The Smart Investor
    Facebook Instagram
    Friday, October 9
    Facebook Instagram LinkedIn
    The Smart Investor
    • Home
    • About
      • About Us
      • Careers
    • Smart Investing
      • Getting Started
      • Investing Strategy
      • Smart Analysis
      • Smart Reads
    • US Stocks
    • Special Free Reports!
    • As Featured on BT
    • Our Services
      • Our Services
      • Subscribe now!
    • Login
    • Cart
    The Smart Investor
    Home»Small Cap Stocks»3 Under-the-Radar REITs That Raised Their DPU
    Small Cap Stocks

    3 Under-the-Radar REITs That Raised Their DPU

    Discover three under-the-radar REITs that increased their DPUs in 2025.
    Calvina L.By Calvina L.November 12, 2025Updated:November 12, 20256 Mins Read
    Facebook Twitter LinkedIn Email WhatsApp
    United Hampshire US REIT
    Hudson Valley Plaza, New York | Image credit: www.uhreit.com
    Share
    Facebook Twitter LinkedIn Email WhatsApp

    In a market where many REITs are still finding their footing amid higher interest rates and economic uncertainty, a few quieter names have shown they’re not ready to fade into silence. 

    Much like the Bee Gees’ enduring classics, United Hampshire US REIT (SGX: ODBU), Elite UK REIT (SGX: MXNU), and Prime US REIT (SGX: OXMU) have found a way to stay alive in spirit.

    While blue-chip REITs often dominate headlines, this trio has recently raised their distributions per unit (DPU), signalling resilience in their underlying portfolios and a commitment to rewarding unitholders.

    What’s driving these under-the-radar REITs to hit the high notes when others are struggling? 

    Let’s take a closer look at each one and uncover what might make them worthy additions to a dividend-focused portfolio.

    United Hampshire US REIT (SGX: ODBU)

    United Hampshire US REIT owns 19 grocery-anchored and necessity-based retail properties plus 2 self-storage facilities across eight US states, with US$0.7 billion in assets under management (AUM).

    Despite headline revenue declining 3% to US$35.7 million in the first half of 2025 (1H2025) due to property divestments, the REIT delivered where it counts: DPU rose 4.0% year on year (YoY) to US$0.0209, translating to an annualized DPU of US$0.0418. 

    On a same-store basis, revenue and net property income actually grew 2.6% and 2.4% respectively, driven by new leases and rental escalations.

    The REIT’s portfolio remains well-occupied, with grocery and necessity properties at 97.2% occupancy and self-storage at 95.3%. 

    During the period, it executed five new leases and 10 renewals totaling 82,395 sq ft, with self-storage rental rates staying strong.

    Strategic moves have been astute. 

    In August 2025, the REIT acquired Dover Marketplace in Pennsylvania for US$16.4 million (4.8% below valuation) using proceeds from an earlier divestment. 

    The grocery-anchored property is expected to boost DPU by 2%. 

    Meanwhile, a new 5,000 sq ft store at St. Lucie West, pre-leased to Florida Blue for 10 years, is set for completion in 4Q2026.

    Lower US interest rates have also helped, with 100 basis points of rate cuts since September 2024 reducing finance costs and supporting distribution growth.

    Elite UK REIT (SGX: MXNU)

    Elite UK REIT delivered a 9.4% increase in DPU for the first nine months of 2025 (9M2025), showcasing resilience amid active portfolio transformation. 

    The REIT owns 148 UK government-leased properties valued at £419.7 million, with 99.1% of gross rental income backed by AA-rated UK sovereign credit.

    For the nine-month period, revenue edged up 1.0% YoY to £28.3 million, while net property income dipped slightly to £27.4 million due to asset repositioning expenses. 

    However, distributable income jumped 6.2% to £14.8 million, lifting DPU from £0.0213 to £0.0233. 

    The improvement was driven by positive rental reversions, contributions from new acquisitions, and crucially, interest savings from capital management and rate optimization. 

    Borrowing costs stood at 4.8%, with 85% of debt on fixed rates.

    On the acquisition front, the REIT added three government-leased properties, including Tŷ Merlin in Carmarthen and Custom House in Felixstowe, delivering 0.6% DPU accretion while reducing gearing by 20 basis points.

    Repositioning projects are also progressing well. 

    Planning approval was secured for the conversion of Lindsay House in Dundee to 168-bed student accommodation, targeting completion in 2027 with potential for a fivefold valuation uplift. 

