10th Aug 2022 06:57
Custodian REIT - Leicester, England-based real estate investment trust - On Tuesday, reports results for its first quarter ended June 30. Net asset value at June 30 rises 2.1% to 122.2 pence from 119.7p at Mar 31.
Declares a quarterly 1.375p dividend per share, which it says is in line with its target annual dividend of at least 5.5p for the financial year. Custodian sees itself barely impacted by rising interest rates.
"We believe that Custodian REIT is well insulated from the negative impact of interest rates rises continuing in the short to medium-term. We still see value in the market as recent acquisitions demonstrate and continue to achieve sales above valuation. In addition, we remain confident that our ongoing intensive asset management of the portfolio will both maintain and grow cash flow and support values," says Managing Director Richard Shepherd-Cross.
Current stock price: 109.00 pence
12-month change: up 7.5%
By Tom Budszus; [email protected]
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