Hulic REIT, Inc. Reports Unaudited Earnings Results for the Six Months Ended February 28, 2017; Provides Earnings Guidance for the Period Ending August 31, 2017 and for the Period Ending February 28, 2018
April 14, 2017
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Hulic REIT, Inc. reported unaudited earnings results for the six months ended February 28, 2017. For the period, the company reported total operating revenues of JPY 6,685,656,000. Operating income was JPY 3,896,170,000. Ordinary income was JPY 3,453,430,000. Profit before income taxes was JPY 3,453,430,000. Profit was JPY 3,452,588,000. Net cash provided by operating activities was JPY 3,628,718,000. Purchase of property, plant and equipment was JPY 31,101,093,000. Basic earnings per unit were JPY 3,355 per unit. Return on equity was 2.7%.
For the period ending August 31, 2017, the company expects operating revenues to be JPY 7,025 million. Operating income is expected to be JPY 3,925 million. Ordinary income is expected to be JPY 3,450 million. Profit is expected to be JPY 3,449 million. Basic earnings per unit are expected to be JPY 3,300 per unit.
For the period ending February 28, 2018, the company expects operating revenues to be JPY 7,113 million. Operating income is expected to be JPY 3,982 million. Ordinary income is expected to be JPY 3,481 million. Profit is expected to be JPY 3,480 million. Basic earnings per unit are expected to be JPY 3,330 per unit.
For the period, the company reported distributions of JPY 3,304 per unit. Scheduled date to commence payment of distributions is May 15, 2017.
Hulic Reit Inc is a Japan-based diversified real estate investment trust (REIT). The Trust aims to maximize unitholder value by maintaining and improving earnings over the medium to long term and by achieving growth in the size and value of assets under management. The basic investment policy is to position Tokyo Commercial Properties as a priority investment target, investing about 80% of its portfolio. The investment targets are office and retail properties. In addition, the Trust also invest about 20% of its portfolio in Next Generation Asset Plus, which investment targets include fee-based nursing homes, network centers, and hotels. The asset management company is Hulic Reit Management Co Ltd.
Hulic REIT, Inc. Reports Unaudited Earnings Results for the Six Months Ended February 28, 2017; Provides Earnings Guidance for the Period Ending August 31, 2017 and for the Period Ending February 28, 2018