UHREIT reveals lower DPU YoY in H1

The retention of a property led to a lower DPU in the first half (H1) of 2023.

The United Hampshire US Reit (UHREIT) posted a distribution per unit of US 2.65 cents in H1 2023, 8.9% lower than the US 2.91 cents in H1 2023.

This DPU could be retained to US 2.91 cents, excluding the retention, UHREIT also noted.

Its gross revenue, fortunately, grew 13.3% in H1 2023 to $48m (US$ 36m) whilst its net property income also increased by 14% to $34.9m (US$ 25.8m) in H1 2023.

The rise in earnings was on the back of newly entered leases and rental escalation from existing leases and contributions from Upland Square Shopping Center which was acquired in July 2022.

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