Sorrento Towers (Prime US REIT)Sorrento Towers (Prime US REIT)

Data from Prime US REIT’s latest disclosure have been updated into the Singapore REITs table.

Prime US REIT reported on 3 August that its gross revenue and net property income (NPI) for 1H 2021 have come in at USD72.1 million and USD46.3 million respectively.

The revenue represents an increase of 1.2% year-on-year, but the NPI is a fall of 2.3% from what was reported in the previous financial year.

Accordingly, distributable income of USD35.4 million came in 1.3% lower year-on-year.

Meanwhile, distribution per unit (DPU) for 1H2021 was US 3.33 cents, a fall of 5.4% year-on-year.

The REIT’s full disclosure on its results can be viewed here.

Prime US REIT was last done on the Singapore Exchange at USD0.84, which currently implies a distribution yield of 7.93% according to data compiled on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.