Broker Name: KGI Securities (Singapore) Pte. Ltd.
Date of Report: March 6, 2026
Excerpt from KGI Securities (Singapore) Pte. Ltd. report.
- Report Summary
- United Hampshire US REIT (UHU REIT) delivered its third consecutive semi-annual DPU increase in 2H25, with FY25 distributable income up 5.7% year-on-year, despite a slight dip in revenue due to property divestments. Portfolio value rose for the fifth straight year, with strong occupancy (97.7%) and long WALE (7.7 years) in its core grocery-anchored properties.
- Strategic capital recycling continued, with recent accretive acquisitions (Dover Marketplace and Wallingford Fair) at discounts to valuation, funded by divestments at premiums. Early refinancing of US\$350mn term loan extended debt maturity and removed a key risk, lowering UHU REIT’s cost of equity to 8.1%. The REIT’s defensive portfolio, high tenant retention, and exposure to necessity retail position it to benefit from supportive US economic trends and easing interest rates.
Above is an excerpt from a report by KGI Securities (Singapore) Pte. Ltd. Clients of KGI Securities can be the first to access the full report from the KGI Securities website: https://www.kgi.com.sg
