Sun Residential REIT Continues Robust Results, Announces Investor Conference Call on August 2, and Declares Q3 Distribution Payable September 30, 2023
Sun Residential REIT Continues Robust Results, Announces Investor Conference Call on August 2, and Declares Q3 Distribution Payable September 30, 2023
Toronto, Ontario--(Newsfile Corp. - August 1, 2023) - Sun Residential Real Estate Investment Trust (TSXV: SRES) today released its financial results for the three and six months ended June 30, 2023. All amounts are in United States dollars unless otherwise noted. "C$" refers to Canadian dollars.
安大略省多倫多--（Newsfile Corp.，2023年8月1日）——太陽住宅房地產投資信託基金（TSXV：SRES）今天公佈了截至2023年6月30日的三個月和六個月的財務業績。 除非另有說明，所有金額均以美元計算。“C$” 是指加元。
Revenue for the three months ended June 30, 2023 was $1,475,527 an increase of 8.9% compared with the same period in the prior year. Net rental income was $988,878, an increase of 3.5%, and net income and comprehensive income for the three months was $581,815, an increase of 9.8%.
截至2023年6月30日的三個月，收入爲1,475,527美元，與去年同期相比增長了8.9％。淨租金收入爲988,878美元，增長3.5％，三個月的淨收入和綜合收入爲581,815美元，增長9.8％。
Revenue for the six months ended June 30, 2023 was $2,870,880 an increase of 8.6% compared with the same period in the prior year. Net rental income was $1,975,849, an increase of 6.0%, and net income and comprehensive income for the three months was $1,105,873, an increase of 9.9%.
截至2023年6月30日的六個月中，收入爲2870,880美元，與去年同期相比增長了8.6％。淨租金收入爲1,975,849美元，增長6.0％，三個月的淨收入和綜合收入爲1,105,873美元，增長9.9％。
At June 30, 2023, Sun had total assets of $75.9 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 June 30, 2023 was $4.2 million (December 31, 2021 - $4.6 million).
截至2023年6月30日，Sun的總資產爲7,590萬美元（2022年12月31日爲7,560萬美元），現金及現金等價物爲370萬美元（2022年12月31日爲470萬美元）。截至2023年6月30日，營運資金爲420萬美元（2021年12月31日爲460萬美元）。
Robert C. Wetenhall Jr., Chief Executive Officer, said, "During the quarter, we acquired a distressed apartment building located in Cape Coral, Florida. Mobilization to begin renovating the property, which was heavily damaged by Hurricane Ian, has already begun. We expect the property will be accretive to earnings when stabilized next year and demonstrates our commitment to creating shareholder value by sourcing attractive investment opportunities in the Sun Belt."
首席執行官小羅伯特·韋滕霍爾表示：“在本季度，我們收購了位於佛羅里達州開普科勒爾的一棟破舊公寓樓。開始翻修這座遭受颶風伊恩嚴重破壞的房產的動員工作已經開始。我們預計，明年穩定後，該物業將增加收益，並表明我們致力於通過在太陽地帶尋找有吸引力的投資機會來創造股東價值。”
Additional highlights (at June 30, 2023 or for the three months then ended, unless otherwise noted)
其他亮點 （除非另有說明，否則在 2023 年 6 月 30 日或當時結束的三個月）
NAV (net asset value) per unit - $0.109 (C$0.147)
Weighted average occupancy for the quarter - 93%; occupancy at quarter-end - 95%
FFO (funds from operations) - $206,792, an increase of 36% from the prior year.
AFFO (adjusted funds from operations) - $183,081, an increase of 22% from the prior year.
Quarterly distribution paid June 30, 2023 corresponds to 57% of net income available to unitholders, 71% of FFO, and 80% of AFFO.
