Rent increases and new properties lift income at Cache Logistics Trust
Published on Jan 21, 2014 9:13 PM
Distributable income at Cache Logistics Trust rose 9.6 per cent in the fourth quarter due to rent increases and investment properties bought in 2012 and 2013.
Distributable income was $16.6 million for the three months to Dec 31, from $15.2 million a year ago. Gross revenue rose 8.2 per cent to $20.7 million.
But distribution per unit fell 0.8 per cent to 2.137 cents as a dilutive placement in March last year raised the number of issued units.
The quarter's distributions will be paid on Feb 25.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here