    Meanwhile, Cambria House in Cardiff (348 beds) and Peel Park in Blackpool (120 MVA data centre) are advancing through the planning process.

    Prime US REIT (SGX: OXMU)

    Despite a challenging backdrop for US office assets, marked by higher vacancies and hybrid work trends, Prime US REIT delivered a 9.1% quarter-on-quarter increase in DPU for 2H2025, rising from US$0.0011 in 1H2024 to US$0.0012. 

    The REIT owns 13 Class A freehold office properties across 12 US submarkets, with US$1.4 billion in AUM.

    While gross revenue slipped marginally by 0.4% to US$67.3 million, operational improvements are taking hold. 

    Portfolio occupancy improved to 80.2% from 78.9% in March 2025, with rental reversion strengthening to +4.3% in the second quarter. 

    Leasing momentum remained solid with 400,000 square feet signed during the period, including a standout 120,000-square-foot lease with Xenergy at Waterfront At Washingtonian.

    However, the REIT is navigating financial constraints. 

    Aggregate leverage stood at 46.7%, close to the 50% regulatory limit, while interest coverage of 1.7x sits just above the 1.5x regulatory requirement. 

    These tight metrics reflect the sector’s pressures and limit financial flexibility.

    Looking ahead, 440,000 square feet of leases signed in FY2024 and 1H2025 will progressively commence rent through 2026, representing 10.5% of portfolio occupancy. 

    For investors, Prime’s ability to deliver distribution growth despite a challenging sector and elevated leverage demonstrates disciplined asset management, though the narrow financial buffers warrant close monitoring.

    Get Smart: Quiet Performers Worth a Closer Listen

    While they may not command the same attention as their larger peers, United Hampshire US REIT, Elite UK REIT, and Prime US REIT have demonstrated that size isn’t everything. 

    With DPU increases ranging from 4.0% to 9.4%, these three REITs have shown they can navigate challenging market conditions through strategic asset management, prudent capital allocation, and capitalizing on operational improvements.

    For income-focused investors willing to look beyond the usual suspects, these under-the-radar names offer a compelling mix of distribution growth and resilience.

    In a market where many REITs are struggling to keep pace, this trio has shown they can keep the beat alive – steady, confident, and still hitting the right notes for long-term investors.

    You walk past million-dollar opportunities every single day. Your coffee shop. Your commute. Your grocery run. But these “boring” Singapore companies are quietly building fortunes while everyone chases crypto and overpriced tech stocks. Our latest report reveals 5 small-cap goldmines hiding in plain sight. Click here to download for free now before prices catch up.

    Follow us on Facebook, Instagram and Telegram for the latest investing news and analyses!

    Disclosure: Calvina Lee does not own any of the stocks mentioned. Chin Hui Leong contributed to the article and does not own any of the stocks mentioned. 

    Yahoo
    Share. Facebook Twitter LinkedIn Email WhatsApp

    Related Posts

    How to Build a Portfolio That Pays You S$3,000 a Month

    October 9, 2026
    DBS

    4 Dependable Singapore Stocks That Paid Dividends for 20 Years or More

    October 9, 2026
    UOB

    6 Dividend Blue Chips Powering the STI’s 2026 Rally

    October 9, 2026
    Facebook Instagram LinkedIn Telegram YouTube TikTok
    • Careers
    • Disclaimer & Privacy Policy
    • Advertising & Media Enquiries
    • Subscription Terms of Service
    © 2026 The Smart Investor. All Rights Reserved. The Smart Investor, thesmartinvestor.com.sg, an investment education website managed by The Investing Hustle Pte Ltd (Company Reg No. 201933459Z) is not licensed or otherwise regulated by the Monetary Authority of Singapore, and in particular, is not licensed or regulated to carry on business in providing any financial advisory service. Accordingly, any information provided on this site is meant purely for informational and investor educational purposes and should not be relied upon as financial advice. No information is presented with the intention to induce any reader to buy, sell, or hold a particular investment product or class of investment products. Rather, the information is presented for the purpose and intentions of educating readers on matters relating to financial literacy and investor education. Accordingly, any statement of opinion on this site is wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader. The Smart Investor does not recommend any particular course of action in relation to any investment product or class of investment products. Readers are encouraged to exercise their own judgment and have regard to their own personal needs and circumstances before making any investment decision, and not rely on any statement of opinion that may be found on this site.

    Type above and press Enter to search. Press Esc to cancel.