Sunday, September 7, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Technology

United Hampshire US Reit Q3 distributable income falls 14.6% to US$6 million

by Riah Marton
in Technology
United Hampshire US Reit Q3 distributable income falls 14.6% to US million
Share on FacebookShare on Twitter


UNITED Hampshire US Reit’s distributable income for the third quarter ended Sep 30 declined 14.6 per cent to US$6 million, from US$7.1 million in the previous corresponding period.

The real estate investment trust’s (Reit) net property income fell 6.7 per cent to US$12 million from US$12.9 million. Revenue slipped 2.9 per cent to US$17.9 million from US$18.4 million in the year-ago period.

On Friday (Nov 8), the Reit’s manager said in a business update that the decline comes amid lower recoveries due to decreased occupancy, higher interest costs as well as absent contributions from divested properties.

The Reit divested two freestanding retail properties that were leased and occupied by hardware store company Lowe’s and warehouse store company Sam’s Club in August 2023 and this year, respectively.

For the nine-month period, distributable income was down 15.1 per cent on the year to US$18.7 million. Net property income declined 3.4 per cent to US$37.4 million.

Revenue, however, rose 0.6 per cent to US$54.7 million. This comes amid new leases and rental escalations from existing leases, as well as contributions from a new sports store.

BT in your inbox

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

United Hampshire US Reit’s weighted average lease expiry (Wale) stood at 7.9 years for its grocery and necessity properties, including forward committed leases. Excluding these leases, Wale was 7.8 years as at Sep 30.

The Reit has an aggregate leverage of 39.9 per cent as at end-September and an interest coverage ratio of 2.5 times.

The manager said the Reit has no refinancing requirements until November 2026, after renewing the loan for shopping mall Arundel Plaza in February this year.

Looking ahead, the manager is cautious of market volatility caused by geopolitical headwinds and macroeconomic uncertainty.

But it added that it will remain focused on strengthening the Reit’s income streams and balance sheet, optimising the portfolio through potential acquisitions and undertaking upgrading projects for existing assets, among other means.

Units of United Hampshire US Reit closed 1.1 per cent or US$0.005 higher at US$0.46 on Thursday.

Tags: distributableFallsHampshireIncomeMillionReitUnitedUS6
Riah Marton

Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

Next Post
Singtel-owned Optus fined A million by Australian regulator over emergency services outage

Singtel-owned Optus fined A$12 million by Australian regulator over emergency services outage

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2025 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In