Sun Residential REIT Reports Excellent Results - And Announces Investor Conference Call on February 15
Sun Residential REIT Reports Excellent Results - And Announces Investor Conference Call on February 15
Toronto, Ontario--(Newsfile Corp. - February 8, 2022) - Sun Residential Real Estate Investment Trust (TSXV: SRES) today released its financial results for the three months and year ended December 31, 2021. All amounts are in United States dollars, unless shown as C$ which refers to Canadian dollars.
安大略省多倫多-(Newsfile Corp.-2022年2月8日)-Sun Residential Real Estate Investment Trust(多倫多證券交易所股票代碼：SRES)今天公佈了截至2021年12月31日的三個月和一年的財務業績。所有金額均以美元計算，除非顯示為C$(指加元)。
Revenue for the three months ended December 31, 2021 was $1,296,918 (same period, prior year - $1,178,338), net rental income was $213,355 (prior year - $322,806), and the net income was $5,622,213 (prior year - loss of $11,669). Net income reflects a fair value increase in the investment property of $6,617,000 before taxes.
截至2021年12月31日的三個月的收入為1,296,918美元(上年同期-1,178,338美元)，淨租金收入為213,355美元(上年-322,806美元)，淨收入為5,622,213美元(上年同期-虧損11,669美元)。淨收入反映投資物業税前公平價值增加6,617,000美元。
Revenue for the year ended December 31, 2021 was $4,946,475 (same period, prior year - $4,356,819), net rental income was $2,868,457 (prior year - $2,477,207), and the net income was $12,121,413 (prior year - $234,660). Net income reflects a fair value increase in the investment property of $12,432,980, before taxes.
截至2021年12月31日的一年收入為4,946,475美元(上年同期-4,356,819美元)，淨租金收入為2,868,457美元(上年-2,477,207美元)，淨收入為12,121,413美元(上年-234,660美元)。淨收入反映投資物業税前公允價值增加12,432,980美元。
At December 31, 2021, Sun had total assets of $69.7 million (December 31, 2020 - $56.6 million), and cash and cash equivalents of $4.5 million (December 31, 2020 - $3.9 million). Working capital at December 31, 2021 was $4.5 million (December 31, 2020 - $3.8 million).
截至2021年12月31日，Sun的總資產為6970萬美元(2020年12月31日至5660萬美元)，現金及現金等價物為450萬美元(2020年12月31日至390萬美元)。截至2021年12月31日的營運資金為450萬美元(2020年12月31日-380萬美元)。
"Our property continues to perform very well; property management has been doing an outstanding job despite the challenges that have arisen from the pandemic," said Gordon Wiebe, CEO of Sun.
Sun首席執行官戈登·維貝(Gordon Wiebe)表示：“我們的酒店繼續表現良好；儘管疫情帶來了挑戰，但物業管理一直做得很出色。”
Highlights (at December 31, 2021 unless otherwise noted)
亮點(除非另有説明，截止日期為2021年12月31日)
- Weighted average occupancy rate - 96%.
- FFO (funds from operations) for three months ended December 31, 2021 - $131,522 (same period, prior year - $122,567).
- FFO (funds from operations) for year ended December 31, 2021 - $480,998 (same period, prior year - $159,322).
- AFFO (adjusted funds from operations) for three months ended December 31, 2021 - $131,522 (same period, prior year - $109,604).
- AFFO (adjusted funds from operations) for year ended December 31, 2021 - $472,318 (same period, prior year - $146,359).
- Rent collection for December 2021 - approximately 99%
- Lease renewals for three months ended December 31, 2021 at an average rent increase of 10%.
- Net operating income margin (year ended December 31, 2021) - 58%
- Debt to gross book value - 45%
- Net asset value (NAV) per unit at December 31, 2021 - $0.10 or C$0.12
- 加權平均入住率-96%。
- 截至2021年12月31日的三個月的FFO(運營資金)-131,522美元(上年同期-122,567美元)。
- 截至2021年12月31日的年度的FFO(運營資金)-480,998美元(上年同期-159,322美元)。
- 截至2021年12月31日的三個月的AFFO(調整後的運營資金)-131,522美元(上年同期-109,604美元)。
- 截至2021年12月31日的年度的AFFO(調整後的運營資金)-472,318美元(上年同期-146,359美元)。
- 2021年12月收租-約99%
- 續租截至2021年12月31日的三個月，平均租金上漲10%。
- 淨營業利潤率(截至2021年12月31日的年度)-58%
- 債務與賬面總值之比-45%
- 2021年12月31日的單位資產淨值(NAV)-0.10美元或0.12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 year ended December 31, 2021, available on SEDAR at and on Sun's website at .
