US Masters Residential Property Fund (AU:URF)
ASX:URF
Top Page
US Masters Residential Property Fund
(Sydney:URF)
Select Model
Select Model
Rating:45Neutral
Price Target:
AU$0.19
â–¼(-33.93% Downside)
Action:UpgradedDate:03/04/26
The score is primarily weighed down by deteriorating financial performance—shrinking revenue, sustained net losses, and persistently negative operating/free cash flow—partially offset by improved leverage. Technical indicators are broadly neutral, and valuation is mixed due to a negative P/E alongside a modest dividend yield.
Positive Factors
Improved leverage
Lower debt-to-equity materially reduces balance-sheet risk and interest burden over the medium term, increasing flexibility to hold assets through cycles or access financing on better terms. This structural improvement supports resilience against downturns and refinancing stress.
Negative Factors
Material revenue decline
A sustained ~31% year-over-year revenue drop signals portfolio shrinkage or operating underperformance, weakening the fund's ability to cover fixed operating costs and maintain distributions. Persistently lower top-line reduces optionality for long-term capital projects and strategic repositioning.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage
Lower debt-to-equity materially reduces balance-sheet risk and interest burden over the medium term, increasing flexibility to hold assets through cycles or access financing on better terms. This structural improvement supports resilience against downturns and refinancing stress.
Read all positive factors
US Masters Residential Property Fund (URF) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$123.92M
Dividend Yield2.62%
Average Volume (3M)415.83K
Price to Earnings (P/E)―
Beta (1Y)0.43
Revenue Growth-35.85%
EPS Growth35.27%
CountryAU
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Residential
Share Statistics
EPS (TTM)-0.09
Shares Outstanding688,451,300
10 Day Avg. Volume224,667
30 Day Avg. Volume415,833
Financial Highlights & Ratios
PEG Ratio-0.12
Price to Book (P/B)0.84
Price to Sales (P/S)9.40
P/FCF Ratio-16.89
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
US Masters Residential Property Fund Business Overview & Revenue Model
Company Description
US Masters Residential Property Fund (Fund) was established in 2011 and is listed on the Australian Securities Exchange (URF.ASX). The Fund was established to give investors exposure to US residential property and is the largest Australian-listed ...
How the Company Makes Money
URF generates revenue primarily through rental income from its residential properties. The fund leases out single-family homes to tenants, creating a steady cash flow stream. Additionally, URF may earn revenue from property appreciation as the val...
US Masters Residential Property Fund Financial Statement Overview
Summary
Income Statement
27
Negative
Balance Sheet
58
Neutral
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 21.28M | 36.74M | 46.19M | 45.78M | 39.57M |
| Gross Profit | 4.21M | 19.22M | 44.57M | 27.51M | 23.60M |
| EBITDA | -85.59M | -36.14M | 2.92M | 10.08M | 8.68M |
| Net Income | -56.59M | -44.56M | -18.97M | 6.91M | 21.14M |
Balance Sheet | |||||
| Total Assets | 362.52M | 811.61M | 936.56M | 1.02B | 975.36M |
| Cash, Cash Equivalents and Short-Term Investments | 92.49M | 84.51M | 43.54M | 55.03M | 57.51M |
| Total Debt | 117.52M | 360.59M | 459.09M | 505.02M | 482.95M |
| Total Liabilities | 124.56M | 411.24M | 515.32M | 565.96M | 530.56M |
| Stockholders Equity | 238.47M | 399.36M | 419.33M | 453.21M | 444.80M |
Cash Flow | |||||
| Free Cash Flow | -11.84M | -10.77M | -5.84M | -4.94M | -8.89M |
| Operating Cash Flow | -11.84M | -10.77M | -5.84M | -4.94M | -8.89M |
| Investing Cash Flow | 330.30M | 206.94M | 67.31M | 27.59M | 116.12M |
| Financing Cash Flow | -303.61M | -154.84M | -68.96M | -39.28M | -127.99M |
US Masters Residential Property Fund Technical Analysis
Negative
0.28
Price Trends
0.19
Negative
0.19
Negative
0.19
Negative
Market Momentum
>-0.01
Positive
40.15
Neutral
100.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:URF, the sentiment is Negative. The current price of 0.28 is above the 20-day moving average (MA) of 0.18, above the 50-day MA of 0.19, and above the 200-day MA of 0.19, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 40.15 is Neutral, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:URF.
