8th Feb 2023 14:28
Civitas Social Housing PLC - Exeter, England-based healthcare real estate investment trust - In the quarter ending December 31, Civitas Social says its rent roll increased with inflation, and lease billings continue to reflect consumer price index inflation increases. The trust lifts its third quarterly dividend to 1.425 pence per share, targeting a total annual payout of 5.70p, rising 2.7% from 5.55p in the previous financial year. For the same quarter last year, the dividend was 1.388 pence.
However, net asset value per share at the end of the period falls 3.4% to 110.93p from 114.84p at the end of September. This reflects a slight widening of the average net initial yield from 5.27% at September 30 to 5.45% at December 31, due to the broader macro-economic environment. Additionally, Civitas says the decrease is due to the "effects of the mark-to-market valuations of the company's financial swaps and caps". Civitas notes strong demand for quality accommodation while levels of supply decrease within the specialist housing sector.
Current stock price: 61.89 pence each, up 3.0% on Wednesday afternoon in London
12-month change: down 33%
By Xindi Wei, Alliance News reporter
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