It has been a tough year for REITs as they must grapple with surging inflation and sharply higher interest rates.
Investors are bearish on the asset class, causing the unit prices of many REITs to tumble to their 52-week lows.
Despite these challenges, several REITs managed to report a higher distribution per unit (DPU).
Here are four Singapore REITs that managed to raise their DPU this year.
Mapletree Logistics Trust (SGX: M44U)
Mapletree Logistics Trust, or MLT, is an industrial REIT with a portfolio of 189 properties across eight countries with assets under management (AUM) of S$13.3 billion as of 30 September 2023.
Revenue for the first half of fiscal 2024 (1H FY2024) ending 30 September 2023 dipped by 0.7% year on year to S$368.9 million.
Net property income (NPI) also fell by 1% year on year to S$320.1 million.
Despite this, DPU inched up 0.5% year on year to S$0.04539.
There could be more to come from MLT as the manager accelerates the REIT’s portfolio rejuvenation....
