Sun Residential REIT Delivers Solid Results, and Declares Q4 Distribution Payable December 29, 2023
Sun Residential REIT Delivers Solid Results, and Declares Q4 Distribution Payable December 29, 2023
Toronto, Ontario--(Newsfile Corp. - October 31, 2023) - Sun Residential Real Estate Investment Trust (TSXV: SRES) today released its financial results for the three and nine months ended September 30, 2023. All amounts are in United States dollars unless otherwise noted. "C$" refers to Canadian dollars.
安大略省多倫多-(Newsfile Corp.-2023年10月31日)-Sun Residential Real Estate Investment Trust(多倫多證券交易所股票代碼：SRES)今天公佈了截至2023年9月30日的三個月和九個月的財務業績。除非另有說明，否則所有金額均以美元計價。“C$”指的是加元。
Revenue for the three months ended September 30, 2023, was $1,466,573, an increase of 4.5% compared with the same period in the prior year. Net rental income was $1,017,123, an increase of 10.2%, and net loss and comprehensive loss for the three months was a loss of $8,664,062, which includes a fair value adjustment to the investment property of $10,658,017.
截至2023年9月30日的三個月的收入為1,466,573美元，與去年同期相比增長了4.5%。淨租金收入為1,017,123美元，增長10.2%，三個月的淨虧損和綜合虧損為虧損8,664,062美元，其中包括對投資物業10,658,017美元的公允價值調整。
Revenue for the nine months ended September 30, 2023, was $4,337,453, an increase of 7.2% compared with the same period in the prior year. Net rental income was $2,992,972, an increase of 7.4%, and net loss and comprehensive loss for the nine months was $7,558,189, which includes which includes a fair value adjustment to the investment property of $10,756,179.
截至2023年9月30日的9個月的收入為4,337,453美元，比去年同期增長7.2%。租金淨收入為2,992,972美元，增長7.4%，首9個月的淨虧損和綜合虧損為7,558,189美元，其中包括對投資物業10,756,179美元的公允價值調整。
At September 30, 2023, Sun had total assets of $65.7 million (December 31, 2022 - $75.6 million), and cash and cash equivalents of $3.7 million (December 31, 2022 - $4.7 million). Working capital at September 30, 2023, was $4.4 million (December 31, 2022 - $4.6 million).
截至2023年9月30日，Sun的總資產為6570萬美元(2022年12月31日至7560萬美元)，現金及現金等價物為370萬美元(2022年12月31日至470萬美元)。截至2023年9月30日，營運資金為440萬美元(2022年12月31日至460萬美元)。
"Occupancy at Evergreen at Southwood, our flagship property in Tallahassee, was slightly softer during the quarter, consistent with general trends in the local market. Nonetheless, the asset continues to deliver solid financial performance and remains on track to generate consistent cash flow heading into year-end," said Robert C. Wetenhall Jr., Chief Executive Officer. "Separately, the opening of our development project is expected in mid-2024. Recent transactions for similar multifamily properties are encouraging in terms of supporting our view that SRES will be able to create substantial value upon stabilization of the project."
我們在塔拉哈西的旗艦物業索斯伍德的長榮酒店的入住率在本季度略有下降，這與當地市場的總體趨勢一致。儘管如此，該資產繼續提供穩健的財務表現，並在年底前仍將產生持續的現金流，“首席執行官小羅伯特·C·韋滕霍爾說。另外，我們的開發專案預計將於2024年年中開業。最近類似多戶物業的交易令人鼓舞，這支持了我們的觀點，即SRES將能夠在專案穩定後創造大量價值。
Additional highlights (at September 30, 2023 or for the three months then ended, unless otherwise noted)
其他亮點(除非另有說明，在2023年9月30日或當時結束的三個月內)
- Weighted average occupancy for the quarter - 91% (Occupancy at quarter-end - 91%).
- Net operating income margin - 54%.
- FFO (funds from operations) - $207,547, an increase of 42% from the prior year.
- AFFO (adjusted funds from operations) - $177,958 an increase of 232% from the prior year.
- Quarterly distribution paid September 29, 2023, corresponds to 69% of FFO, and 80% of AFFO.
- Debt to gross book value - 48%.
- NAV (net asset value) per unit - $0.089 (approximately C$0.121).
- 本季度加權平均入住率-91%(季度末入住率-91%)。
- 淨營業利潤率-54%。
- FFO(業務資金)--207,547美元，比上年增長42%。
- AFFO(調整後的業務資金)--177,958美元，比上年增長232%。
- 2023年9月29日支付的季度分配相當於FFO的69%，AFFO的80%。
- 債務與賬面價值之比為-48%。
- 每單位資產淨值-0.089美元(約合0.121加元)。
A reconciliation to non-IFRS measures is set out below. For further information on the financial results as well as analysis of operational statistics, please refer to Sun's consolidated financial statements and its management's discussion and analysis for the period ended September 30, 2023, available on SEDAR at and on Sun's website at .
