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Author: reitscompass   |   Latest post: Sat, 8 Feb 2020, 5:29 PM

 

Suntec REIT Reports A 9.4% Drop In DPU

Author:   |    Publish date:


Key Highlights:

  • 4Q19 distribution per unit fell 9.4% to 2.347¢

  • It is currently trading at 5.1% yield and 0.87 price to book ratio

 

1. Distributable Income

Net property income grew 4.2% to $ 63.3m, the increase was mainly contributed by 55 Currie Street, Suntec City and Southgate Complex. However, the increase in income was eroded by higher advertising and promotion expenses and the property tax for Suntec City and weaker AUD currency for its Australia property.

The REIT is currently trading at a 5.1% dividend yield.

 

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