinvestment Plan in the last three quarters.
In the first nine months of 2019 (“YTD Sep 2019”), gross revenue was 2.2% higher atS$86.6 million and net property income was 2.4% higher at S$78.2 million. Income available for distribution was S$55.4 million or 2.86 cents per Stapled Security.
