CT Property Trust Ltd - real estate investment trust, formerly known as BMO Real Estate Investments - Reports net asset value per share as at June 30 at 132.8 pence, representing an increase of 30% from 102.1p a year prior. The share price was 84.0p per share as at June 30, which is a discount of 37% to the NAV per share of 132.8p. CT Property Trust pays a dividend of 4.0p per share for the year, up 26% from 3.175 for financial year 2021. Firm cites strong rent collection, growing to 99% from 98%.
Portfolio returns 27%, outperforming MSCI UK Quarterly Property Index, which returns 19%. "This return was underpinned primarily by strong investor demand, supported by robust rental growth within an occupational market buoyed by the growth of e-commerce and demand from companies shoring up their supply chains," CT Property explains.
Looking ahead, the firm notes economic headwinds, but says the pipeline of asset management opportunities is strong.
Current stock price: 72.60 pence
12-month change: down 9.9%
By Tom Budszus; tombudszus@alliancenews.com
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