25th Oct 2019 13:28
(Alliance News) - BMO Real Estate Investments Ltd said Friday its net asset value fell in the three month period to September 30, with retail segment being hit the worst.
The property investment firm said its net asset value per share was 104.0 pence as at September 30, down 0.8% from 104.8 pence at June 30. The firm added that a total return of the net asset per share for the quarter was 0.4%.
BMO Real Estate said its share price was 81.6 pence per share at September 30, representing a 21.5% to the net asset per share, with a total return of 3.5% for the quarter.
The company said its property portfolio delivered an ungeared total return of 0.8 % over the quarter to September, ahead of the MSCI UK Monthly Property Index for standing investments which recorded 0.6%.
Standard retail was worst hit with capital value falls of 5.5% from the regional assets and 2.1% from the South East Holdings, the company reported. "Investor sentiment remains particularly negative towards this sector, with continued poor news-flow from the occupier markets and transaction volumes depressed," BMO Real Estate said.
BMO Real Estate shares were down 0.4% in London at 87.49 pence each on Friday afternoon.
By Loreta Juodagalvyte; [email protected]
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