What Investors Should Know About Prime US REIT’s (SGX: OXMU) 2020 First-Quarter Business Update
By Seedly • June 4, 2020
Prime US REIT (SGX: OXMU), which was listed on the Singapore stock market on 19 July 2019, is a real estate investment trust (REIT) that invests in US office properties. Prime US REIT’s portfolio consists of 12 prime and freehold office properties strategically located in ten primary markets of the US. Source: Prime US REIT 1Q2020 business update presentation For those interested to invest in Prime US REIT, here are some highlights from its business update for the first quarter of 2020. How Did Prime US REIT Perform in the Latest Quarter? For the period from 1 January to 31 March 2020, Prime US REIT posted gross revenue of US$35.1 million, up 4.1% from its IPO projection. Gross revenue is money a REIT receives from its tenants mainly through the rentals. Meanwhile, net property income (NPI) and distributable income also did better than projections, as...
