OUEHT (S$0.665): 1Q16 DPU missed on rights dilution and ballooning finance costs
-1Q DPU 1.10¢ (-31.7% y/y) - due to enlarged unit base from rights issue
-1Q DPU (without rights) 1.47¢ (-8.7%)
-1Q distributable income $19.7m (-7.9%)
-1Q revenue $30.1m (+2.8) and NPI $26.3m (+2.2%)
-Top line was driven by hospitality segment, which offset weakness in retail segment
-Retail occupancy fell 11ppt q/q to 83%
-Offers 1Q annualised yield of 6.6% and trading at 0.75x P/B
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