United Hampshire US REIT’s 1Q FY24 Result Review
By REIT-TIREMENT  •  May 21, 2024
Basic Profile & Key Statistics

Key Indicators

Performance Highlight
Gross revenue has improved slightly YoY mainly contributed by new leases and rental escalations as well as revenue from Academy Sports + Outdoors store at St. Lucie West which commenced operation in November 2023. Despite that, NPI has declined slightly probably due to higher property expenses. Distributable income has declined significantly, as a result of higher interest rates and management fees being paid entirely in cash."

Related Parties Shareholding
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The directors of the REIT manager hold a relatively high proportion of shares, while the REIT sponsor and REIT manager hold a relatively low proportion.

Lease Profile

The properties have a long WALE, with a well-spread lease expiry. Plus, the majority of these properties are freehold.

Debt Profile
The cost of debt is high, with a relatively low proportion of fixed-rate debt and no unsecured debt, which are less favorable.

Diversification Profile
The portfolio demonstrates geographical and property diversification, but tenant contributions
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I am Vince and welcome to my blog. I started this blog on 1st January 2019. Since the start of my investment journey, I have been fond of REITs because of its dividends. REITs allowed you to become a property landlord and get rental income without having to fork out large sum of initial capital, look out for tenant as well as manage the properties ...

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