ATLANTA--(BUSINESS WIRE)--UC Asset LP (OTCQX: UCASU)’s management announced that the firm projects a net equity increase of $0.07 per share for the year of 2019, based on unaudited accounting results.
According to the unaudited results, UC Asset shareholder’s net equity increased from approximately $8.35 MM by the end of 2018, to approximately $8.78 MM by the end of 2019, which equals a 5.1% increase YoY. Considering the change of the weighted number of common units, this result translates into a $0.07 increase of net equity per share.
“We are pleased with these results although it shows moderate growth,” says Larry Wu, founder of UC Asset LP. “2019 is a year of slower market growth in both metro Atlanta and Dallas, where we’ve built our portfolio. For nearly the entire year, we’ve had to freeze our business operations in capital raising and M&A, because we were subject to FINRA review in order to get quoted on OTC markets. Despite these limitations, we have outperformed the local real estate market. I would extend my appreciation to our management team, led by my partner Greg Bankston.”
“I am confident that we will have a much higher growth in 2020, because we’ve completed FINRA review and our shares are traded on OTCQX. We now are able to execute our upgraded business plan for higher ROI,” says Wu.
The upgraded business plan, according to the management of UC Asset, is a “Warren Buffett-style strategy” which focuses on acquiring assets of greater potential for long-term value appreciation. UC Asset is formed as an MLP (Master Limited Partnership), not as the more popular form of REITs, and is not under pressure to produce cash dividends. UC Asset is instead focused on acquiring and improving properties, which may need extra time and additional cash investment, but will potentially yield better ROI in the long term.
“Our goal is to achieve a net equity per share increase which aims to outperform the increase of Standard & Poor 500 index,” Wu explains. “We will grow our net equity to $100 MM through both M&A and organic growth.”
About UC Asset LP
UC Asset LP is a limited partnership formed for the purpose of investing in real estate for development and redevelopment, concentrating in metropolitan areas of Atlanta, GA and Dallas, TX. For more information about UC Asset, please visit: www.ucasset.com.
This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this News Release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.