Date: Wednesday 22 Jan 2014
LONDON (ShareCast) - Schroder Real Estate Investment Trust’s shares rose after reporting a 4.2 per cent rise in quarterly net asset value (NAV).
The company’s NAV at the end of December 31st 2013 was £168.5m, compared to £161.6 at the end of September.
The property portfolio at the end of the quarter was comprised of 52 properties independently valued at £279.59m and produced rent of £18.97m per annum. Based on the Knight Frank independent valuation, the rent reflected a net initial yield of 6.4%.
The portfolio's rental value is £21.56m per year, resulting in a reversionary yield of 7.3%. Following letting and lease restructuring activity over the quarter the portfolio will benefit from additional fixed rental uplifts of £1.8m annually due by December 2015.
The group said the completion of a refinancing in April and progress with accretive asset management has provided a “solid platform from which to potentially enhance returns to shareholders through a gradual increase in size”.
Earlier this month the group announced the placement of 35,592,128 new ordinary shares (at a price of 48.25p), raising gross proceeds of approximately £17.17m.
Proceeds were used to acquire The Arndale Centre in Headingley for £16.23m, which was completed on January 15th.
Shares rose 2.88% to 53.50p at 11:03 on Wednesday.
RD
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Currency | UK Pounds |
Share Price | 44.90p |
Change Today | -0.100p |
% Change | -0.22 % |
52 Week High | 46.40 |
52 Week Low | 39.60 |
Volume | 272,924 |
Shares Issued | 489.11m |
Market Cap | £219.61m |
Value |
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Price Trend |
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Income |
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Growth |
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Latest | Previous | |
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3rd Interim | 2nd Interim | |
Ex-Div | 07-Mar-24 | 30-Nov-23 |
Paid | 28-Mar-24 | 22-Dec-23 |
Amount | 0.84p | 0.84p |
Time | Volume / Share Price |
16:39 | 41,560 @ 44.90p |
16:35 | 13,986 @ 44.90p |
16:35 | 946 @ 44.90p |
16:35 | 1,136 @ 44.90p |
16:35 | 1,929 @ 44.90p |
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