17th Aug 2018 10:09
LONDON (Alliance News) - Alpha Real Trust Ltd on Friday said its net asset value increased in the first quarter of its current financial year, and it remains confident about the future.
Net asset value per share rose to 174.8 pence in the three months to the end of June from 172.9p reported at the end of March.
The stock was trading down 0.3% at 127.10p per share.
Adjusted earnings per share declined to 1.1p from 3.5p for the last financial year and basic earnings per share fell to 1.8p from 18.5p.
Alpha declared a quarterly dividend of 0.6p per share, unchanged from the year prior.
The company said in the first quarter it continued to apply capital to a mix of investments which "balance income returns while creating potential for capital value growth, including a growing focus on build-to-rent".
It also completed five further mezzanine loan investments, worth GBP6.2 million, as part of an agreement made with a specialist finance provider, to co-invest and create a portfolio of mezzanine loan investments.
Looking ahead, Alpha said it continues to evaluate additional loan investments to rotate repayment proceeds into new loans.
"During the period the company has increased its loan investment portfolio," Alpha said in the statement. "The company remains well positioned to continue to deliver attractive returns through investing, realising and reinvesting its capital in asset backed investment opportunities."
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