LONDON (Alliance News) - Recently-listed Secure Income REIT PLC Tuesday said its net asset value per share had risen 6% above its initial public offering price by the end of June.
In a statement, the company said its European Public Real Estate Association net asset value stood at 184.5 pence on June 30, up from its June 5 IPO price of 174 pence a share.
Its net asset value stood at GBP189.2 million at the end of June, or GBP311.4 million on an EPRA basis. Adjusted EPRA earnings per share were 1.8p.
"The group is extremely well positioned to take advantage of the current rally in commercial property prices and the continuing quest from investors seeking secure income streams. We are geared for growth and can look forward to an annually rising rental income stream for the next 25 years secured against excellent covenants," Chairman Martin Moore said in a statement.
Secure Income REIT shares were up 2.2% at 260.00 pence Tuesday morning.
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
Copyright 2014 Alliance News Limited. All Rights Reserved.