First REIT (SGX:AW9U) distribution per unit for the year ended Dec. 31, 2024, declined 4.8% to SG$0.0236 from SG$0.0248 a year earlier, according to a filing with the Singapore Exchange on Tuesday.
Distributable income slipped 4.1% year over year to SG$49.3 million from SG$51.4 million.
Net property income was down 6.5% to SG$98.5 million from SG$105.3 million a year earlier.
Rental and other income was down 5.9% year over year to SG$102.2 million from SG$108.6 million, mainly due to the depreciation of the Japanese yen and the Indonesian rupiah against the Singapore Dollar.
The REIT's portfolio was valued at SG$1.12 billion as at Dec. 31, 2024.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.