United Hampshire US REIT reported first-quarter 2026 revenue of 19.7 million Singapore dollars, an 8.7 % increase from the same period a year earlier. Net property income rose 12.7 % to 13.2 million Singapore dollars, while distributable income advanced 10 % to 6.9 million Singapore dollars.

The manager attributed the stronger performance to rent escalations, new leases and contributions from two recently acquired assets—Dover Marketplace (acquired in Aug, 2025) and Wallingford Fair Shopping Center, which was purchased in Jan, 2026 for 21.4 million Singapore dollars, 8.2 % below its independent valuation.

Portfolio occupancy remained high, with grocery & necessity properties at 97.7 %, up 8 basis points quarter-on-quarter, and self-storage assets at 89.2 %, up 55 basis points. Weighted average lease expiry improved to 8.0 years as of Mar, 2026, while only 2.0 % of leases are due in 2026.

Capital management indicators remained solid: the weighted average interest rate eased by 10 basis points to 4.91 %, weighted average debt maturity stood at 3.2 years and there is no refinancing requirement until 2028. Net aggregate leverage was 40.3 %, with 114.5 million Singapore dollars in undrawn facilities and 29.8 % of debt on floating rates.

Operationally, the trust completed the 53,000 sq ft DICK’S Sporting Goods opening at Hudson Valley Plaza, secured lease extensions with key grocery tenants Giant Supermarket and Stop & Shop, and advanced the pre-leased 5,000 sq ft Florida Blue development at St. Lucie West.

Based on the FY 2025 distribution of 4.39 Singapore cents and a unit price of 0.505 Singapore dollars as at Mar, 31 2026, United Hampshire US REIT offers a distribution yield of 8.7 %. The units trade at 0.69 times book value, implying a 31 % discount to the net asset value of 0.73 Singapore dollars per unit.