S-REITs are in the spot light again today, with SPH REIT surprise DPU cut as well as the government enacting a new law to be passed in mid-April, granting restaurants and other commercial tenants that are unable to pay rent due to COVID-19 be able to hold off such contractual obligation for at least six months. This is definitely negative for retail REITs, some of which such as FCT has fallen by more than 10% today.
For now, let’s take a look at SPH REIT.
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SPH REIT 2QFY20 reviewSPH REIT announced a “shocking” 78.7% YoY decline in its DPU for 2QFY20, from 1.41 cents a year ago to just 0.30 cents.
The decline comes in spite of a 23.3% increase in its net property income (NPI) to
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