St Lucie West - Publix (United Hampshire US REIT)St Lucie West - Publix (United Hampshire US REIT)

Data from United Hampshire US REIT’s latest disclosure has been updated into the Singapore REITs table.

United Hampshire US REIT (UHREIT) disclosed on 12 May that its gross revenue and net property income (NPI) for 1Q 2022 rose 20.0% and 13.1% year-on-year to USD16.2 million and USD11.4 million respectively.

Distributable income for the period was USD8.1 million, 7.9% higher than the USD7.6 million achieved in 1Q 2021.

UHREIT has attributed these increases to new income from its inaugural acquisitions of Colonial Square on 12 November 2021 and Penrose Plaza on 24 November 2021.

“These acquisitions have contributed positively to 1Q 2022 distributable income”, said the REIT.

“UHREIT is well-positioned to remain resilient to the anticipated volatile market conditions resulting from increased inflation and the expected interest rate hikes”.

“Together with its healthy cash balances, remaining undrawn committed revolving credit facility and debt headroom, UHREIT has sufficient financial flexibility to prudently pursue new acquisitions and asset enhancement initiatives”, it added.

UHREIT was last done on the Singapore Exchange at USD0.61, which presently implies a distribution yield of 10% according to data on the Singapore REITs table.

By Shariffa Al-Habshee

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