Agent.sg / Property news / Ascendas REIT's NPI up 8.5% to $182.3m in Q3

Ascendas REIT's NPI up 8.5% to $182.3m in Q3

Fresh property news selection on February 03. 2020, Monday.

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Its logistics assets in the UK led has the most contributions.

Ascendas REIT saw its net property income (NPI) rose 8.5% YoY to $182.3m in Q3 2019 from $168m in 2018, an announcement revealed. However, its distribution per unit (DPU) fell 12.3% to 3.51 cents from 4 cents over the same period.

Total amount available for distribution edged up 2.1% YoY in Q3 to $126.9m from $124.3m, whilst its gross revenue also grew 5.1% YoY to $239.7m from $226.4m in Q3 2018.

For its 9M period, NPI edged up 10.6% YoY to $537.7m from $486.1m in 9M 2018, whilst its DPU dipped 3.3% YoY to 11.49 cents. The NPI growth was attributed to contributions from the 38 logistics properties in the UK, 28 properties in the US and two properties in Singapore.

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