- In FY23, Sabana Industrial REIT (SGX:M1GU)'s revenues surged to S$111.9m, marking a substantial 17.9% y-o-y increase. This strong growth can be attributed to consistently robust positive rental reversions and sustained stable occupancy rates.
- - Read this at SGinvestors.io -
- It's worth noting that revenues could have been even higher were it not for a S$2.0m impairment in accounts receivable related to the master tenant at 33/35 Penjuru Lane. Legal proceedings concerning this matter are still ongoing.
FY23 DPU of 2.76 cents was 9.5% lower y-o-y due to retention of income.
- Sabana Industrial REIT's FY23 DPU would have matched FY22’s DPU of 3.05 cents if not for the decision to retain 10% of income. With the 10% income retention, FY23 DPU settled at 2.76 cents. See Sabana REIT's distribution dates.
- - Read this at SGinvestors.io -
~S$4.64m has been spent on activities related to the internalisation of the REIT.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Dale LAI DBS Group Research | Derek TAN DBS Research | https://www.dbs.com/insightsdirect/ 2024-01-24
Previous report by DBS:
2023-08-08 Sabana Industrial REIT - More Clarity Or More Uncertainties Going Forward?.
Price targets by other brokers at Sabana REIT Target Prices.
Listing of research reports at Sabana REIT Analyst Reports.
Relevant links:
Sabana REIT Share Price History,
Sabana REIT Announcements,
Sabana REIT Dividends & Corporate Actions,
Sabana REIT News Articles
