Prime US REIT's (SGX:OXMU) income available for distribution declined to $8.5 million in the third quarter of the year, from $14.7 million in the year-ago period, mainly due to lower contribution from lower occupancy at various properties.
The trust also booked a lower net property income of $18.0 million in Q3, compared with $23.4 million a year earlier, according to a filing with the Singapore Exchange on Thursday.
Gross revenue declined to $34.1 million from $40.2 million.
Meanwhile, total portfolio occupancy came in at 83.0% while rental reversion was up 6.5%.
Shares of the REIT rose nearly 4% in recent trading.
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