United Hampshire US REIT (UHREIT) has published its results for the second half and full year of 2024. This comes against a backdrop of persistent inflation and increasing interest rates, which have inevitably pushed up financing costs. As someone with considerable investment in UHREIT, I’ve been closely tracking its performance. The past three years have admittedly been disappointing, with both the market price of UHREIT and its distributable income in a steady decline. However, there’s a silver lining—its latest balance sheet shows some resilience, with a lower aggregate leverage ratio now at 38.9%. This is quite noteworthy, especially when you consider that it was previously hovering above 42%. Here’s a quick overview of the financial performance from FY2022 to FY2024.
In 2023, compared to 2022, we saw a notable increase in financing costs, which adversely impacted the overall results for 2023.