與非《國際財務報告準則》計量的對賬如下。有關財務結果和經營統計分析的更多資訊，請參閱Sun的綜合財務報表及其管理層對截至2023年9月30日期間的討論和分析，可在SEDAR和Sun的網站上查閱。
Quarterly distribution
季度分銷
The Board of Trustees has approved a regular quarterly distribution of C$0.00095 (0.095 Canadian cents) per unit. This distribution will be paid December 29, 2023 to unitholders of record as of the close of business on December 14, 2023, and represents an annual rate of C$0.0038 (0.38 Canadian cents) per unit.
董事會已經批准了每單位0.00095加元(0.095加分)的定期季度分配。這一分配將於2023年12月29日支付給截至2023年12月14日收盤時登記在冊的單位持有人，相當於每單位0.0038加元(0.38加分)的年利率。
Non-IFRS Financial Measures
非國際財務報告準則財務衡量標準
Weighted average leased rate, FFO, AFFO, rent collection, net operating income margin, NAV per unit and debt to gross book value are key measures of performance commonly used by real estate investment trusts. They are not measures recognized under International Financial Reporting Standards (IFRS) and do not have meanings prescribed by IFRS. Weighted average leased rate, FFO, AFFO, rent collection for September 2023, net operating income margin, NAV per unit and debt to gross book value as calculated by Sun may not be comparable to similar measures presented by other issuers. Please see the table below for reconciliations to IFRS measures.
加權平均租賃利率、FFO、AFFO、租金收取、淨營業利潤率、單位資產淨值和債務與賬面價值之比是房地產投資信託基金常用的關鍵業績衡量標準。它們不是國際財務報告準則(IFRS)承認的衡量標準，也沒有IFRS規定的含義。Sun計算的加權平均租賃利率、FFO、AFFO、2023年9月的租金收入、淨營業利潤率、單位資產淨值和債務與賬面總值之比可能無法與其他發行人提供的類似指標相比較。請參閱下表，瞭解與“國際財務報告準則”衡量標準的協調情況。
| Three months ended | Nine months ended | ||||||||||||
| September 30 | September 30 | ||||||||||||
| 2023 | 2022 | 2023 | 2022 | ||||||||||
| Net income (loss) attributable to unitholders | |||||||||||||
| unitholders | $ | (3,801,441) | $ | 132,718 | $ |
(3,342,992) | $ | 503,638 | |||||
| Adjustments to arrive at FFO | |||||||||||||
| Fair value adjustment to | |||||||||||||
| investment properties | 10,658,017 | 181,714 | 10,756,179 | 191,866 | |||||||||
| Realty taxes not accounted for under | |||||||||||||
| IFRIC 21 | (217,800) | (190,200) | (653,400) | (570,600) | |||||||||
| Non-controlling interest | (5,115,706) | 4,158 | (4,950,362) | 185,580 | |||||||||
| Deferred income taxes | (1,323,819) | 9,922 | (1,234,829) | 106,047 | |||||||||
| Loss (gain) on foreign currency translation | 8,296 | 7,898 | (63) | 4,081 | |||||||||
| Funds from operations (FFO) | 207,547 | 146,210 | 574,533 | 420,612 | |||||||||
| Adjustments to arrive at AFFO | |||||||||||||
| Capital expenditures | (58,017) | (181,714) | (156,179) | (191,866) | |||||||||
| Non-controlling interest | 28,428 | 89,040 | 76,528 | 94,014 | |||||||||
| Adjusted funds from operations (AFFO) | $ | 177,958 | $ | 53,536 | $ |
494,882 | $ | 322,760 | |||||
| Weighted average number of units | 203,338,999 | 203,338,999 | 203,338,999 | 203,338,999 | |||||||||
| FFO per unit | $ | 0.0010 | $ | 0.0007 | $ |
0.0028 | $ | 0.0021 | |||||
| AFFO per unit | $ | 0.0009 | $ | 0.0003 | $ |
0.0024 | $ | 0.0016 | |||||
|
September 30, 2023 | December 31, 2022 | ||||||||||||
| Unitholder equity | 18,170,075 | 21,801,627 | |||||||||||
| NAV per unt | 0.089 | $ | 0.107 | ||||||||||
| NAV per unt (C$) | 0.121 | $ | 0.144 | ||||||||||
| 截至三個月 | 九個月結束 | ||||||||||||
| 9月30日 | 9月30日 | ||||||||||||
| 2023年年 | 2022 | 2023年年 | 2022 | ||||||||||
| 單位持有人應佔淨收益(虧損) | |||||||||||||
| 單位持有人 | $ | (3,801,441) | $ | 132,718 | $ |
(3,342,992) | $ | 503,638 | |||||
| 調整以達到FFO | |||||||||||||
| 公允價值調整至 | |||||||||||||
| 投資物業 | 10,658,017 | 181,714 | 10,756,179 | 191,866 | |||||||||
| 房地產稅未計入 | |||||||||||||
| IFRIC 21 | (217,800) | (190,200) | (653,400) | (570,600) | |||||||||
| 非控制性權益 | (5,115,706) | 4,158 | (4,950,362) | 185,580 | |||||||||
| 遞延所得稅 | (1,323,819) | 9922 | (1234,829) | 106,047 | |||||||||
| 外幣折算損失(收益) | 8,296 | 7898 | (63) | 4081 | |||||||||
