United Hampshire US REIT (United Hampshire US REIT) revenues that could be paid fell 16.2% year-on-year to $25.49 million last year, and dividends per unit decreased by 15.2% to 4.06 cents (about 5.45 new points).

On the afternoon of Wednesday (February 19), Hampshire United Real Estate Trust released its second half of 2024 and its full-year results as of the end of December last year.

Performance shows that in the second half of fiscal year 2024, the dividend payout per unit of trust fell 4.2% year-on-year to 2.05 cents, and the payable income fell 6.8% to US$12.82 million; the total revenue was US$36.36 million, an increase of only 0.4% year-on-year. Net real estate revenue fell 1.6% to $24.44 million in the second half of the year. The trust said that the trust was at a disadvantage in terms of interest costs due to the conditions of the new interest rate swap, which affected the payable income.

Trust's total revenue for the whole year increased slightly by 1.4% year-on-year to US$73.22 million, and net real estate revenue fell by 1.7% year-on-year to US$49.81 million. The trust said the decrease in net real estate revenue was mainly due to temporary vacancy during the tenant replacement period, which caused some real estate expenditure to be recycled from tenants, and the real estate sold no longer contributed to the income.

As of December 31, 2024, the real estate occupancy rate for groceries and daily necessities in the trust's asset portfolio was 97.5%, and the real estate occupancy rate for self-storage and warehousing was 93.1%. The weighted average lease term (WALE) is 8.1 years, with a total leverage ratio of 38.9%, and a weighted average interest rate of 5.17%.

Further reading

Hampshire United Real Estate Trust can pay revenue drops by 24% in the first half of the year

Hampshire United Real Estate Trust can pay revenue drops by 24% in the first half of the year

Hampshire United Real Estate Trust acquires a shopping center in Montgomery County, Pennsylvania for $85.7 million

The Trust said in a statement Wednesday that the U.S. business and investment environment is relatively positive, but the Trump administration's policy direction remains uncertain, and these changes will affect inflation, interest rates and overall economic growth. “In this context, trust managers will maintain flexibility and enthusiasm, and continue to strengthen their revenue sources and balance sheets through asset optimization and development, value-added acquisitions and opportunity asset sales.”