MINT: 4QFY16 DPU grew 6% to 2.81¢, while distributable income rose 7.8% to $50.4m, at the higher end of estimates.
Gross revenue increased 5.8% to $84m, boosted by higher occupancies, upward rental reversions (+3.3%) and full quarter contribution from the completed BTS development Equinix Singapore, while NPI expanded at a faster clip to $62m (+7.4%) stemming from lower utilities and marketing costs.
Occupancy stood at 94.6% (-0.1 ppt q/q), with WALE of 2.8 years. The bulk of lease expiries (31.4%) is set to come in FY18.
Aggregate leverage stood at 28.2% (-1.1ppt q/q) with all-in funding cost of 2.5%, and 88% of total debt hedged.
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