(Alliance News) - Schroder Real Estate Investment Trust Ltd on Monday said its performance improved in the final quarter of 2020.
The UK-focused investment firm said its net asset value for the three months to the end of 2020 was GBP293.3 million or 58.8 pence per share. This reflects an increase of 1.4% per share compared with the NAV as at the end of September 2020.
Based on the quarterly dividend paid of 0.575p per share, up 9% quarter-on-quarter, the NAV total return was 2.4% for the period, with a like-for-like portfolio valuation increase offset by capital expenditure and one off acquisition costs.
The company said its rent collection remains strong. In addition, following two acquisitions in December, the portfolio weighting towards the industrial sector has increased to 37% from 30% over the quarter.
During the quarter, the company said it purchased back 12.8 million shares at an average price of 34.5p each.
Schroder Real Estate Investment Trust shares were trading 1.1% higher in London on Monday at 40.05p each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Schroder Real (SREI)