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IN BRIEF: Hibernia REIT reports reduced rental income in first half

Fri, 19th Nov 2021 14:28

Hibernia REIT PLC - Dublin-based real estate investment trust - Reports net asset value for the six months to September 30 of 173.5 euro cents, a slight slip from 173.6 cents posted at the end of March. Net rental income falls to EUR31.4 million in the six months to September 30 from EUR32.0 million year-on-year, due to planned lease expiry at Clanwilliam Court and Marine House. The company's portfolio value, meanwhile, rises to EUR1.45 billion as at the end of September from EUR1.43 billion on March 31.

"Our business continues to perform well, with strong rent collection, a stable portfolio valuation and new lettings agreed supporting an interim dividend of 2.0 cent per share, the same as last year," says Chief Executive Kevin Nowlan.

Current stock price: 106.80 pence

Year-to-date change: up 8.8%

By Evelina Grecenko; evelinagrecenko@alliancenews.com