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

• 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 an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-02-21 Prime US REIT - Farming For The Future Harvest.

Previous report by DBS:
2024-08-14 Prime US REIT - The Tide Is Turning.

Price targets by 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 Dividend Payout Dates & Corporate Actions,
Prime US REIT News