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Reits always issuing new shares to pay management fee, that is common, nothing unusual. If Reits don't issue shares, they will pay more cash for mgt fee and dilute the EPS and DPU as well.
So far that I've seen, only IGB management team applies this payment method on its reits, issue shares to replace cash payment, of course it is sustainable that the company can retain cash to distribute more dividend or do capital expenditure. Please also refer to IGBREIT
Caculation has no difference, because the management fee is a cost to be deducted in the income statement, but the company pay to the managers by issuing shares intead of cash, so it can retain cash to pay more dividend.
