29th Oct 2019 14:50
(Alliance News) - BMO Commercial Property Trust Ltd on Tuesday reported a fall in its net asset value per share for the third quarter of 2019.
The firm's net asset value per share at September 30 stood at 133.6 pence, down 2.0% from 136.3p at June 30. BMO Commercial Property posted a NAV total return of minus 0.9% for the quarter.
BMO Commercial Property said the market delivered a 0.6% all-property total return in the third quarter of 2019, according to the MSCI UK Monthly Property Index for standing investments.
The retail market continues to be hit by company voluntary arrangements, administrations and store rationalisation programmes, the company said, with the sector delivering a quarterly total return of minus 1.5%.
BMO Commercial Property said its property portfolio delivered a total return a minus 0.2% in the quarter, with the capital value of the portfolio falling 1.4%.
Shares in BMO Commercial Property were down 0.6% at 118.04 pence in London on Tuesday.
By Lucy Heming; [email protected]
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Related Shares:
Balanced Commercial Property Trust