Data from SF REIT’s latest results is in the Hong Kong REITs table
SF REIT reported on 17 August that its total revenue and net property income for 1H 2023 came in at HKD223.6 million and HKD180.7 million respectively.
These represent increases of 13.2% and 11.8% respectively.
Meanwhile, total distributable income for the period amounted to HKD117.1 million.
With that, the REIT’s board has declared a distribution of HKD14.64 cents per unit, which represents a 7.1% increase year-on-year.
“SF REIT has been growing since its listing in May 2021 by implementing clear strategies through acquisitions and organic growth”, said Hubert Chak, Executive Director and CEO of SF REIT’s manager.
“Despite the many challenges we faced in the period, SF REIT continued to deliver solid performance due to proactive leasing strategies and prudent financial management”, he added.
“The post-pandemic shift in demand for efficient and reliable logistics services has played a vital role in driving the continued growth of the logistics industry”.
“SF REIT possesses a portfolio of quality and strategically located assets and a strong partnership with our anchor tenant, the SFH Group”.
“With these advantages, the REIT manager will continue to manage SF REIT in a disciplined manner and will seize acquisition opportunities when appropriate to deliver sustainable returns to unitholders”, Chak added.
SF REIT was last done on the HKSE at HKD2.71, which presently implies a distribution yield of 10.8% according to data on the Hong Kong REITs table.