Elite Commercial REIT posts 24.2% YoY lower DPU of £0.0194 in 1H23

On a quarter-on-quarter basis, DPU grew by 6.4%.

The distribution per unit (DPU) of Elite Commercial REIT dropped by 24.2% YoY in 1H23 to £0.0194 ($0.033) despite posting higher revenue for the period.

In 1H23, the REIT saw a 3.4% YoY growth in its revenue, reaching £19.1m.

The REIT attributed its improved revenue to “net annualised inflation-linked rent escalation of 13.1% for 136 assets and partially offset by the vacancy of eight assets, effective 1 April 2023.”

Meanwhile, unitholders can expect to receive £0.0174 since the REIT has a 90% payout ratio.

The DPU for the period translates to an annualised yield of 11.5%.

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