United Hampshire US Real Estate Investment Trust (ODBU) AI Stock Analysis

• Market Cap: $323.92M
• Dividend Yield: 8.23%
• Average Volume (3M): 380.00K
• Price to Earnings (P/E): 14.9
• Beta (1Y): 0.57
• Revenue Growth: -1.34%
• EPS Growth: -6.08%
• Country: SG
• Employees: 12
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Retail
• EPS (TTM): 0.02
• Shares Outstanding: 605,463,400
• 10 Day Avg. Volume: 123,540
• 30 Day Avg. Volume: 380,000
• PEG Ratio: -0.46
• Price to Book (P/B): 0.69
• Price to Sales (P/S): 4.27
• P/FCF Ratio: 20.27
• Enterprise Value/Market Cap: 1.97
• Enterprise Value/Revenue: 8.87
• Enterprise Value/Gross Profit: 13.90
• Enterprise Value/Ebitda: 26.21
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.04
• Revenue Forecast (FY): $75.79M

• Rating: 64 Neutral
• Price Target: $0.57 ▲(12.16% Upside)
• Action: Reiterated Date: 03/04/26
• Date: Action: Reiterated 03/04/26

Overall score reflects acceptable but weakening fundamentals driven by deteriorating cash flow and a 2025 revenue decline, partially offset by a supportive dividend yield and a constructive technical trend with moderate (not overbought) momentum.

Positive Factors

High Dividend Yield

A ~8.25% yield signals meaningful cash return potential typical of retail REITs and attracts income-focused capital. Over 2–6 months, a high yield supports investor base stability and provides total-return buffer while management addresses operating weaknesses.

Moderate Leverage

Leverage within a mid-0.6–0.8 D/E range is moderate for a retail REIT, leaving room for refinancing and operational flexibility. Gradually rising equity suggests balance-sheet rebuilding, reducing structural default risk and supporting longer-term capital access.

Strong Operating Margins

Sustained high gross and operating margins reflect durable rent economics and efficient property-level cost control. Margin resilience supports cash generation and dividend coverage even when top-line growth slows, aiding recovery and capital allocation over time.

Negative Factors

Revenue Decline

A ~17% top-line drop in 2025 signals weakening occupancy, rental rates, or asset base contraction. Persistent revenue pressure materially reduces operating leverage and cash available for distributions and reinvestment, challenging recovery without asset or leasing improvements.

Weakened Cash Generation

A ~56% FCF decline and materially lower operating cash flow undermine dividend sustainability and limit funding for capex or debt service. Historical FCF volatility (including past negative years) points to structural inconsistency in cash conversion that risks financing flexibility.

Falling Profitability & ROE

Consecutive net income declines and ROE cooling to ~4.6% reduce internal capital generation and long-term NAV accretion. Lower returns strain reinvestment capacity and make leverage more precarious, raising the cost of capital and limiting strategic growth options.

United Hampshire US Real Estate Investment Trust Business Overview & Revenue Model

Company Description

United Hampshire US REIT is a Singapore real estate investment trust established with the principal investment strategy of investing in a diversified portfolio of stabilised income-producing (i) grocery-anchored and necessity-based retail properties ("Grocery & Necessity Properties"), and (ii) modern, climate-controlled self-storage facilities ("Self-Storage Properties"), located in the U.S. The tenants targeted by United Hampshire US REIT are tenants resilient to the impact of e-commerce, including but not limited to restaurants, home improvement stores, fitness centers, warehouse clubs and other uses with strong omni-channel platforms.

How the Company Makes Money

United Hampshire US Real Estate Investment Trust generates revenue primarily through rental income from its portfolio of properties. The company leases retail spaces to various tenants, including grocery stores and essential services, which provide steady cash flow. Additionally, ODBU may earn revenue from residential leases in multifamily properties. The REIT benefits from long-term leases that offer predictable income streams. Strategic partnerships with property management firms help optimize operations and enhance tenant retention, contributing positively to revenue stability. Furthermore, the company may engage in property acquisitions or development projects, creating additional revenue opportunities through increased asset values and potential appreciation.

United Hampshire US Real Estate Investment Trust Financial Statement Overview

Summary

Core profitability is solid and leverage is generally reasonable for a retail REIT, but fundamentals have softened: 2025 revenue declined (~17% YoY), net income has fallen for two straight years, and cash flow quality is the key drag with sharply lower operating cash flow and free cash flow (down ~56% YoY) plus weaker cash conversion.