US Masters Residential Property Fund Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | AU$231.61M | 9.94 | 7.81% | 3.11% | 11.30% | 18.93% | |
70 Outperform | AU$1.61B | 5.41 | 8.46% | 1.81% | 6.96% | 815.99% | |
67 Neutral | AU$378.83M | 2.70 | 11.81% | 7.46% | -3.97% | 1057.09% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
54 Neutral | AU$338.36M | -3.71 | -12.95% | 11.21% | -16.67% | -1419.67% | |
49 Neutral | AU$55.89M | -4.82 | -16.74% | 15.14% | -68.24% | 42.03% | |
45 Neutral | AU$123.92M | -0.81 | -18.52% | 2.62% | -35.85% | 35.27% |
* Real Estate Sector Average
AU:URF
US Masters Residential Property Fund
0.18
-0.02
-10.00%
AU:EGH
Eureka Group Holdings Limited
0.54
0.04
6.93%
AU:DXC
Dexus Convenience Retail REIT
2.75
0.00
0.00%
AU:AOF
Australian Unity Office Fund
0.34
-0.14
-29.17%
AU:HCW
HealthCo Healthcare & Wellness REIT
0.62
-0.33
-35.26%
AU:INA
Ingenia Communities Group
3.95
-1.45
-26.88%
US Masters Residential Property Fund Corporate Events
US Masters Residential Property Group Updates NAV Amid Property Sales and FX Shifts
Mar 4, 2026
US Masters Residential Property Group reported an estimated unaudited post-tax net asset value of $0.228 per unit as at 27 February 2026, down from a reference NAV of $0.333 per unit as at 31 January 2026. The latest figure reflects updated audite...
US Masters Residential speeds portfolio sell-down as 2025 sales beat target
Feb 26, 2026
US Masters Residential Property Group exceeded its 2025 sales target, achieving US$244.2 million in disposals across 179 properties and ending the year with 161 assets remaining. The fund has now set a goal to sell its remaining portfolio by the e...
US Masters Residential Files Updated Governance Statement with ASX
Feb 26, 2026
US Masters Residential Property Group has lodged its updated corporate governance statement and accompanying Appendix 4G with the ASX for the financial year ended 31 December 2025. The disclosure confirms the board’s approval as at 26 Februa...
US Masters Residential Property Group Posts Deeper 2025 Loss as Asset Backing Falls
Feb 26, 2026
US Masters Residential Property Group reported a sharp deterioration in its 2025 financial performance, with total revenue down 46% to $20,487 and the net operating loss widening 27% to $57,293. The total comprehensive loss attributable to securit...
US Masters Residential Property Fund Posts Lower Preliminary NAV Ahead of Portfolio Revaluation
Feb 11, 2026
US Masters Residential Property Group reported an estimated unaudited post-tax net asset value of $0.277 per unit as at 6 February 2026, down from a reference NAV of $0.395 per unit at 31 December 2025, reflecting an updated AUD:USD exchange rate ...
Harvest Lane Lifts Stake in US Masters Residential Property Fund to Just Over 6%
Feb 10, 2026
Harvest Lane Asset Management has increased its substantial holding in US Masters Residential Property Fund, lifting its relevant interest from 5.07% to 6.09% of the fund’s ordinary shares. The change reflects additional acquisitions taking ...
US Masters Residential Property Group Targets Full Portfolio Sell-Down and Wind-Up by 2026
Feb 9, 2026
US Masters Residential Property Group plans to sell all remaining properties in its New York Premium, New Jersey Premium and New Jersey Workforce portfolio by the end of 2026, while acknowledging that some disposals may slip into 2027 due to regul...
