16th Jan 2020 15:05
(Alliance News) - AEW UK REIT PLC on Thursday reported broadly flat performance in the recent quarter but said it is exploring potential acquisitions and fundraising.
The company said its fair value independent valuation of the property portfolio as at the end of 2019 was GBP195.8 million, slightly below September 30 valuation of GBP196.1 million. On a like-for-like basis, the valuation of the property portfolio decreased by 0.1% over the quarter.
On December 31, AEW UK REIT's net asset value stood at 97.24 pence per share, broadly flat compared to 97.36p on September 30, 2019.
The company declared an interim dividend of 2.00p a share for the three months to the end of 2019, up from 1.33p paid a year ago, and said it continues to target an annual payout of 8.00p.
The stock was trading 1.7% higher in London on Thursday at 99.67p a share.
"We are actively working on an exciting pipeline of potential acquisitions with a particular focus on the industrial and office sectors, which we believe will be accretive to the strategy both in terms of income but also in terms of long term value retention and creation opportunities. To that end, the company intends to raise additional capital under its existing placing programme in the near future," said Portfolio Manager Alex Short.
By Evelina Grecenko; [email protected]
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