1st Nov 2018 14:06
LONDON (Alliance News) - Civitas Social Housing PLC on Thursday saw a rise in net asset value in the third quarter of 2018.
The regulated supported-living property specialist reported a 0.2% rise in IFRS net asset value to 106.1 pence per share for the three months to the end of September from 105.8p the quarter before.
Civitas' portfolio net asset value rose by 0.2% to 115.2p per share from 115.0p the prior quarter.
The company declared a dividend of 1.25 pence per ordinary share.
During the period, Civitas acquired 82 properties, bringing the September 30 total to 522 from 440 at June 30.
"Demand for high quality Specialist Supported Housing is high and there is increasing competition for assets. The company continues to decline unsuitable transactions and utilises its relationships, existing agreements and buying power to acquire good quality properties at competitive prices that remain within the yield range set out at the time of IPO in 2016, whilst noting that there has been an element of yield compression within the market," the company said in a statement.
Shares in Civitas Social Housing were up 0.9% at 111.0 pence on Thursday.
Related Shares:
CSH.L