9th Aug 2022 21:50
CT Property Trust Ltd - real estate investment trust, formerly known as BMO Real Estate Investments - Says net asset value total return was 4.5% in the second quarter, as NAV per share rises to 132.8 pence at June 30 from 128.0p at the end of March. Portfolio value rises 2.7% over the period, as all sectors contribute positively. Says shares were trading at a 37% discount to NAV at June 30.
"The board and manager believe that the current share price is not reflective of the quality of the company's portfolio, its long-term performance and robust financial position...If the high level of discount persists and subject to normal market conditions, the board has resolved to commence share buybacks," the firm says.
Current stock price: 87.20p, up 5.1% in London on Tuesday
12-month change: up 18%
By Elizabeth Winter; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
BREI.L