(Alliance News) - AEW UK REIT PLC on Friday said it remains confident on delivering its objectives despite weak performance in the second quarter.
The company, which invests in the UK commercial property assets, said NAV per share as at September 30 stood at 97.36 pence, down 0.5% from 97.87p as at the end of June.
As at September 30, the company said it owned investment properties with a fair value of GBP196.05 million.
The trust declared an interim payout of 2.00p a share for the quarter to the end of September. Based on current market conditions, the company said it expects to pay an annualised dividend of 8.00p per share for the year ending March 31.
AEW UK REI shares were trading 0.1% lower on Friday in London at 94.50p each.
"Despite the backdrop of ongoing political uncertainty, the company remains confident in its ability to deliver on its objectives. The value of our assets has remained robust to date, particularly in the office and industrial sectors, where assets have either been acquired at conservative levels or provide exciting value-add opportunities," said Portfolio Manager Alex Short.
He added: "Despite our positive outlook for the portfolio, we are conscious of the opportunity to limit downside risk in an uncertain macro environment and, with this in mind, we have recently taken a number of steps to reduce risk associated with the company's debt facility."
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Aew Uk Reit (AEWU)