Cambridge Industrial Trust distributable income rises 3.8% in fourth quarter
Fourth quarter distributable income at Cambridge Industrial Trust rose 3.8 per cent as the real estate investment trust (Reit) saved on paying performance fees to its manager.
Distributable income was $15.5 million for the three months to Dec 31, up from $14.9 million a year before.
Distribution per unit was up 1.8 per cent to 1.251 cents. The distribution for the fourth quarter will be paid on Feb 28, with the books closure date on Jan 27.
Cambridge continued to pay management fees for the three months, but did not fork out performance fees. In contrast, it had paid performance fees of about $3.34 million a year ago.