27th Apr 2018 13:35
LONDON (Alliance News) - AEW UK REIT PLC said on Friday it saw a fall in net asset value on a quarter-to-quarter basis due to purchase costs.
Net asset value for the three months to the end of March was GBP146.0 million, or 96.31 pence per share, down from GBP147.3 million or 97.21p per share as at December 31, due to purchase costs of up to GBP2.4 million from the acquisition of five properties in the period.
AEW UK's fair value valuation of its portfolio was GBP192.3 million, up from GBP151.59 million in the prior quarter, also stemming from the acquisition of five properties.
For the quarter, AEW UK declared a dividend of 2.00 pence per share.
"We continue to see selected new strong investment opportunities across all sectors and use our expert stock selection skills to identify and analyse these. There remains a heavy weighting towards the industrial sector within our pipeline and given the continued positive valuation performance of 2.0% across the company's industrial portfolio this quarter and the current low average passing rent of GBP3.44 per square foot, we consider that this segment in particular looks well placed to benefit from further growth," said Portfolio Manager Alex Short.
Shares in AEW UK REIT were up 0.2% at 96.00 pence on Friday.
Related Shares:
Aew Uk Reit