Rent collection for June 2023 - 99%
Net operating income margin - 52%
Debt to gross book value - 41%
每單位資產淨值（淨資產價值）-0.109美元（0.147加元）
本季度的加權平均入住率——93％；季度末的入住率——95％
FFO（運營資金）——206,792美元，比上年增長36％。
AFFO（調整後的運營資金）——183,081美元，比上年增長22％。
2023年6月30日支付的季度分配相當於單位持有人可用淨收益的57％，FFO的71％和AFFO的80％。
2023 年 6 月的租金徵收-99%
淨營業收入利潤率-52%
債務佔賬面總值的比例—— 41%
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 June 30, 2023, available on SEDAR at and on Sun's website at .
下文列出了與非國際財務報告準則指標的對賬情況。有關財務業績和運營統計分析的更多信息，請參閱Sun的合併財務報表及其管理層對截至2023年6月30日的討論和分析，可在SEDAR和Sun的網站上查閱。
Conference Call
電話會議
Interested parties are invited to participate in a Zoom video call with management on August 2, 2023 at 9:00 a.m., Eastern Time. Please use the following link:
邀請有興趣的人士參加美國東部時間2023年8月2日上午9點與管理層的Zoom視頻通話。請使用以下鏈接：
Quarterly distribution
季度分配
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 September 29, 2023 to unitholders of record as of the close of business on September 15, 2023, and represents an annual rate of C$0.0038 (0.38 Canadian cents) per unit.
董事會批准了每單位0.00095加元（0.095加元）的定期季度分配。這筆分配將於2023年9月29日支付給截至2023年9月15日營業結束時的登記在冊的單位持有人，年利率爲每單位0.0038加元（0.38加元）。
Non-IFRS Financial Measures
非國際財務報告準則財務指標
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 March 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.
加權平均租賃利率、FFO、AFFO、租金徵收、淨營業收入利潤率、單位資產淨值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）認可的指標，也沒有國際財務報告準則規定的含義。Sun計算的加權平均租賃利率、FFO、AFFO、2023年3月的租金徵收情況、淨營業收入利潤率、單位資產淨值和債務與賬面總值之比可能無法與其他發行人提出的類似指標相提並論。請參閱下表，了解與《國際財務報告準則》指標的對賬情況。
| Three months ended | Six months ended |
|||||||||||
| June 30 |
June 30 |
|||||||||||
| 2023 | 2022 | 2023 | 2022 | |||||||||
| Net income attributable to unitholders | $ | 257,120 | $ | 201,005 | $ | 458,449 | $ | 370,920 | ||||
| Adjustments to arrive at FFO | ||||||||||||
| Fair value adjustment to | ||||||||||||
| investment properties | 46,493 | 4,352 | 98,162 | 10,152 | ||||||||
| Realty taxes not accounted for under | ||||||||||||
| IFRIC 21 | (217,800 | ) | (190,200 | ) | (435,600 | ) | (380,400 | ) | ||||
| Non-controlling interest | 83,940 | 91,066 | 165,345 | 181,422 | ||||||||
| Deferred income taxes | 45,087 | 51,083 | 88,990 | 96,125 | ||||||||
| Loss (gain) on foreign currency translation | (8,048) | (5,431 | ) | (8,358 | ) | (3,817 | ) | |||||
| Funds from operations (FFO) | 206,792 | 151,875 | 366,988 | 274,402 | ||||||||
| Adjustments to arrive at AFFO | ||||||||||||
| Capital expenditures | (46,493 | ) | (4,352 | ) | (98,162 | ) | (10,152 | ) | ||||
| Non-controlling interest | 22,782 | 2,132 | 48,099 | 4,974 | ||||||||
