Shares in Malaysia-based real estate investment trust (REIT) United Overseas Australia Limited (ASX: UOS) are flat at 77.5 cents today despite the group guiding investors to expect an unaudited net profit of $49 million in financial year 2019. This would represent growth of around 14% on the prior year's result of $43 million.
Over the past year the shares are up around 20% from 65 cents a share with the group paying 5.5 cents per share in dividends along the way. That places it on a term-deposit-thumping yield of 7%, although without franking credits as the group earns its profits overseas.
UOS is also investing heavily in new commercial developments that could help grow cash flows into the future.
Other more well known REIT or commercial property businesses that have performed superbly over the past year include Charter Hall Group (ASX: CHC) and Mirvac Group (ASX: MGR). They are up 71% and 32% respectively which goes to show how the ultra-low rate environment is leading investors to bid traditional yield shares higher.
