REIT Financial News - Ascendas Reit Financial Results for 3Q FY2009/10 ending 31 Dec 2009

Ascendas Reit - Financial Results for 3Q FY2009/10 ending 31 Dec 2009. Related reports:

• Press Release
• Financial Statements
• Presentation Slides
• Notice of Book Closure

Key Points

• DPU for the quarter at 3.27 cents compared with 2.88 cents in 3Q FY2008/09.
• Occupancy rate for the portfolio moderated slightly to 96.5% from 96.8% a quarter ago.
• As at 31 December 2009, A-REIT has a portfolio of 91 properties with a total asset value of about S$4.8b.
• The Manager is in the process of refinancing its S$300m term loan facility due in March 2010.
• As at 31 December 2009, the weighted average cost of funding is about 3.91% with a healthy aggregate leverage of 31.2%.
• Latest Net Asset Value (NAV) per unit is S$1.61.
  
• Books will be closed at 5.00 p.m. on Tuesday, 26 January 2010 for the purpose of determining unitholders' entitlements.
  
• Distribution will be paid on Friday, 26 February 2010.

Author's Note
Based on the closing price of 2.02 on Jan 18, the DPU of 3.27 cents represents an annualized yield of 6.48%. Gearing is at 31.2%. Latest NAV per unit is S$1.61.