Schroder European Real Estate Investment Trust PLC - London and Johannesburg-listed property investor - Says the direct property portfolio is independently valued at EUR210.2 million in the first quarter that ended December 31, down 1.8% on a like-for-like basis. Says this is due to continued outward yield movement, particularly for offices and select industrial properties. The portfolio office witnessed a valuation decline of 2.5%, while the portfolio industrial saw a valuation decline of 1.2%.
Schroder European Real Estate says it remains well positioned, with significant cash reserves, and continues to review select sustainability-led capital expenditure initiatives in the portfolio, which should optimise earnings growth and asset liquidity.
Current stock price in Johannesburg: ZAR16.00
12-month change: down 11%
Stock price in London: 67.40 pence
12-month change: down 19%
By Artwell Dlamini, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
Schroder Eur.r (SERE)