CapitaLand Ascendas Reit H1 DPU declines 2% on higher interest expense, enlarged unit base
CAPITALAND Ascendas Reit : A17U 0% (Clar) posted a distribution per unit (DPU) of S$0.07719 for the first half ended Jun 30, down 2 per cent from the corresponding year-ago period, its manager announced on Monday (Jul 31).
This comes as the total amount available for distribution declined by 1 per cent to S$327.5 million, which was attributed to higher interest expense resulting from rising interest rates. DPU was also lower due to an enlarged unit base following the real estate investment trust’s (Reit) private placement in May.
Revenue for the period climbed 7.7 per cent to S$718.1 million, from S$666.5 million, due to the acquisition of seven logistics properties in Chicago in June last year, the acquisition of three Singapore properties in the first half of 2023, as well as the completed acquisitions of two properties in Australia in February 2022.
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