UOB Kay Hian analyst Jonathan Koh says United Hampshire US REIT’s 1QFY2021 ended March results were in line with his expectations.

To that end, he has kept his “buy’ call and target price of 95 US cents for the counter unchanged.

He highlights that the REIT’s reported distributable income of US$7.6 million ($10.1 million) for the 1QFY2021 was underpinned by a resiliency anchored to necessity consumption at supermarkets and home improvement stores. Key tenants such as Walmart, Lowe’s and The Home Depot, which recorded strong sales growth, contributed to the REIT’s stable occupancy at 93.9%.

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