12th Apr 2023 09:06
LXi REIT PLC - London-based commercial real estate-focused investment trust - Says its property portfolio value stands at GBP3.36 billion on March 31, up from GBP1.54 billion on the same date a year earlier, but down from GBP3.66 billion on September 30. Says the valuation reflects an outward yield shift of 48 basis points and an 8.6% life-for-like reduction in value in the half year ended March 31. LXi says this valuation change shows "material outperformance relative to the wider property market", despite the repricing of real assets driven by rising interest rates. Adds that its estimated EPRA net tangible assets per share is expected to be about 120p as at March 31, down from 143p on the same date a year earlier.
Current stock price: 101.20 pence each, up 0.2% on Wednesday morning in London
12-month change: down 31%
By Xindi Wei, Alliance News reporter
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