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PhillipCapital and UOB KayHian maintaining ‘buy’ on United Hampshire US REIT following recent FY2025 results

Teo Zheng Long
Teo Zheng Long • 3 min read
PhillipCapital and UOB KayHian maintaining ‘buy’ on United Hampshire US REIT following recent FY2025 results
Jonathan Koh of UOB KayHian sees UHREIT “pulling multiple levers” such as asset recycling, accretive acquisitions and asset enhancement initiatives (AEI) to drive sustainable growth. Photo: UHREIT
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Both PhillipCapital and UOB KayHian are keeping their respective “buy” calls on United Hampshire US REIT (SGX:ODBU) (UHREIT) following its recent FY2025 results.

In his Feb 23 report, Darren Chan of PhillipCapital highlighted that UHREIT’s 2HFY2025 and FY2025 distribution per unit (DPU) of 2.30 US cents and 4.39 US cents, which was up 12.2% and 8.1% y-o-y respectively, formed 54% and 103% of his FY2025 forecast.

“Growth was driven by new lease commencements, contributions from Dover Marketplace (acquired in Aug 2025), rental escalations on existing leases, and lower finance costs,” states Chan.

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