Income Statement

Profitability remains strong for a retail REIT, with consistently high gross and operating margins across the period. However, momentum has weakened: revenue turned negative in 2025 (down ~17% year over year), and net income has declined for two consecutive years (2024 to 2025), pressuring the net margin versus prior peaks. Overall, the income statement shows solid underlying earning power but a clear near-term deceleration.

Balance Sheet

Leverage looks moderate and fairly stable for the sector, with debt-to-equity generally in the ~0.64–0.80 range and equity gradually rising over time. That said, total debt has trended higher versus 2020 and remains sizeable, and returns on equity have cooled recently (down to ~4.6% in 2025 from mid-to-high single digits in 2023–2024). The balance sheet is workable, but earnings softness makes leverage feel less comfortable than during stronger years.

Cash Flow

Cash generation has become less reliable. Operating cash flow fell materially in 2025 versus 2024, and free cash flow declined sharply (down ~56% year over year in 2025). Free cash flow covered only about half of net income in 2025, indicating weaker cash conversion, and the history includes periods of negative free cash flow (notably 2020 and 2021), pointing to recurring capital spending or working-capital volatility. While free cash flow is currently positive, consistency is the key weakness.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	71.98M	72.76M	72.23M	66.89M	54.97M
Gross Profit	45.96M	46.37M	47.45M	42.87M	38.55M
EBITDA	43.66M	52.77M	42.55M	41.66M	38.04M
Net Income	20.65M	29.91M	32.82M	26.17M	42.86M
Balance Sheet
Total Assets	826.78M	800.00M	808.76M	785.90M	729.50M
Cash, Cash Equivalents and Short-Term Investments	21.45M	14.25M	14.71M	12.23M	11.19M
Total Debt	345.19M	320.66M	345.61M	336.68M	294.81M
Total Liabilities	379.45M	356.63M	374.62M	358.31M	310.24M
Stockholders Equity	444.67M	440.75M	431.58M	425.07M	417.00M
Cash Flow
Free Cash Flow	15.18M	29.73M	26.95M	37.41M	-39.05M
Operating Cash Flow	28.59M	43.26M	45.64M	43.59M	39.34M
Investing Cash Flow	-7.34M	21.76M	-9.26M	-9.76M	-82.61M
Financing Cash Flow	-15.10M	-64.68M	-34.70M	-32.81M	41.43M

United Hampshire US Real Estate Investment Trust Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.51
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:ODBU, the sentiment is Positive. The current price of 0.51 is below the 20-day moving average (MA) of 0.53, below the 50-day MA of 0.51, and above the 200-day MA of 0.47, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 64.26 is Neutral, neither overbought nor oversold. The STOCH value of 14.81 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:ODBU.

United Hampshire US Real Estate Investment Trust Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
ODBU	64 Neutral	$323.92M	14.90	6.49%	8.23%	-1.34%	-6.08%
OXMU	60 Neutral	$250.12M	5.46	0.38%	2.40%	-12.01%	―
XZL	53 Neutral	$147.93M	-3.69	-5.62%	5.06%	-6.01%	-36.46%
CMOU	51 Neutral	$214.11M	―	-2.12%	―	-1.55%	78.22%
BTOU	46 Neutral	$110.15M	-1.28	-48.17%	―	-27.66%	-106.71%
UD1U	43 Neutral	S$363.11M	-4.18	1.69%	8.37%	-11.29%	―

United Hampshire US Real Estate Investment Trust Corporate Events

United Hampshire US REIT Clarifies U.S. Tax Status of Early 2026 Distributions

United Hampshire US Real Estate Investment Trust has notified investors that it has not been engaged in a trade or business within the United States for the taxable period from 1 January 2026 to 31 March 2026. As a result, no portion of the distributions for this period is treated as income effectively connected with a U.S. trade or business or subject to withholding under Section 1446 of the U.S. Internal Revenue Code, and all U.S.-source interest in the distribution qualifies as portfolio interest for unitholders, clarifying the tax treatment of these payouts.

The most recent analyst rating on (SG:ODBU) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on United Hampshire US Real Estate Investment Trust stock, see the SG:ODBU Stock Forecast page.