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StockTalk(8.7): ELITE Commercial REIT (MXNU) reports decline in DPU for H1 2023
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$EliteUKREIT GBP (MXNU.SG)$ reported a decline in distribution per unit (DPU) for H1 2023, with a 32% drop compared to the previous year. Higher finance costs and property expenses contributed to this decrease.
Despite the decline, the REIT retained 10% of distributable income to strengthen its financial position and mitigate risks. Gross revenue increased 3.4% to £19.1 million, primarily due to rent escalation, while net property income rose 10.5% to £20.0 million. The REIT's occupancy rate stood at 92.1%. Additionally, the manager announced the sale of two properties at a premium to book value, aiming to reduce borrowing costs and holding expenses. The REIT's gearing improved to 46%, and strategic capital recycling is planned to minimize gearing further.
Do you hold MXNU in your portfolio? Are you paying attention to the financial performance of REITs? Or do you have other indicators that guide your investment decisions?
In light of the challenges ELITE Commercial REIT faces, do you see any potential opportunities or risks for investors in the current market?
In light of the challenges ELITE Commercial REIT faces, do you see any potential opportunities or risks for investors in the current market?
Join us and share your thoughts on today's topic. Please leave a comment below to share your opinion with us. Your feedback is valuable, and we appreciate your participation.
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Moomoo SG OP :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Are you paying attention to the financial performance of REITs?
Join us and share your thoughts on today's topic!
Buy n Die Together❤ : Currently didn't hold any reits position but still monitoring some. Everyday stare at some reits eg Suntec but most look like dead fish not moving. I stare at that fish and that fish stare at me like want to fight. Confuse...![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
ZnWC : I didn't hold MXNU in my portfolio but I do own other REIT stocks. I take long position and earn dividends so financial performance of REIT will reflect the fundamental of the company and REIT stock performance as a whole.
MXNU blames the decline in Distribution Per Unit (DPU) to higher finance costs and property operating expenses. I think it's partly due to inflation and rental remains strong reflecting that housing demand is still high. I am not worried about the macroeconomics factors that affect REIT but it does not help to take extra measures to diversify my portfolio in case recession comes.
snoopy123 Buy n Die Together❤ : you keep staring won't fight also can get headache... once in a while beo whether swee or not can already..![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Buy n Die Together❤ snoopy123 :
taichimaster : I have relatively large position in Elite. Think will hold. Their management seems sound, and high interest rates may not extend too long. Steady tenants and smart divestments. It’s a buy for me.