US Masters Residential Property Group Announces 10c Special Distribution
Feb 5, 2026
US Masters Residential Property Group has declared a special distribution of 10 cents per stapled security to its securityholders. The distribution will trade ex on 10 February 2026, with a record date of 11 February 2026 and payment expected on o...
US Masters Residential Property Fund Announces AUD 0.10 Distribution to Unitholders
Feb 5, 2026
US Masters Residential Property Fund has declared a distribution of AUD 0.10 per fully paid stapled security, with an ex-date of 10 February 2026, a record date of 11 February 2026 and payment scheduled for 20 February 2026. The distribution, whic...
US Masters Residential Property Fund Posts Lower Preliminary NAV on Forex Shift
Feb 4, 2026
US Masters Residential Property Group reported a preliminary unaudited after-tax NAV of $0.379 per unit as of 30 January 2026, down from the December reference NAV of $0.395 due largely to foreign exchange adjustments using a strengthened AUD:USD ...
US Masters Residential Property Group Posts Lower Preliminary NAV on Currency Shift
Jan 28, 2026
US Masters Residential Property Group has reported an estimated unaudited net asset value of $0.383 per unit as at 23 January 2026, down from an estimated $0.395 per unit at 31 December 2025, largely reflecting movements in the AUD:USD exchange ra...
US Masters Residential Maintains Preliminary NAV at $0.395 Ahead of Portfolio Revaluation
Jan 21, 2026
US Masters Residential Property Group has reported an estimated unaudited net asset value of $0.395 per unit after tax as at 16 January 2026, unchanged from its most recent monthly reference NAV at 31 December 2025. The weekly NAV update reflects ...
US Masters Residential Property Group Repatriates US$40m from US Operations
Jan 21, 2026
US Masters Residential Property Group has repatriated US$40 million of available cash from its US-based US Masters Residential Property (USA) Fund back to the Australian-listed US Masters Residential Property Fund as of 21 January 2026. The board ...
US Masters Residential Property Group Posts Lower NAV, Accelerates US Property Sell-Down
Jan 14, 2026
US Masters Residential Property Group reported an unaudited net asset value of $0.395 per unit as at 31 December 2025, noting that this estimate does not yet reflect the outcome of its half-yearly property revaluation, which will be incorporated i...
US Masters Residential Property Fund Cancels 2.43 Million Units in On-Market Buy-Back
Jan 1, 2026
US Masters Residential Property Fund has cancelled 2,430,717 fully paid stapled units as part of its on-market buy-back program, effective 31 December 2025. The reduction in securities on issue is expected to modestly enhance value per remaining u...
US Masters Residential Property Group Extends Term Loan and Accepts Higher Interest Rate
Dec 31, 2025
US Masters Residential Property Group has amended its existing term loan facility, lifting the interest rate from 4.0% to 6.0% per annum from 1 January 2026, applying an amendment fee of 0.125% to the outstanding principal, and extending the loan&...
US Masters Residential Property Group Releases Final 2025 NAV Estimate
Dec 17, 2025
The US Masters Residential Property Group announced its estimated unaudited net asset value (NAV) per unit as of December 12, 2025, at $0.406, reflecting a slight decrease from the previous month’s NAV due to currency exchange rate adjustmen...
US Masters Residential Property Group Reports November Sales and NAV Update
Dec 12, 2025
US Masters Residential Property Group reported an estimated unaudited net asset value (NAV) of $0.412 per unit as of November 30, 2025. In November, the company closed sales of 12 assets totaling $16.48 million, contributing to a year-to-date tota...
US Masters Residential Property Group Reports Updated NAV
Dec 10, 2025
US Masters Residential Property Group announced its estimated unaudited net asset value (NAV) per unit as of December 5, 2025, was $0.414, reflecting a slight decrease from the previous monthly estimate due to foreign exchange rate adjustments. Th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.