11th May 2020 10:37
(Alliance News) - Civitas Social Housing PLC on Monday said its rent collected to date has been unaffected by the Covid-19 pandemic.
The real estate investment trust focused on social care housing said it collected 99% of rent due for the quarter ended March 31, its year-end date. Its annualised rent roll was 2.5% higher at GBP48.4 million at the conclusion of the quarter, from GBP47.2 million at the end of December.
"The company's property portfolio has continued to perform strongly and in line with expectations. Rents have, to date, been received as expected, unaffected by Covid-19," Civitas said.
Civitas painted a more promising picture than other REITs, particularly those in the retail space, which have said the pandemic has meant some tenants have failed to pay rent.
Civitas posted a net asset value of 107.87 pence, up 0.3% quarter-on-quarter from 107.55p.
Its shares were 4.8% higher at 102.74p in London on Monday morning.
Civitas declared a quarterly dividend of 1.325p per share, flat year-on-year. It means its total payout for the year is 5.3p, up 6.0% from 5.0p. For the year ending March 2021, it expects to nudge its payout up 1.9% to 5.4p.
By Eric Cunha; [email protected]
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