UOB Kay Hian analyst Jonathan Koh maintains his ‘buy’ rating on United Hampshire US REIT with a higher target price of 95 US cents ($1.26) from 92 US cents previously, citing the resiliency of its grocery and necessity retail properties, high rental collections (at 98.9%), and higher demand for self-storage facilities.

The REIT’s 2HFY2020 results were in line with Koh’s expectations, with a distribution per unit (DPU) of 3.03 US cents, 1.3% above its IPO forecast. The better DPU comes despite lower than forecasted revenue for the period caused by a slowdown in leasing activities because of Covid-19 and a delay in the opening of the Perth Amboy self-storage facility. 

SEE:United Hampshire US REIT posts 2H20 DPU of 3.03 US cents, 1.3% above IPO forecast

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