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United Hampshire US Reit eyes growth of recession-proof portfolio to trump headwinds

UHREIT’s battered valuation translates into one of the highest distribution yields in the S-Reit universe. But the Reit manager – and analysts – believe this is “not justified”.

Jude Chan

Published Mon, Jun 13, 2022 · 05:50 AM

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ROBERT Schmitt, chief executive officer of the manager of United Hampshire US Real Estate Investment Trust (UHREIT), is in a bit of a pickle.

Operationally, the Singapore-listed real estate investment trust (S-Reit) has remained resilient through the pandemic and performed better than expected.

For the full year ended December 2021, UHREIT posted distributable income (DI) of US$31.2 million, beating its initial public offering (IPO) forecast by 3 per cent.

FY2021 distribution per unit (DPU) inched up to US$0.061 – a whisker above the forecast of US$0.0609 made prior to the pandemic.

Net property income (NP…