Acrophyte Hospitality Trust’s H2 DPS falls 46.7% to US$0.01026

ACROPHYTE Hospitality Trust’s distribution per stapled security (DPS) for the half year ended December 2024 was down 55.9 per cent at US$0.00848, from US$0.01929 in H2 FY2023.

The distribution will be paid out on Mar 28, after the record date on Mar 7, reported the stapled group’s managers on Thursday (Feb 27).

Its H2 revenue declined 5.2 per cent year on year to US$84.9 million from US$89.5 million in the year-ago period. 

Meanwhile, its net property income (NPI) dropped 9.2 per cent to US$23.3 million from US$25.7 million previously. 

The top-line decline came on the back of a reduction in portfolio size due to the disposition of hotels and asset enhancement initiative projects in 2024, which resulted in a lower number of rooms available for sale, the manager said. 

Acrophyte Hospitality Trust was previously known as ARA US Hospitality Trust.

The distribution amount was down 55.9 per cent at US$4.9 million from US$11.2 million in H2 FY2023.

Prior to retention, the income available for distribution would have been US$5.9 million.

Its net asset value per stapled security as at end-2024 fell marginally to US$0.73 from US$0.74 as at end-2023. 

For the full year, its DPS was down at US$0.01595 from US$0.0343 in FY2023.

FY2024 revenue fell 3.8 per cent on the year to US$168.8 million from US$175.5 million, and NPI fell 7 per cent to US$44.3 million from US$47.7 million previously. 

The distribution amount stood at US$9.3 million, down 53.4 per cent from US$19.8 million for FY2023, whereas income available for distribution was US$10.3 million.

Stapled securities of Acrophyte Hospitality Trust ended Wednesday 2.2 per cent or US$0.005 lower at US$0.22.