Daiwa House Logistics Trust Sees Distribution Per Unit Plummet Amid High Vacancies

Daiwa House Logistics Trust (DHLT) reported a decline in its first-half distribution per unit (DPU) for fiscal year 2026, falling 18.8% to 1.82 cents due to higher vacancy and interest expenses.

The Japan portfolio was particularly affected by high vacancies at DPL Sendai Port and DPL Kawasaki Yako, while the weaker Japanese yen against the Singapore dollar also weighed on results.

Gross revenue declined 11.8% year-on-year to S$25.7 million, with net property income (NPI) falling 13.4% to S$19.5 million.