(Alliance News) - Schroder European Real Estate Investment Trust PLC said it is benefiting from easing lockdowns across Europe, but will still consider the payment of future dividends.
As at May 20, the real estate investment trust said it has received 83% of payments on monthly rents for April and May.
Of Schroder European's total portfolio, 25% is in the retail sector. Within this sector, there is a Lidl supermarket in Frankfurt and a Hornback DIY unit in Berlin which have both remained open for trade.
The only shopping centre in the portfolio is the Metromar Centre in Seville, Spain, which partly reopened on Monday.
"Already we are seeing the easing of lockdown measures across the geographies that we operate in positively impacting on the portfolio. We are taking a methodical approach to asset management, working closely with all our tenants to ensure we have a clear pathway to income visibility, whilst taking measures to protect the long-term interests of our shareholders," said Fund Manager Jeff O'Dwyer.
Shares in Schroder European REIT were up 6.2% at 71.8 pence on Thursday in London, while its Johannesburg shares were 1.9% lower at ZAR14.70.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Schroder Eur.r (SERE)