Sun Residential REIT Delivers Solid Results, and Declares Q4 Distribution Payable December 29, 2023
Sun Residential REIT Delivers Solid Results, and Declares Q4 Distribution Payable December 29, 2023
Toronto, Ontario--(Newsfile Corp. - October 31, 2023) - Sun Residential Real Estate Investment Trust (TSXV: SRES) today released its financial results for the three and nine months ended September 30, 2023. All amounts are in United States dollars unless otherwise noted. "C$" refers to Canadian dollars.
安大略省多伦多-(Newsfile Corp.-2023年10月31日)-Sun Residential Real Estate Investment Trust(多伦多证券交易所股票代码：SRES)今天公布了截至2023年9月30日的三个月和九个月的财务业绩。除非另有说明，否则所有金额均以美元计价。“C$”指的是加元。
Revenue for the three months ended September 30, 2023, was $1,466,573, an increase of 4.5% compared with the same period in the prior year. Net rental income was $1,017,123, an increase of 10.2%, and net loss and comprehensive loss for the three months was a loss of $8,664,062, which includes a fair value adjustment to the investment property of $10,658,017.
截至2023年9月30日的三个月的收入为1,466,573美元，与去年同期相比增长了4.5%。净租金收入为1,017,123美元，增长10.2%，三个月的净亏损和综合亏损为亏损8,664,062美元，其中包括对投资物业10,658,017美元的公允价值调整。
Revenue for the nine months ended September 30, 2023, was $4,337,453, an increase of 7.2% compared with the same period in the prior year. Net rental income was $2,992,972, an increase of 7.4%, and net loss and comprehensive loss for the nine months was $7,558,189, which includes which includes a fair value adjustment to the investment property of $10,756,179.
截至2023年9月30日的9个月的收入为4,337,453美元，比去年同期增长7.2%。租金净收入为2,992,972美元，增长7.4%，首9个月的净亏损和综合亏损为7,558,189美元，其中包括对投资物业10,756,179美元的公允价值调整。
At September 30, 2023, Sun had total assets of $65.7 million (December 31, 2022 - $75.6 million), and cash and cash equivalents of $3.7 million (December 31, 2022 - $4.7 million). Working capital at September 30, 2023, was $4.4 million (December 31, 2022 - $4.6 million).
截至2023年9月30日，Sun的总资产为6570万美元(2022年12月31日至7560万美元)，现金及现金等价物为370万美元(2022年12月31日至470万美元)。截至2023年9月30日，营运资金为440万美元(2022年12月31日至460万美元)。
"Occupancy at Evergreen at Southwood, our flagship property in Tallahassee, was slightly softer during the quarter, consistent with general trends in the local market. Nonetheless, the asset continues to deliver solid financial performance and remains on track to generate consistent cash flow heading into year-end," said Robert C. Wetenhall Jr., Chief Executive Officer. "Separately, the opening of our development project is expected in mid-2024. Recent transactions for similar multifamily properties are encouraging in terms of supporting our view that SRES will be able to create substantial value upon stabilization of the project."
我们在塔拉哈西的旗舰物业索斯伍德的长荣酒店的入住率在本季度略有下降，这与当地市场的总体趋势一致。尽管如此，该资产继续提供稳健的财务表现，并在年底前仍将产生持续的现金流，“首席执行官小罗伯特·C·韦滕霍尔说。另外，我们的开发项目预计将于2024年年中开业。最近类似多户物业的交易令人鼓舞，这支持了我们的观点，即SRES将能够在项目稳定后创造大量价值。
Additional highlights (at September 30, 2023 or for the three months then ended, unless otherwise noted)
其他亮点(除非另有说明，在2023年9月30日或当时结束的三个月内)
- Weighted average occupancy for the quarter - 91% (Occupancy at quarter-end - 91%).
- Net operating income margin - 54%.
- FFO (funds from operations) - $207,547, an increase of 42% from the prior year.
- AFFO (adjusted funds from operations) - $177,958 an increase of 232% from the prior year.
- Quarterly distribution paid September 29, 2023, corresponds to 69% of FFO, and 80% of AFFO.
- Debt to gross book value - 48%.
- NAV (net asset value) per unit - $0.089 (approximately C$0.121).
- 本季度加权平均入住率-91%(季度末入住率-91%)。
- 净营业利润率-54%。
- FFO(业务资金)--207,547美元，比上年增长42%。
- AFFO(调整后的业务资金)--177,958美元，比上年增长232%。
- 2023年9月29日支付的季度分配相当于FFO的69%，AFFO的80%。
- 债务与账面价值之比为-48%。
- 每单位资产净值-0.089美元(约合0.121加元)。
A reconciliation to non-IFRS measures is set out below. For further information on the financial results as well as analysis of operational statistics, please refer to Sun's consolidated financial statements and its management's discussion and analysis for the period ended September 30, 2023, available on SEDAR at and on Sun's website at .
