Regional REIT Ltd - London-based real estate investment trust - Rent collection for the first quarter of 2023 edges down to 96.3% from 97.1% in the prior year. Gross property assets were down 8.9% at GBP792.4 million at quarter-end from GBP874.0 million at the same time a year prior. Gross rent roll at quarter-end slightly rose by 3.6% to around GBP71.0 million from GBP68.5 million the prior year. The company declares a dividend of 1.65 pence for the first quarter, unchanged from last year.
Chief Executive Officer of Regional REIT Stephen Inglis said: "We have yet again achieved strong rent collection for the quarter with EPRA occupancy remaining stable and encouraging levels of enquiries from prospective customers, though we are not immune from inflationary cost pressures."
Current stock price: down 1.7% at 51.90 pence
12-months change: down 38%
By Will Neill, Alliance News reporter
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Regional Reit (RGL)