MREIT first-sem profit jumped 34%
MREIT Inc., the real estate investment trust of property giant Megaworld Corp., posted a 34-percent jump in first-half distributable income this year. Higher occupancy, a larger property portfolio and improved operating efficiency lifted earnings and supported higher dividends for shareholders.
MREIT said on Thursday that its distributable income reached P2.49 billion in the first six months of 2026.
The growth was driven by the completion of its “Wave 4” asset infusion, stronger portfolio occupancy and continued gains in operating efficiency.
The increase outpaced the company’s 26-percent rise in revenues to P3.41 billion during the period.
Meanwhile, its net operating income margin improved by 121 basis points to 81 percent, reflecting cost efficiencies and operating leverage across its expanded portfolio.
MREIT said the margin improvement came despite inflationary pressures and higher energy-related costs linked to the Middle East crisis.
The company added that disciplined cost management and its transition to 100-percent renewable electricity across its portfolio helped reduce exposure to volatile electricity costs while supporting its sustainability goals.
Portfolio occupancy likewise improved to 90 percent, from 89 percent a year earlier.
MREIT also declared a second-quarter cash dividend of P0.2630 per share, up 5 percent.
The dividend will be paid on Aug. 28 to stockholders on record as of Aug. 14. This brought total first-half dividends to P0.5260 per share, equivalent to an annualized dividend yield of 7.6 percent based on the REIT’s latest closing share price.
