HSBC Global Research is keeping its “buy” recommendation on United Hampshire US REIT (UHU) with an unchanged target price of 85 US cents.
This comes on the back of the REIT’s maiden acquisition of two grocery anchored assets for US$78.2 million – Penrose Plaza in Philadelphia for US$52.0 million and Colonial Square in Virginia for US$26.25 million. Both properties imply an NPI yield of 6.7% and 6.1% respectively.
See: United Hampshire US REIT acquires two grocery assets for US$78.25 mil; launches private placement to raise US$30 mil
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