(Alliance News) - BMO Real Estate Investments Ltd on Monday reported a rise in net asset value over the second half of 2021, driven by a stronger performance in its property portfolio.
The real estate investor's net asset value per share as at June 30 was 102.1 pence, up 3.0% from 99.1p at the end of March.
This was driven by a 2.1% rise in BMO's property portfolio at GBP325.6 million from GBP318.8 million as at March 31, with the vaccine rollouts and further relaxing of restrictions improving consumer, business and investor sentiment.
Over the quarter, BMO has collected 98% rent that was due, of total of which comes to GBP4.2 million. For the fifteen-month period, billed between March 26, 2020 and June 1, the company has collected 96% of rent, with the total being billed at GBP20.9 million.
For the third quarter, BMO has billed GBP3.0 million of rent due from June 24 to date, and has so far collected 84% of that amount.
Shares in BMO Real Estate Investments were up 3.4% at 76.91 pence on Monday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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