| 運營資金(FFO) | 207,547 | 146,210 | 574,533 | 420,612 | |||||||||
| 調整以達到AFFO | |||||||||||||
| 資本支出 | (58,017) | (181,714) | (156,179) | (191,866) | |||||||||
| 非控制性權益 | 28,428 | 89,040 | 76,528 | 94,014 | |||||||||
| 調整後的運營資金(AFFO) | $ | 177,958 | $ | 53,536 | $ |
494,882 | $ | 322,760 | |||||
| 加權平均單位數 | 203,338,999 | 203,338,999 | 203,338,999 | 203,338,999 | |||||||||
| 每單位FFO | $ | 0.0010 | $ | 0.0007 | $ |
0.0028 | $ | 0.0021 | |||||
| 單位AFFO | $ | 0.0009 | $ | 0.0003 | $ |
0.0024 | $ | 0.0016 | |||||
|
2023年9月30日 | 2022年年12月31日 | ||||||||||||
| 單位持有人權益 | 18,170,075 | 21,801,627 | |||||||||||
| 每單位淨資產淨值 | 0.089 | $ | 0.107 | ||||||||||
| 每單位淨資產淨值(C$) | 0.121 | $ | 0.144 | ||||||||||
About Sun Residential REIT
關於Sun Residential REIT
Sun Residential Real Estate Investment Trust is an unincorporated open-ended real estate investment trust established pursuant to a declaration of trust dated January 22, 2019, as amended and restated on March 22, 2019 and November 4, 2020. The business of Sun is to acquire multi-family residential properties in the Sunbelt region of the United States.
太陽住宅房地產投資信託是根據2019年1月22日的信託聲明成立的非法人地位的開放式房地產投資信託，該聲明於2019年3月22日和2020年11月4日進行了修訂和重述。Sun的業務是收購美國SunBelt地區的多戶住宅物業。
Caution regarding forward-looking statements
有關前瞻性陳述的注意事項
Forward-looking statements in this news release, including the timing of the development of the Cape Coral property, and elsewhere reflect Sun's current assumptions, expectations, and projections. Often, but not always, forward‐looking statements can be identified by words such as "planned," "expected, "anticipated," "our view," or "believes," or variations of such words and phrases or state that certain actions, events, or results "may," "could," "would," "might," "should," or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Sun's actual results or achievements to be materially different from those expressed or implied by the forward-looking statements. The forward-looking statements made in this news release relate only to events or information as of the date hereof. All forward-looking statements are based on assumptions that may prove to be incorrect. Furthermore, forward-looking statements are qualified in their entirety by the inherent risks, uncertainties and changes in circumstances surrounding future expectations that are difficult to predict and mostly beyond the control of Sun.
本新聞稿中的前瞻性陳述，包括開發珊瑚角地產的時間以及其他方面，反映了太陽公司目前的假設、預期和預測。通常，但並非總是，前瞻性陳述可以通過“計劃的”、“預期的”、“預期的”、“我們的觀點”或“相信”等詞語或這些詞語和短語的變體來識別，或陳述某些行動、事件或結果“可能”、“可能”、“將”、“可能”、“應該”或“將”被採取、發生或實現。前瞻性陳述涉及已知和未知的風險、不確定因素和其他因素，這些風險、不確定性和其他因素可能會導致太陽公司的實際結果或成就與前瞻性陳述中明示或暗示的大不相同。本新聞稿中的前瞻性陳述僅涉及截至本新聞稿發佈之日的事件或資訊。所有前瞻性陳述都是基於可能被證明是不正確的假設。此外，前瞻性陳述整體上受到圍繞未來預期的固有風險、不確定性和環境變化的限制，這些風險、不確定因素和環境變化很難預測，而且大多超出了太陽公司的控制範圍。
Except as specifically required by Canadian securities law, Sun undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Many factors will cause actual results to differ, perhaps materially, from results in the forward-looking statements: for a description of such factors please refer to the Management's Discussion and Analysis for the three months ended September 30, 2023 available at or at .
除非加拿大證券法特別要求，否則太陽微電子沒有義務公開更新或修改任何前瞻性陳述，無論是由於新資訊、未來事件還是其他原因。許多因素會導致實際結果與前瞻性陳述中的結果大不相同：有關這些因素的描述，請參閱管理層關於截至2023年9月30日的三個月的討論和分析，可在或在。
For further information, please contact:
如需更多資訊，請聯繫：
Robert C. Wetenhall Jr.
Chief Executive Officer
rwetenhall@sunresreit.com
小羅伯特·C·韋登霍爾
首席執行官
郵箱：rweetenall@sunresreit.com
Jeffrey D. Sherman,
Chief Financial Officer
jsherman@sunresreit.com
(416) 214-2228
傑弗裡·D·謝爾曼
首席財務官
郵箱：jsherman@sunresreit.com
(416)214-2228
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
多倫多證券交易所創業板交易所及其監管服務提供商(該術語在多倫多證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
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要查看本新聞稿的源版本，請訪問
譯文內容由第三人軟體翻譯。