MaertinK.
We are thrilled to announce that Acorn Student Accommodation Income REIT (ASA I-REIT) has released its 2024 interim financials and half-year report. As part of the Vuka Investment Club, Vuka provides an aggregator platform allowing you to invest in and acquire units in the ASA I-REIT.
Financial Performance and Growth
For the period ending 30th June 2024, the ASA I-REIT continued its impressive growth trajectory. Key highlights include:
- Occupancy Rates: The average occupancy for all ASA I-REIT properties stood at 87% in H1 2024, up from 85% in H1 2023.
- Profit Increase: The REIT posted a remarkable 44.7% increase in profit, reaching K Shs 164.1 Mn from K Shs 113.3 Mn in H1 2023.
- Rental Income: There was a significant 64.5% increase in rental income, rising to K Shs 534.2 Mn from K Shs 324.8 Mn in the previous year.
Dividend Policy and Distributions
In line with its strong dividend policy, the ASA I-REIT has announced an interim distribution of K Shs 99.0 Mn. This translates to K Shs 0.30 per unit held, marking a 14.0% increase compared to the interim distribution of K Shs 70.7 Mn in H1 2023. The interim distribution yield is 1.3%.
Net Asset Value (NAV) Growth
The I-REIT registered a 3% growth in NAV per unit, increasing to KES. 22.21 from KES. 21.65 in June 2023. Additionally, the absolute NAV has grown by 17% year on year, underscoring the robust performance and growth potential of the REIT.
For a detailed look at the 2024 half-year report, visit ASA I-REIT 2024 Semi-Annual Report.
Stay tuned for more updates and opportunities to invest with Vuka Investment Club.
