- 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
Previous report by DBS:
2024-02-16 Prime US REIT - Potential Domino Effect; Downgrade To FULLY VALUED.
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
