6th Aug 2021 09:08
(Alliance News) - Civitas Social Housing PLC on Friday said it was performing robustly and in line with expectations at the start of its new financial year.
The Exeter, England-based real estate investment trust reported an IFRS net asset per share of 108.42 pence on June 30, rising 0.5% from 107.92p a year previous. Portfolio NAV per share rose 0.9% to 119.51p from 118.40p.
The FTSE 250-listed company noted an independent portfolio net asset value valuation of GBP743.9 million on June 30, up 1.1% year-on-year from GBP736.1 million.
Civitas Social Housing, which invests in social care housing and healthcare facilities, purchased 28 new supported living properties across England and Wales for a total price of GBP22 million in its first quarter that ended June 30.
The company noted no negative impact from the virus pandemic, reporting that 99% of rents were collected in the quarter.
With income steady, the company issued its first quarterly dividend of 1.3875p, with plans to target a total payout of 5.55p in the full financial year.
The year prior, Civitas Social Housing reported a 1.35p interim payout for the same period and had targeted a 5.4p total dividend.
With regard to outlook, the company said it is considering a "strong and diverse pipeline of new and accretive investment opportunities".
Shares in Civitas Social Housing were trading up 0.1% at 120.74 pence each in London on Friday.
By Scarlett Butler; [email protected]
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