ESR-Logos REIT's (SGX:J91U) net property income was down nearly 7% year over year in the third quarter to September to SG$192.7 million from SG$206.1 million, according to a filing with the Singapore Exchange on Wednesday.
Gross revenue fell 6% year over year to SG$272.5 million from SG$290.7 million mainly due to the divestment of 11 non-core assets during Q2 2024.
The REIT booked a positive rental reversion of 11.0%, while occupancy rate came in at 91.3%.
Shares of the industrial-focused trust were down nearly 2% in midday trade Wednesday.
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