Prime US REIT - DBS Research 2024-02-23: Different, Yet The Same

Prime US REIT - Different, Yet The Same

Published:
Prime US REIT (SGX:OXMU) | SGinvestors.ioPrime US REIT (SGX:OXMU)
  • Prime US REIT (SGX:OXMU) declared 2H23 DPU of US$0.0025 (10% of distributable income) vs US$0.0303 in 2H22, owing to capital preservation needs. In addition, it has declared a bonus share issue of 1 for 10 which translates to US$0.0103 (based on last traded share price on 20 Feb 2024).
  • - Read this at SGinvestors.io -

FY23 Distributable Income (DI) in line

  • FY23 distributable income fell 18%, in line with our estimates, largely due to Prime US REIT raising management fees paid in cash from 20% to 100% and higher interest cost. 4Q23 distributable income fell 6% q-o-q to US$13.9m.
  • - Read this at SGinvestors.io -
  • Prime US REIT's gearing increased to 48.4% from 43.7% in 3Q23 as portfolio valuation declined by 9% y-o-y. Average cost of debt stayed flat q-o-q at 4%.

Asset values holding up better-than-expected

  • Read more at SGinvestors.io.




Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.




Rachel TAN DBS Group Research | Derek TAN DBS Research | https://www.dbs.com/insightsdirect/ 2024-02-23



Read also DBS's most recent report:
2024-08-14 Prime US REIT - The Tide Is Turning.

Price targets by 3 other brokers at Prime US REIT Target Prices.

Listing of research reports at Prime US REIT Analyst Reports.

Relevant links:
Prime US REIT Share Price History,
Prime US REIT Announcements,
Prime US REIT Dividends & Corporate Actions,
Prime US REIT News Articles





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