12th Jun 2025 10:23
(Alliance News) - Custodian Property Income REIT PLC on Thursday said it looked to the future with confidence, as asset prices were showing signs of recovery.
The Leicester, England-based real estate investment trust said net asset value per share was 96.1 pence as at March 31, up 2.9% from 93.4p a year ago.
The company swung to a pretax profit of GBP38.2 million in the financial year ended March 31, from a loss of GBP1.5 million in financial 2024.
Rental revenue edged up 1.5% to GBP42.8 million from GBP42.2 million.
Pertinently, Custodian Property reported a gain on investment property and depreciation of GBP11.4 million, compared to a loss of GBP25.7 million in financial 2024.
The company declared a total dividend of 6.0p for financial 2025, up 3.4% from 5.8p. The dividend yield was 7.9%, higher compared to 7.2% in financial 2024.
Looking ahead, Chair David MacLellan said: "Custodian Property Income REIT remains one of only a few active and genuinely diversified property investment companies, and the company's differentiated property strategy positions it well to continue to deliver for long-term investors seeking an income focused opportunity."
He added: "As short-term interest rates fall and investors reconnect with real estate investment for its attractive income credentials, the company’s share price is well-placed to re-rate back towards NAV and enhance total returns. In addition, with asset prices showing signs of recovery and following the recent announcement of an all-share portfolio acquisition, the Board looks to the future with confidence.”
Custodian Property shares were 0.6% lower at 83.50 pence each on Thursday morning in London.
By Tom Budszus, Alliance News slot editor
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