Alliance News) - LXi REIT PLC on Monday said it is able to maintain a progressive dividend as it indicated that its end-September EPRA net tangible assets will fall compared to late-March.
LXi REIT is a London-based commercial real estate-focused investment trust.
The firm expects EPRA NTA at the half-year end on September 30 of at least 139 pence per share, which would be 2.5% lower compared to 142.6p at March 31. LXi REIT said it collected all of the rent due for the half-year.
Regarding payouts, it said: "Our growing income, robust 100% fixed or capped debt position and the board and management team's strong alignment with shareholders further supports our confidence in continuing to deliver on our fully covered and progressive dividend."
LXi REIT shares were 0.3% lower at 120.10 pence each in London on Monday morning.
By Tom Budszus; tombudszus@alliancenews.com
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