United Hampshire US REIT Review @ 27 February 2023

Basic Profile & Key Statistics

Main Sector(s): Retail & Logistics (Self-Storage)Country(s) with Assets: United StatesNo. of Properties (exclude development/associate/fund): 23

Key Indicators

Performance Highlight

Gross revenue, NPI and distributable income increased yoy mainly due to contributions from Colonial Square, Penrose Plaza and Upland Square which were acquired between Nov 2021 to July 2022. DPU on the other hand declined slightly due to the absence of income support. Excluding the income support in 2H FY21, DPU improved by 5.7% yoy.

Development

UHREIT would develop a new building on ST. Lucie West excess land for Acedemy Sports and target to complete by Q1 2025.

Asset Enhancement Initiative

UHREIT has achieved more than the FY22 target for its environmental target.

Distributable Income Breakdown:89.5% from Operation10% from Fees Payable/Paid in Units0.5% from Income SupportDistribution = 100% of Distributable Income

Related Parties Shareholding

REIT Sponsor’s Shareholding: Below median for more than 20%REIT Manager’s Shareholding: Below median

Author: jeserje

Leave a Reply

Your email address will not be published. Required fields are marked *