與非“國際財務報告準則”衡量標準的對賬如下。有關財務結果和運營統計分析的更多信息，請參閲Sun的合併財務報表及其管理層對截至2021年12月31日的年度的討論和分析，可在SEDAR和Sun的網站上查閲。
Conference Call
Interested parties are invited to participate in a Zoom call with management on Tuesday February 15, 2022, 4:00 p.m. ET, to review the results. To participate or listen to the call, please click on this link:
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Meeting ID: 833 1009 4601, Passcode: 810887, 438 809 7799 or 647 374 4685.
電話會議
感興趣的各方受邀參加2022年2月15日(星期二)下午4：00與管理層舉行的Zoom電話會議。ET，以回顧結果。要參與或收聽電話會議，請單擊此鏈接：
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會議ID：83310094601，密碼：810887,4388097799或6473744685。
Non-IFRS Financial Measures
非國際財務報告準則財務衡量標準
Weighted average occupancy rate, FFO, AFFO, rent collections, net operating income margin 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 standardized meanings prescribed by IFRS. Weighted average occupancy rate, FFO, AFFO, rent collection for September 2021, net operating income margin and debt to gross book value as calculated by Sun may not be comparable to similar measures presented by other issuers. Please refer to Sun's Management's Discussion and Analysis for the year ended December 31, 2021 for reconciliations to standardized IFRS measures. Net asset value (NAV) per unit is calculated by dividing unitholders' equity of $19,461,725 by 203,338,999, converted to C$ at a rate of 1.25. NAV is a non-GAAP measure that represents management's view of the intrinsic value of Sun. However, it is not defined by IFRS and may not be comparable to similar measures presented by other issuers.
加權平均入住率、FFO、AFFO、租金收入、淨營業利潤率和債務與賬面總值之比是房地產投資信託基金常用的關鍵業績衡量標準。它們不是國際財務報告準則(IFRS)承認的衡量標準，也沒有IFRS規定的標準化含義。Sun計算的加權平均入住率、FFO、AFFO、2021年9月的租金徵收、淨營業收入利潤率和債務與賬面總值之比可能無法與其他發行人提供的類似指標相比較。請參閲Sun管理層對截至2021年12月31日的年度的討論和分析，以瞭解與國際財務報告準則標準化衡量標準的對賬情況。單位資產淨值(NAV)的計算方法是單位持有人權益19,461,725美元除以203,338,999加元，折算成加元的匯率為1.25。資產淨值是一種非GAAP衡量標準，代表管理層對Sun內在價值的看法。然而，它不是國際財務報告準則的定義，可能無法與其他發行人提出的類似措施相提並論。
| Three months ended | Year ended | ||||||||||||||
| December 31, 2021 | December 31, 2020 | December 31, 2021 | December 31, 2020 | ||||||||||||
| Net income attributable to: | |||||||||||||||
| Unitholders of the Trust | $ | 2,413,921 | $ | (50,041 | ) | $ | 5,173,518 | $ | (181,044 | ) | |||||
| Non-controlling interest | 3,208,292 | 38,372 | 6,947,895 | 415,704 | |||||||||||
| Net income (loss) | $ | 5,622,213 | $ | (11,669 | ) | $ | 12,121,413 | $ | 234,660 | ||||||
| Net income (loss) attributable to | |||||||||||||||
| unitholders | $ | 2,413,921 | $ | (50,041 | ) | $ | 5,173,518 | $ | (181,044 | ) | |||||
| Fair value loss (gain) on | |||||||||||||||
| investment property | (6,617,000 | ) | (38,322 | ) | (12,432,980 | ) | 586,703 | ||||||||
| Realty taxes not accounted | |||||||||||||||
| under IFRIC21 | 572,400 | 392,400 | - | - | |||||||||||
| Non-controlling interest | 2,961,854 | (173,498 | ) | 6,092,160 | (287,484 | ) | |||||||||
| Deferred income taxes | 797,490 | - | 1,647,950 | - | |||||||||||
| Loss (gain) on foreign currency | |||||||||||||||
| translation | 2,857 | (7,972 | ) | 350 | 41,147 | ||||||||||
| FFO | $ | 131,522 | $ | 122,567 | $ | 480,998 | $ | 159,322 | |||||||
| capital expenditure | - | (25,418 | ) | (17,020 | ) | (25,418 | ) | ||||||||
