AIMS APAC REIT 1Q24 DPU falls despite income rise
DPU for the period declined by 5.9%.
AIMS APAC REIT's distribution per unit fell 5.9% to $0.09360 in FY24 despite higher income.
In a bourse filing, the REIT explained that the lower DPU was due to an "enlarged unit base" following an Equity Fund Raising (EFR) in July 2023.
Despite posting a lower DPU, the REIT reported an overall stronger financial performance for FY24 with higher net property income and distribution to unitholders.
In FY24, NPI rose by 6.9% YoY to $130.98m, whilst distribution to unitholders rose 3.8% YoY to $74.3m.
The REIT attributed its improved performance to a higher portfolio
occupancy, strong positive rental reversions, and high tenant retention rates.
The REIT achieved a rental reversion rate of 24.3% in FY24, driven by its logistics and warehouse segment.
Meanwhile, portfolio occupancy stood at 97.8%.
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