与非《国际财务报告准则》计量的对账如下。有关财务结果和经营统计分析的更多信息，请参阅Sun的综合财务报表及其管理层对截至2023年9月30日期间的讨论和分析，可在SEDAR和Sun的网站上查阅。
Quarterly distribution
季度分销
The Board of Trustees has approved a regular quarterly distribution of C$0.00095 (0.095 Canadian cents) per unit. This distribution will be paid December 29, 2023 to unitholders of record as of the close of business on December 14, 2023, and represents an annual rate of C$0.0038 (0.38 Canadian cents) per unit.
董事会已经批准了每单位0.00095加元(0.095加分)的定期季度分配。这一分配将于2023年12月29日支付给截至2023年12月14日收盘时登记在册的单位持有人，相当于每单位0.0038加元(0.38加分)的年利率。
Non-IFRS Financial Measures
非国际财务报告准则财务衡量标准
Weighted average leased rate, FFO, AFFO, rent collection, net operating income margin, NAV per unit and debt to gross book value are key measures of performance commonly used by real estate investment trusts. They are not measures recognized under International Financial Reporting Standards (IFRS) and do not have meanings prescribed by IFRS. Weighted average leased rate, FFO, AFFO, rent collection for September 2023, net operating income margin, NAV per unit and debt to gross book value as calculated by Sun may not be comparable to similar measures presented by other issuers. Please see the table below for reconciliations to IFRS measures.
加权平均租赁利率、FFO、AFFO、租金收取、净营业利润率、单位资产净值和债务与账面价值之比是房地产投资信托基金常用的关键业绩衡量标准。它们不是国际财务报告准则(IFRS)承认的衡量标准，也没有IFRS规定的含义。Sun计算的加权平均租赁利率、FFO、AFFO、2023年9月的租金收入、净营业利润率、单位资产净值和债务与账面总值之比可能无法与其他发行人提供的类似指标相比较。请参阅下表，了解与“国际财务报告准则”衡量标准的协调情况。
| Three months ended | Nine months ended | ||||||||||||
| September 30 | September 30 | ||||||||||||
| 2023 | 2022 | 2023 | 2022 | ||||||||||
| Net income (loss) attributable to unitholders | |||||||||||||
| unitholders | $ | (3,801,441) | $ | 132,718 | $ |
(3,342,992) | $ | 503,638 | |||||
| Adjustments to arrive at FFO | |||||||||||||
| Fair value adjustment to | |||||||||||||
| investment properties | 10,658,017 | 181,714 | 10,756,179 | 191,866 | |||||||||
| Realty taxes not accounted for under | |||||||||||||
| IFRIC 21 | (217,800) | (190,200) | (653,400) | (570,600) | |||||||||
| Non-controlling interest | (5,115,706) | 4,158 | (4,950,362) | 185,580 | |||||||||
| Deferred income taxes | (1,323,819) | 9,922 | (1,234,829) | 106,047 | |||||||||
| Loss (gain) on foreign currency translation | 8,296 | 7,898 | (63) | 4,081 | |||||||||
| Funds from operations (FFO) | 207,547 | 146,210 | 574,533 | 420,612 | |||||||||
| Adjustments to arrive at AFFO | |||||||||||||
| Capital expenditures | (58,017) | (181,714) | (156,179) | (191,866) | |||||||||
| Non-controlling interest | 28,428 | 89,040 | 76,528 | 94,014 | |||||||||
| Adjusted funds from operations (AFFO) | $ | 177,958 | $ | 53,536 | $ |
494,882 | $ | 322,760 | |||||
| Weighted average number of units | 203,338,999 | 203,338,999 | 203,338,999 | 203,338,999 | |||||||||
| FFO per unit | $ | 0.0010 | $ | 0.0007 | $ |
0.0028 | $ | 0.0021 | |||||
| AFFO per unit | $ | 0.0009 | $ | 0.0003 | $ |
0.0024 | $ | 0.0016 | |||||
|
September 30, 2023 | December 31, 2022 | ||||||||||||
| Unitholder equity | 18,170,075 | 21,801,627 | |||||||||||
| NAV per unt | 0.089 | $ | 0.107 | ||||||||||
| NAV per unt (C$) | 0.121 | $ | 0.144 | ||||||||||
| 截至三个月 | 九个月结束 | ||||||||||||
| 9月30日 | 9月30日 | ||||||||||||
| 2023年 | 2022 | 2023年 | 2022 | ||||||||||
| 单位持有人应占净收益(亏损) | |||||||||||||
| 单位持有人 | $ | (3,801,441) | $ | 132,718 | $ |
(3,342,992) | $ | 503,638 | |||||
| 调整以达到FFO | |||||||||||||
| 公允价值调整至 | |||||||||||||
| 投资物业 | 10,658,017 | 181,714 | 10,756,179 | 191,866 | |||||||||
| 房地产税未计入 | |||||||||||||
| IFRIC 21 | (217,800) | (190,200) | (653,400) | (570,600) | |||||||||
| 非控制性权益 | (5,115,706) | 4,158 | (4,950,362) | 185,580 | |||||||||
| 递延所得税 | (1,323,819) | 9922 | (1234,829) | 106,047 | |||||||||
| 外币折算损失(收益) | 8,296 | 7898 | (63) | 4081 | |||||||||
