-- Parkway Life REIT's (SGX:C2PU) distribution per unit or DPU surged 15% in the first quarter of the year to SG$0.0442 from SG$0.0384 a year earlier, according to a Thursday filing with the Singapore Exchange.
Shares of the REIT were up nearly 1% in Monday trading.
Amount available for distribution was up 15% to SG$28.8 million from SG$25.0 million.
Net property income fell 2.7% to SG$35.8 million from SG$36.8 million in the year-ago period.
Gross revenue declined 2.1% year over year to SG$38.2 million from SG$39 million, mainly due to lower rental income from the Japan portfolio.
Committed occupancy for the Singapore and France portfolio stood at 100% while that of Japan came in at 93%.