Mapletree Industrial Trust's net property income drops 1.4% YoY to $128.6m in 2QFY23/24
In the same quarter, DPU fell 1.2% YoY.
Mapletree Industrial Trust (MIT) posted a 1.4% YoY lower net property income (NPI) of $128.6m in 2QFY23/24.
The REIT also reported a 1.2% YoY lower distribution per unit (DPU) of $0.0332.
MIT, however, said the lower DPU was "a result of an enlarged unit base following the equity fundraising exercise in 1QFY23/24 and the distribution reinvestment plan for distributions from 3QFY21/22 to 3QFY22/23."
Meanwhile, the REIT reported a higher average rental rate of its Singapore portfolio at 2.19 per square foot per month (psf/mth) in 2QFY23/24 from $2.18 psf/mth in 1QFY23/24.