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(Alliance News) - Tritax EuroBox PLC on Wednesday reported an increase in its net asset value per share in the first quarter of 2019 as the value of its investments rose.
The logistics real estate investor said basic NAV increased to EUR329.4 million as at March 31 from EUR326.0 million reported at the end on 2018, resulting in NAV per share of EUR1.10 and EUR1.09, respectively. During the period, the company distributed 0.4 cents per share dividend.
Tritax EuroBox said its portfolio of seven assets was independently valued at EUR486.6 million, reflecting a like-for-like valuation increase of 0.7% over the three months ended March 31.
Contracted annual rental income stood at EUR26.1 million as at March 31, with two lettings secured during the quarter.
Since the end of March, Tritax EuroBox has completed the acquisition of two further assets, in Lodz, Poland, and Hammersbach, Germany, with an aggregate acquisition price of EUR105.6 million. As a result, the current portfolio of nine assets has a contracted annual rental income of EUR31.7 million.
The stock was trading 0.2% lower on Wednesday morning in London at 96.80 pence a share.