1HFY25 DPU rises by 1.1%
Starhill Global REIT (Starhill) reported 1HFY25 Distributions Per Unit (DPU) of 1.80 cents, up 1.1% YoY. This is slightly below consensus estimates, representing 47.4% of consensus FY25E DPU of 3.8 cents. Revenue and Net Property Income (NPI) were up by 1.7% and 1.6% YoY respectively. Source: Company data, Beansprout research
Singapore assets continue to perform well
With a committed portfolio occupancy of 99.5% as at 31 December 2024, the Singapore properties continue to support the financial performance of the REIT, with Singapore revenues up 1.9% YoY and NPI up 2.7% YoY in 1HFY25. While tenant sales at Wisma Atria (Retail) declined 6.1% YoY due to “tenant transitions”, shopper traffic was healthy, rising 10.3% YoY.
Mixed performance in the overseas markets
Revenue and NPI across its overseas portfolio was mixed, with Malaysia seeing a 4.4% rise in Revenues and 4.3% rise in NPI, while NPI…
