ESR-REIT's 1Q EPU falls 15.6% to 0.847 cent on preferential offering

SINGAPORE (Apr 20): The manager of ESR-REIT, formerly known as Cambridge Industrial Trust, has declared an earnings per unit (EPU) of 0.847 cent for 1Q18, which is 15.6% lower than the 1Q EPU of 1.004 cents a year ago impacted mainly by the new units issued under its recent preferential offering and the distribution reinvestment plan units issued since 1Q17.

In March, the REIT manager launched a preferential offering of about 262.8 million new units at 54 cents each to raise $141.9 million to fund an acquisition and repay debt.