NTT UD REIT lifts profit on asset sale, but next payouts lean on reserves
NTT UD REIT's April half-year revenue slipped 1.8% to ¥13.0bn, but net income rose 31.7% to ¥5.1bn after a partial Shinbashi sale gain, and the current distribution held at ¥3,140. Management guides to ¥3,100 for each of the next two periods with reserve reversals built in, while also adding a ¥1.05bn Osaka housing acquisition, a refinancing loan and a buyback of up to 22,000 units.