UOA REITS had their virtual AGM today. As expected net property income and occupancy rates was down. There was some anchor tenant that left UOA Damansara.
Yields are still ok at above 7% but the REIT's near to medium term future will depend on people returning to the office and Covid19.
Their most recent acquisition was UOA Corporate Tower at Bangsar South in December 2020 and the earnings is not reflected yet in last year's earnings.
NAV Net Asset Value also dropped to RM1.45 per unit. At the current share price of RM1.11, can say is trading at a discount of 30%. In theory the Net Asset Value means if UOAREIT sells off everything they should be able to get that value.
Not sure if there were any goodies announced but past physical AGM they gave shopping vouchers to use at Bangsar South Nexus Shopping Mall. I previously wrote their last year physical AGM here.
📍Links
https://propfessor.blogspot.com/2019/04/uoareit-agm-2019.html