Yahoo Finance Daiwa House Logistics Trust reports 2.5% higher distributable income of $9.1 mil
Net property income (NPI) rose by 0.1% y-o-y to 1.15 billion Japanese yen during the quarter.
Daiwa House Logistics Trust (DHLT) DHLU has reported a distributable income of $9.1 million for the 1QFY2023 ended March 31, 2.5% higher y-o-y.
The quarter’s gross rental income rose by 5.3% y-o-y to 1.36 billion yen ($13.4 million).
Net property income (NPI) rose by 0.1% y-o-y to 1.15 billion Japanese yen as the larger contribution from the REIT’s properties acquired in December 2022 and rent increases from leases in 2022 were mostly offset by higher expenses incurred from the earthquake.
NPI in Singapore dollar (SGD) terms stood lower y-o-y due to the weaker yen against the SGD although the impact to distributable income was mitigated due to the exchange gains on the forwards and lower finance and other trust expenses from the weaker yen.
As at March 31, the REIT’s occupancy rate stood at 98.6%, stable q-o-q. Its weighted average lease expiry (WALE) stood at 6.9 years by gross rental income (GRI).
The REIT’s aggregate leverage as at March 31 stood at 36.2% with an interest coverage ratio of 11.2x.
Net asset value (NAV) attributable to unitholders as at March 31 fell 3.75% q-o-q to 0.77 cents.
As at 10.36am, units in DHLT are trading 1 cent higher or 1.77% up at 57.5 cents.
See Also:
Click here to stay updated with the Latest Business & Investment News in Singapore
Seatrium reveals net order book of over $20 bil in 1QFY2023 business update
Food Empire reports 50.9% earnings growth of US$13.8 mil for 1QFY2023
AEM Holdings announces net profit of $15.6 mil for 1QFY2023, down 61.8% y-o-y
Get in-depth insights from our expert contributors, and dive into financial and economic trends
