28th Feb 2020 13:53
(Alliance News) - Alpha Real Trust Ltd said Friday its net asset value per share was slightly lower for the period ended December 31.
The trust targets investment, development, and financing in real estate, as well as in real estate operating firms and securities. It also invests in infrastructure services and other asset-backed businesses.
As at December 31, the company's NAV per share was 212.7 pence, down from 213.5 pence on September 30.
"The movement in NAV mainly reflects the earnings of the company less the dividend paid in the period less negative foreign currency movements," Alpha Real Trust said.
Meanwhile adjusted earning for the period was 4.8 pence per share, up from 3.0 pence at September 30.
The trust declared quarterly dividend of 1.0 pence per share, the same as in the quarter before, expected to be paid on April 9.
The company said it has now increased its portfolio weighting towards secured loan investment, and continues to augment and diversify its portfolio of secured senior and secured mezzanine loan investments.
At December 31, 2019, the size of the company's secured loan portfolio was GBP48.0 million, representing 39.4% of the investment portfolio.
During the period, Alpha also secured a favourable ruling from the Supreme Court of India in relation to the company's ongoing Galaxia joint venture dispute, and Logix Group being ordered to pay GBP9.3 million to the company.
Looking forward, the company said it continues to actively reposition its investment to deliver attractive income returns.
Alpha Real Trust shares were trading 1.9% lower in London at 200.06 pence each on Friday.
By Loreta Juodagalvyte; [email protected]
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