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The latest announcement is out from US Masters Residential Property Fund ( (AU:URF) ).
In its latest quarterly update, US Masters Residential Property Fund reported a portfolio decrement of $9.2 million, largely due to a slowdown in the New York Premium segment. Despite this, the company maintained a strong sales pace, closing on 47 properties for $70.92 million in the second quarter. The company used proceeds to repay $40.88 million of its Global Atlantic Term Loan, and successfully negotiated an amendment to its Tangible Net Worth Covenant, facilitating the repatriation of $51.2 million to Australia. The sales pipeline remains robust at $175.64 million, with optimism to meet 2025 sales targets.
The most recent analyst rating on (AU:URF) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on US Masters Residential Property Fund stock, see the AU:URF Stock Forecast page.
More about US Masters Residential Property Fund
US Masters Residential Property Fund operates in the real estate industry, focusing on residential property investments primarily in the New York and New Jersey markets. The company engages in buying, selling, and managing residential properties, aiming to generate returns for its investors through strategic sales and property management.
Average Trading Volume: 676,898
Technical Sentiment Signal: Buy
Current Market Cap: A$221.1M
See more insights into URF stock on TipRanks’ Stock Analysis page.