IN BRIEF: Regional REIT reduces dividend in challenging markets
Regional REIT Ltd - commercial property investor - Pretax loss in 2023 widens to GBP67.4 million from GBP65.2 million the year prior, loss per share totals 13.1 pence compared to 12.6p. Net rental and property income falls to GBP53.7 million from GBP62.6 million. Pays total dividend of 5.25p per share, down from 6.60p. Says the rent roll remained robust at GBP67.8 million, down from GBP71.8 million, and the EPRA occupancy stands at 80% compared to around 83% last year. EPRA net tangible assets reduced to GBP290.8 million from GBP379.2 million. This was the result of investment property portfolio revaluation which reflected the challenging market environment, company says. Expects the macroeconomic challenges to remain in the near term, particularly around the availability of funding, given the prolonged monetary policy tightening. Operationally, says the company continues to perform well. Read More