UH Real Estate Investment Trust jumps 27% in March, hits N56.90

UH Real Estate Investment Trust (UH REIT) has recorded a significant surge in the Nigerian stock market this March, climbing 27% month-to-date to surpass N55 as of market open on March 21, 2025.

The bullish momentum follows the release of UH REIT’s full-year 2024 financial report, which showed a 54.6% increase in pre-tax profit to N1 billion, up from N698.5 million in the previous year.

The trust also reported a total income of N1.2 billion, marking a 43.37% rise from N884.2 million in 2023.

Market performance and trend

UH REIT’s price rally began in February at N36.60, gaining 20.90% that month on a market volume of 572.7 million after months of inactivity. The momentum continued in March, with the stock climbing from N44.70 to N56.90 as of March 21.

The trust has sustained its growth trend, recording a market volume of N2.7 million this month and reinforcing its position as a strong performer in the real estate investment sector.

Financial highlights

• Total income: N1.2 billion (+43.37%)
• Pre-tax profit: N1 billion (+54.6%)
• Rental income: N618.9 million
• Sundry income: N335.4 million
• Interest income: N313.4 million
• Operating expenses: N221.7 million (+6.9%)

UH REIT also reported cash and cash equivalents of N2 billion, up from N1.3 billion, with treasury bills making up N1.9 billion of the total. Additionally, the value of the trust’s investment properties stood at N9.2 billion, reinforcing its strong asset base.

With its sustained bullish trend and robust financial performance, UH REIT remains a standout in the Nigerian stock market, attracting increased investor confidence.