17th Jun 2016 08:29
LONDON (Alliance News) - Alpha Real Trust Ltd on Friday said it "continues to allocate capital to assets which are expected to generate the best risk-adjusted returns" and has the "agility and financial reserves" to take advantage of investment opportunities that meet its criteria, and reported a jump in its net asset value per share in its last financial year.
In a statement, the company reported a net asset value per share of 137.9 pence as of March 31, versus 113.2p a year earlier. The company declared a dividend of 0.6p per share, to be paid on July 22.
"The company's portfolio provides a balance of stable high yielding investments and investments that offer scope to deliver strong cashflows and high risk adjusted returns," Chairman David Jeffreys said in a statement.
During the past year, Jeffreys said Alpha Real Trust has had "notable asset management successes" within the portfolio's underlying assets.
He said the H2O Madrid shopping centre attracted "record" visitor numbers in 2015 and the first quarter of 2016, "which has enabled our tenants to deliver strong retail sales growth and helped the centre secure new lease signings".
"Leasing success is also being reported in the IMPT (Industrial Multi Property Trust) and AURE (Active UK Real Estate Fund) portfolios in the UK, which bodes well for rental growth potential," Jeffreys said.
Alpha Real Trust's "earning position" is supported by underlying asset performance, he said. "In addition, capital recycling is anticipated to continue as a small number of selected strategic divestments is planned to obtain prices that are accretive to returns."
"The delivery of the build and hold strategy for the new investments made during the year, both in the PRS (private rented sector) and renewable energy infrastructure sectors, is being advanced with planning and project design improvements underway. These projects represent opportunities to generate long term income streams off a lower entry cost," the chairman said.
"Along with the acquisition of shares in AURE, which provide exposure to growth in the UK commercial sector, the new investments made during the year demonstrate our specialist approach to secure assets that meet ART's selective investment criteria," he said.
Shares in Alpha Real Trust were up 4.2% at 86.50 pence on Friday.
By Samuel Agini; [email protected]; @samuelagini
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