(Alliance News) - TR Property Investment Trust PLC said on Wednesday it had seen a good set of half-year results despite the ongoing troubles caused by Covid-19, leading to the property investor bumping up its interim dividend.
At September 30, the London-based investment trust reported a net asset value per share of 474.34 pence, up 14% from 417.97p at March 31.
TR Property's share price also rose over the period by 20% to 470.00p at September 30 from 392.50p at March 31.
On Wednesday around midday, shares in TR Property were down 0.1% at 497.00p in London.
The trust said that its NAV total return was 15.6% for the six months ended September 30, down from 20.7% for the six months ended March 31. UK property companies collectively returned 12.5% in GBP terms.
TR Property declared an increased interim dividend of 5.30p. This is a 1.9% increase from its last interim dividend of 5.20p.
In regard to its investment activity, the trust said it had been trying to get more exposure to retail warehousing. This involved the company bidding on various physical investment opportunities and then securing 7% of the equity of the Edinburgh-based real estate developer, Ediston Properties.
By Heather Rydings; heatherrydings@alliancenews.com
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TR Property Investment Trust (TRY)