United Hampshire US REIT (SGX:ODBU
) (UHREIT) has reported a higher distribution per unit (DPU) of 4.39 US cents for FY2025 ended Dec 31,2025, which represent an 8.1% y-o-y increase.
For 2HFY2025, DPU was up by 12.1% y-o-y to 2.30 US cents.
UHREIT’s distributable income for FY2025 came in 5.7% y-o-y higher at US$26.9 million, an increase from the US$25.5 million in the same period a year ago.
Gross revenue for FY2025 was at US$72.0 million, representing a decline of 1.7% y-o-y from US$73.2 million in FY2024.
Meanwhile, net property income for FY2025 decreased by 1.7% y-o-y to US$49.0 million.
The lower gross revenue and net property income was a result of the absence of contributions from Lowe’s Building and Sam’s Club Building at Hudson Valley Plaza and Albany Supermarket, which were divested in Aug 2024 and Jan 2025, respectively.
See also: UOI’s core net profit rises 8%, proposes final dividend per share of 19.5 cents for FY2025
In FY2025, UHREIT secured 30 new and renewal leases within its Grocery & Necessity portfolio, totalling 422,032 sq ft with tenants ranging from Walmart, Dollar Tree, HomeGoods, Florida Blue to M&T Bank.
As at Dec 31, 2025, UHREIT’s Grocery & Necessity portfolio recorded a committed occupancy rate of 97.7% and a weighted average lease expiry (WALE) of 7.7 years.
Lease expiry profile remained at 2.9% and 5.6% of leases expiring in FY2026 and FY2027, respectively.
See also: ComfortDelGro’s subsidiary Vicom reports 45.1% y-o-y growth in earnings for FY2025 of $42.5 mil
On the other hand, occupancy rate for both UHREIT’s self storage properties, Carteret and Millburn, stood at 85.9% and 91.2%, respectively as at Dec 31, 2025.
The REIT’s aggregate leverage stood at 38.6% as at Dec 31, 2025. Following the recent refinancing exercise in Nov 2025, its weighted average debt maturity extended from 1.6 years to 3.4 years, with no refinancing requirements until Feb 2028.
Weighted average interest rate for the trailing 12-month period stood at 5.01% while interest coverage ratio stands at 2.4 times.
UHREIT’s portfolio valuation as at Dec 31, 2025 increased by 3.8% y-o-y to US$774.3 million.
“The two yield-accretive acquisitions of Dover Marketplace and Wallingford Fair Shopping Center, completed in Aug 2025 and Jan 2026 respectively, are expected to further strengthen our portfolio’s income and resilience,” says Gerard Yuen, CEO of the manager.
Looking ahead, the manager will continue to explore value enhancing accretive acquisitions that improve the overall attractiveness and income resilience of the portfolio.
Units in UHREIT closed flat at 55.5 US cents on Feb 19. Based on the FY2025’s DPU of 4.39 US cents, the distribution yield amounts to 7.91%.
