29th Jan 2020 10:41
(Alliance News) - Civitas Social Housing PLC on Wednesday said its net asset value rose marginally over the third quarter of its financial year, as did its rent roll.
At the end of December, the real estate investment trust's IFRS net asset value per share was 107.55 pence, up from 107.23p as at September 31.
Civitas's annualised rent roll for the three-month period came to GBP47.2 million, up 1.5% from GBP46.5 million the prior quarter.
The trust said it has partially drawn the proceeds of the GBP60 million five-year facility with National Westminster Bank, which has been applied to new investments due to be completed soon, and expects to draw the remaining funds from the facility shortly.
Within the three-month period, Civitas acquired nine new properties for a total of GBP7.1 million.
The trust declared a quarterly dividend of 1.325 pence per share, up from 1.25p the same period the year before.
"The company's pipeline of investment opportunities remains robust and comprises new and existing schemes and properties that have typically been brought together by Civitas directly. This reflects the company's active engagement with a range of property-owning specialist care providers and other sector counterparties. Civitas expects this focus on the generation of bespoke opportunities to remain a core element of the company's investment process," the trust said.
Shares in Civitas Social Housing were up 0.3% at 97.60 pence on Wednesday in London.
By Dayo Laniyan; [email protected]
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