| Adjusted funds from operations (AFFO) | $ | 183,081 | $ | 149,655 | $ | 316,925 | $ | 269,224 | ||||
| Weighted average number of units | 203,338,999 | 203,338,999 | 203,338,999 | 203,338,999 | ||||||||
| FFO per unit | $ | 0.0010 | $ | 0.0007 | $ | 0.0018 | $ | 0.0013 | ||||
| AFFO per unit | $ | 0.0009 | $ | 0.0007 | $ | 0.0016 | $ | 0.0013 | ||||
| June 30 | December 31 | |||||||||||
| 2023 | 2022 | |||||||||||
| Unitholder equity | $ | 22,114,236 | 21,801,627 | |||||||||
| NAV per unit | $ | 0.109 | $ | 0.107 | ||||||||
| NAV per unit (C$) | $ | 0.147 | $ | 0.140 | ||||||||
| 三個月已結束 | 六個月已結束 |
|||||||||||
| 6 月 30 日 |
6 月 30 日 |
|||||||||||
| 2023 | 2022 | 2023 | 2022 | |||||||||
| 歸屬於單位持有人的淨收益 | $ | 257,120 | $ | 201,005 | $ | 458,449 | $ | 370,920 | ||||
| 爲達到 FFO 而進行的調整 | ||||||||||||
| 公允價值調整至 | ||||||||||||
| 投資物業 | 46,493 | 4,352 | 98,162 | 10,152 | ||||||||
| 房地產稅未計入以下 | ||||||||||||
| IFRIC 21 | (217,800) | ) | (190,200 | ) | (435,600) | ) | (380,400) | ) | ||||
| 非控股權益 | 83,940 | 91,066 | 165,345 | 181,422 | ||||||||
| 遞延所得稅 | 45,087 | 51,083 | 88,990 | 96,125 | ||||||||
| 外幣折算虧損（收益） | (8,048) | (5,431) | ) | (8,358) | ) | (3,817) | ) | |||||
| 運營資金 (FFO) | 206,792 | 151,875 | 366,988 | 274,402 | ||||||||
| 將在AFFO上進行調整 | ||||||||||||
| 資本支出 | (46,493) | ) | (4,352) | ) | (98,162) | ) | (10,152) | ) | ||||
| 非控股權益 | 22,782 | 2,132 | 48,099 | 4,974 | ||||||||
| 調整後的運營資金（AFFO） | $ | 183,081 | $ | 149,655 | $ | 316,925 | $ | 269,224 | ||||
| 加權平均單位數 | 203,338,999 | 203,338,999 | 203,338,999 | 203,338,999 | ||||||||
| 每單位的FFO | $ | 0.0010 | $ | 0.0007 | $ | 0.0018 | $ | 0.0013 | ||||
| 每單位 AFFO | $ | 0.0009 | $ | 0.0007 | $ | 0.0016 | $ | 0.0013 | ||||
| 6 月 30 日 | 12 月 31 日 | |||||||||||
| 2023 | 2022 | |||||||||||
| 單位持有人權益 | $ | 22,114,236 | 21,801,627 | |||||||||
| 每單位資產淨值 | $ | 0.109 | $ | 0.107 | ||||||||
| 每單位資產淨值（加元） | $ | 0.147 | $ | 0.140 | ||||||||
About Sun Residential REIT
關於太陽住宅房地產投資信託基金
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.
太陽住宅房地產投資信託基金是一家非法人開放式房地產投資信託基金，根據2019年1月22日的信託聲明成立，該聲明於2019年3月22日和2020年11月4日進行了修訂和重申。Sun的業務是收購美國太陽帶地區的多戶住宅物業。
For further information, please contact:
欲了解更多信息，請聯繫：
Robert C. Wetenhall Jr.
Chief Executive Officer
rwetenhall@sunresreit.com
小羅伯特·C·韋滕霍爾
首席執行官
rwetenhall@sunresreit.com
Jeffrey D. Sherman,
Chief Financial Officer
jsherman@sunresreit.com
(416) 214-2228
傑弗裏·謝爾曼，
首席財務官
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.
多倫多證券交易所風險投資交易所及其監管服務提供商（該術語在多倫多證券交易所風險投資交易所的政策中定義）均不對本新聞稿的充分性或準確性承擔責任。
To view the source version of this press release, please visit
要查看本新聞稿的源版本，請訪問