Woolworths Sydney HQ, Australia (Photo from AIMS APAC REIT's official website)

AIMS APAC REIT posts 1.3% DPU growth in Q1 FY23

The increase was due to the 34.3% jump in the REIT’s net income.

AIMS APAC REIT (AA REIT) posted a 1.3% increase in its distribution per unit in Q1FY2023.

The REIT’s DPU rose from $0.0225 in Q1FY22 to $0.0228 in Q1FY23.

The higher DPU is on the back of the REIT’s higher total distributions to unit holders (+ 2.7% to $16.3m) and net property income (+34.3% to $31m).

“Our financial performance continues to be supported by healthy demand from new tenants in the logistics sector and contribution from our tenanted Australian properties that make up 39.5% of our portfolio,” said Russel Ng, CEO of AA REIT’s manager in a bourse disclosure.

“Amidst growing macroeconomic headwinds, we will remain firmly focused on maintaining our stable operations, while prudently driving asset enhancement initiatives and portfolio rejuvenation strategy to reposition selected properties, and add value to AA REIT’s resilient portfolio,” Ng added.

As of 30 June 2022, AA REIT has an overall portfolio occupancy of 97.l9%, and a weighted average lease expiry (WALE) of 4.93 years.

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