| Non-controlling interest | - | 12,455 | 8,340 | 12,455 | |||||||||||
| AFFO | $ | 131,522 | $ | 109,604 | $ | 472,318 | $ | 146,359 | |||||||
| 截至三個月 | 年終 | ||||||||||||||
| 2021年12月31日 | 2020年12月31日 | 2021年12月31日 | 2020年12月31日 | ||||||||||||
| 淨收入可歸因於： | |||||||||||||||
| 信託基金的單位持有人 | $ | 2,413,921 | $ | (50,041 | ) | $ | 5,173,518 | $ | (181,044 | ) | |||||
| 非控股權益 | 3,208,292 | 38,372 | 6,947,895 | 415,704 | |||||||||||
| 淨收益(虧損) | $ | 5,622,213 | $ | (11,669 | ) | $ | 12,121,413 | $ | 234,660 | ||||||
| 可歸因於以下原因的淨收益(虧損) | |||||||||||||||
| 單位持有人 | $ | 2,413,921 | $ | (50,041 | ) | $ | 5,173,518 | $ | (181,044 | ) | |||||
| 公允價值虧損(收益) | |||||||||||||||
| 投資性物業 | (6,617,000 | ) | (38,322 | ) | (12,432,980 | ) | 586,703 | ||||||||
| 未入帳的房地產税 | |||||||||||||||
| 根據IFRIC21 | 572,400 | 392,400 | - | - | |||||||||||
| 非控股權益 | 2,961,854 | (173,498 | ) | 6,092,160 | (287,484 | ) | |||||||||
| 遞延所得税 | 797,490 | - | 1,647,950 | - | |||||||||||
| 外幣損益 | |||||||||||||||
| 翻譯 | 2,857 | (7,972 | ) | 350 | 41,147 | ||||||||||
| FFO | $ | 131,522 | $ | 122,567 | $ | 480,998 | $ | 159,322 | |||||||
| 資本支出 | - | (25,418 | ) | (17,020 | ) | (25,418 | ) | ||||||||
| 非控股權益 | - | 12,455 | 8,340 | 12,455 | |||||||||||
| AFFO | $ | 131,522 | $ | 109,604 | $ | 472,318 | $ | 146,359 | |||||||
Forward-Looking Statements
前瞻性陳述
This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of Sun. Forward-looking statements are identified by words such as "target", "believe", "anticipate", "expect", "plan", "will", "may", "estimate" and other similar expressions. The forward-looking statements in this news release are based on certain assumptions. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the heading "Risk Factors" in Sun's management's discussion and analysis for the year ended December 31, 2021 which is available at . There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Therefore, readers should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by law, Sun assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
本新聞稿可能包含與Sun公司業務相關的前瞻性陳述(符合適用的證券法的含義)。前瞻性陳述通過諸如“目標”、“相信”、“預期”、“預期”、“計劃”、“將”、“可能”、“估計”和其他類似表述來識別。本新聞稿中的前瞻性陳述是基於某些假設。它們不是未來業績的保證，涉及難以控制或預測的風險和不確定性。許多因素可能導致實際結果與前瞻性陳述中討論的結果大不相同，包括但不限於太陽公司管理層在截至2021年12月31日的年度的討論和分析中“風險因素”標題下討論的因素。不能保證前瞻性陳述將被證明是準確的，因為實際結果和結果可能與這些前瞻性陳述中表達的大不相同。因此，讀者不應過分依賴任何此類前瞻性陳述。此外，這些前瞻性聲明是在本新聞稿發佈之日作出的，除非法律明確要求，否則Sun公司不承擔公開更新或修改任何前瞻性聲明的義務，無論是由於新信息、未來事件還是其他原因。
About Sun Residential REIT
關於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. Its business operations commenced on January 28, 2020, when it completed a financing and concurrently acquired a 51% interest in a multi-family residential property comprising 12 buildings with 288 rental units as well as various amenities for tenants located in Tallahassee, Florida.
太陽住宅房地產投資信託是根據日期為2019年1月22日的信託聲明成立的非法人開放式房地產投資信託基金，於2019年3月22日和2020年11月4日修訂和重述。Sun的業務是收購美國陽光地帶地區的多户住宅物業。其業務運營於2020年1月28日開始，當時它完成了一筆融資，並同時收購了一處多户住宅物業51%的權益，該物業包括12棟建築，288個租賃單位，以及位於佛羅裏達州塔拉哈西的租户的各種便利設施。
For further information, please contact:
如需更多信息，請聯繫：
Gordon Wiebe,
Chief Executive Officer
gwiebe@sunresreit.com
戈登·維貝
首席執行官
郵箱：gwiebe@sunresreit.com
Jeffrey Sherman,
Chief Financial Officer
jsherman@sunresreit.com
傑弗裏·謝爾曼
首席財務官
郵箱：jsherman@sunresreit.com
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