| 运营资金(FFO) | 207,547 | 146,210 | 574,533 | 420,612 | |||||||||
| 调整以达到AFFO | |||||||||||||
| 资本支出 | (58,017) | (181,714) | (156,179) | (191,866) | |||||||||
| 非控制性权益 | 28,428 | 89,040 | 76,528 | 94,014 | |||||||||
| 调整后的运营资金(AFFO) | $ | 177,958 | $ | 53,536 | $ |
494,882 | $ | 322,760 | |||||
| 加权平均单位数 | 203,338,999 | 203,338,999 | 203,338,999 | 203,338,999 | |||||||||
| 每单位FFO | $ | 0.0010 | $ | 0.0007 | $ |
0.0028 | $ | 0.0021 | |||||
| 单位AFFO | $ | 0.0009 | $ | 0.0003 | $ |
0.0024 | $ | 0.0016 | |||||
|
2023年9月30日 | 2022年12月31日 | ||||||||||||
| 单位持有人权益 | 18,170,075 | 21,801,627 | |||||||||||
| 每单位净资产净值 | 0.089 | $ | 0.107 | ||||||||||
| 每单位净资产净值(C$) | 0.121 | $ | 0.144 | ||||||||||
About Sun Residential REIT
关于Sun Residential REIT
Sun Residential Real Estate Investment Trust is an unincorporated open-ended real estate investment trust established pursuant to a declaration of trust dated January 22, 2019, as amended and restated on March 22, 2019 and November 4, 2020. The business of Sun is to acquire multi-family residential properties in the Sunbelt region of the United States.
太阳住宅房地产投资信托是根据2019年1月22日的信托声明成立的非法人地位的开放式房地产投资信托，该声明于2019年3月22日和2020年11月4日进行了修订和重述。Sun的业务是收购美国SunBelt地区的多户住宅物业。
Caution regarding forward-looking statements
有关前瞻性陈述的注意事项
Forward-looking statements in this news release, including the timing of the development of the Cape Coral property, and elsewhere reflect Sun's current assumptions, expectations, and projections. Often, but not always, forward‐looking statements can be identified by words such as "planned," "expected, "anticipated," "our view," or "believes," or variations of such words and phrases or state that certain actions, events, or results "may," "could," "would," "might," "should," or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Sun's actual results or achievements to be materially different from those expressed or implied by the forward-looking statements. The forward-looking statements made in this news release relate only to events or information as of the date hereof. All forward-looking statements are based on assumptions that may prove to be incorrect. Furthermore, forward-looking statements are qualified in their entirety by the inherent risks, uncertainties and changes in circumstances surrounding future expectations that are difficult to predict and mostly beyond the control of Sun.
本新闻稿中的前瞻性陈述，包括开发珊瑚角地产的时间以及其他方面，反映了太阳公司目前的假设、预期和预测。通常，但并非总是，前瞻性陈述可以通过“计划的”、“预期的”、“预期的”、“我们的观点”或“相信”等词语或这些词语和短语的变体来识别，或陈述某些行动、事件或结果“可能”、“可能”、“将”、“可能”、“应该”或“将”被采取、发生或实现。前瞻性陈述涉及已知和未知的风险、不确定因素和其他因素，这些风险、不确定性和其他因素可能会导致太阳公司的实际结果或成就与前瞻性陈述中明示或暗示的大不相同。本新闻稿中的前瞻性陈述仅涉及截至本新闻稿发布之日的事件或信息。所有前瞻性陈述都是基于可能被证明是不正确的假设。此外，前瞻性陈述整体上受到围绕未来预期的固有风险、不确定性和环境变化的限制，这些风险、不确定因素和环境变化很难预测，而且大多超出了太阳公司的控制范围。
Except as specifically required by Canadian securities law, Sun undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Many factors will cause actual results to differ, perhaps materially, from results in the forward-looking statements: for a description of such factors please refer to the Management's Discussion and Analysis for the three months ended September 30, 2023 available at or at .
除非加拿大证券法特别要求，否则太阳微电子没有义务公开更新或修改任何前瞻性陈述，无论是由于新信息、未来事件还是其他原因。许多因素会导致实际结果与前瞻性陈述中的结果大不相同：有关这些因素的描述，请参阅管理层关于截至2023年9月30日的三个月的讨论和分析，可在或在。
For further information, please contact:
如需更多信息，请联系：
Robert C. Wetenhall Jr.
Chief Executive Officer
rwetenhall@sunresreit.com
小罗伯特·C·韦登霍尔
首席执行官
邮箱：rweetenall@sunresreit.com
Jeffrey D. Sherman,
Chief Financial Officer
jsherman@sunresreit.com
(416) 214-2228
杰弗里·D·谢尔曼
首席财务官
邮箱：jsherman@sunresreit.com
(416)214-2228
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
多伦多证券交易所创业板交易所及其监管服务提供商(该术语在多伦多证券交易所的政策中定义)均不对本新闻稿的充分性或准确性承担责任。
To view the source version of this press release, please visit
要查看本新闻稿的源版本，请访问