United Hampshire US REIT - Had the opportunity to meet up with Ms. Wong Siew Lu - Head of Investor Relations and Sustainability to know more about this listed US reit counter on the Singapore Exchange (ODBU.SI).
Siew Lu is a very friendly and nice person.
United Hampshire US REIT total portfolio assets value of about US747m. Occupancy rate is about 97.2%. First Half Dpu of 2.09 cents. Gearing 38.9%. Wale 7.6 years. Yield is more than 8%. NAV 0.74.
Current price is 0.50.
Next refinancing will only happen in Nov 2026 which is more than a year to go that may give them the opportunity to refinance at a much lower borrowing costs.
Stable revenue and fees structure whereby tenants needs to foot their own bills for electricity, water, car parks and the rental space.
A portfolio of 22 high-quality properties located along the east coast of the U.S., consisting of 20 grocery-anchored and necessity-based retail properties1, and two modern, climate-controlled self-storage properties
Locally, when we think about buying groceries stuff, usually, we will go to Fairprice, Sheng Siong, Giant , Cold storage or Fairprice Finest. In USA, they will head down to Walmart, Home Depot , Kroger, Costco , Safeway, Alberstons etc.
United Hampshire US REIT's latest acquisition, completed on August 1, 2025, is Dover Marketplace, a freehold grocery-anchored shopping centre in Dover, Pennsylvania. The REIT acquired the property for US$16.4 million to expand its grocery-anchored portfolio and strengthen its presence in the US Northeast markets. The property is anchored by the supermarket operator The GIANT Company and includes other tenants like M&T Bank and Subway. occupancy rate of 96.1 per cent, it has a total of nine tenants, comprising its anchor tenant, supermarket operator Giant, and a diverse mix of other tenants, including Fortune 500 company M&T Bank and global fast-food chain Subway.
Giant, which has a long-term lease at the property, has been its anchor tenant for nearly 25 years.
Chart wise, it had managed to bounce-off from 44 cents to trade Currently at 50 cents, looks rather interesting! IPO price was 80 cents in Year 2020.
At the moment, she is trading in a consolidation mode price patterns and may wait for next catalyst to drive the price higher!
It is a slow and dividend play counter!
The tenant agreement usually signed for 5 years min period with build-in rental reversion.
The tenants consisting of big players like Walmart, Home Depot,Giant etc of which is quite stable and resilient!
The self-storage properties is like a warehouse storage facility that allows people to store their stuffs there or people storing their households stuff for moving to another states to work. The demands is not bad. Currently is about 92% occupancy rate.
Below is the distribution history being paid out since year 2020 to 2025 August. They payout DPU half yearly basis.
With the past years dividend collected, those vested since IPO if inclusive of dividend collected, their principal amount is slightly profitable! I guess is still not too bad!
Not a call to buy or sell!
Pls dyodd.
Went to Mensho Tokyo SG, 3rd floor, Raffles City for very nice Ramen. Nom nom.
No comments:
Post a Comment