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GLP J-REIT revises earnings forecast for 6-month period ending Feb. 28, 2019

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GLP J-REIT revises earnings forecast for 6-month period ending Feb. 28, 2019

Japanese industrial real estate investment trust GLP J-REIT revised its earnings guidance for the fiscal period from Sept. 1 to Feb. 28, 2019, and provided guidance for the subsequent six months ending Aug. 31, 2019.

For the period ending February 2019, GLP expects net income to total ¥8.82 billion, up from its previous estimate of roughly ¥7.51 billion. Operating income guidance was raised to ¥10.07 billion from roughly ¥8.59 billion, while operating revenue guidance was lifted to ¥18.60 billion from ¥16.33 billion. The REIT now expects to distribute ¥2,302 per unit for the period, up from its previous forecast of ¥2,206.

For the six-month period ending Aug. 31, GLP expects to generate net income of ¥8.70 billion, while operating income and operating revenue are projected to total roughly ¥9.91 billion and ¥18.90 billion, respectively.

As of Aug. 10, US$1 was equivalent to ¥110.65.