(Alliance News) - Schroder European Real Estate Investment Trust PLC on Monday emphasized its "stable balance sheet" and "defensive" portfolio.
The investor issued an impromptu update due to the "market uncertainty relating to Covid-19".
Schroder European said its loan to value was roughly 30% at December 31, within its target range, and the company added no loan matures until 2023.
"The SEREIT portfolio comprises 13 assets and approximately 100 tenants across multiple countries, winning cities and sectors, with a broad spread of lease expiries," the company added.
Schroder European explained it has a 25% exposure to the retail sector. Some countries have implemented lockdowns, hindering sales of retail companies.
"The manager continues to be focused on active management to improve the defensive characteristics of the portfolio. The company remains an attractive and differentiated long term investment proposition given its underlying diversification and exposure to those winning cities and regions in continental Europe," the investor added.
Shares in the company were 0.1% higher at 62.84 pence each in London on Monday morning. In Johannesburg, it was 12% lower at ZAR14.49.
By Eric Cunha; ericcunha@alliancenews.com
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Schroder Eur.r (SERE)