Prime US REIT - Phillip Securities 2026-05-14: Steady Growth In Occupancy

• Prime US REIT (SGX:OXMU)'s 1Q26 NPI and DI declined 2.8% and 22.6% y-o-y to US$17.2mil and US$6.4mil, respectively, in line with expectations and forming 24% and 23% of our FY26e forecasts. The decline was due to lease expiries and rent-free periods associated with newly signed leases.
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• Assuming a 65% payout ratio in FY26e, the current Prime US REIT's share price implies a DPU yield of 7.3%.

The Positive

Improving portfolio fundamentals

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• With 11% of occupancy staggered to commence cash rentals from 3Q26 and only 5.4% of leases by rental income due for renewal in FY26, Prime US REIT is well-positioned to deliver higher cash rental income and improved earnings visibility going forward.

The Negative

Expect all-in interest costs to edge up

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Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Previous report by Phillip:
2026-02-16 Prime US REIT - Higher Payout Ratio Backed By Cash Flow Visibility.

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