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Regional REIT Ltd - UK-focused real estate investment trust - Says portfolio valuation as at the end of 2020 was GBP732.4 million, lower than GBP787.9 million at the end of 2019. The like-for-like value of the portfolio decreased in the second half of 2020 by 2.9%, a like-for-like decrease of 7.2% for the year, after adjusting for capital expenditure and disposals during the period, the company explains. Regional REIT says it will pay a dividend of 1.50 pence per share for the period from October 2020 to the end of 2020, down 21% from 1.90p paid a year before.
"We look forward to 2021 as we progress our strategy of re-focusing our portfolio solely on the highly attractive regional office market. We have confidence in the office sector and believe through careful asset selection and our asset management skills, we will continue to deliver a high yield and capital value growth to our shareholders over the long-term," says Chief Executive Stephen Inglis.
Current stock price: 76.20 pence
Year-to-date change: down 7.6%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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