Singapore REITs earnings edged up 6.7% to $924.9m

As DPU grew 3.9%.

According to OCBC, in their latest assessment of the S-REITs sector, they continue to see familiar trends. REIT managers have generally maintained firm growth in their trusts’ rental income, on the back of contributions from past acquisitions, completed developments/asset enhancement initiatives (AEIs) and improved operational performance.

In addition, positive rental reversions remained on the cards, while leasing demand has mostly been healthy.

Here's more from OCBC:

For 1Q13, we note that the sector as a whole delivered 6.7% YoY increase in NPI to S$924.9m, while DPU showed a 3.9% growth to 47.93 S cents.

On the subsector level, the retail REITs’ NPI performance was the strongest, followed by industrial REITs.

Only the office and hospitality REIT subsectors posted declines in their quarterly NPI. However, the former was dragged down mainly by soft results from Suntec REIT amid temporary closure of the Suntec City Mall for AEI works.

Leasing activity for the office segment has by far been resilient, with positive rental reversions achieved upon renewal of most of the leases.

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