14th Oct 2020 15:38
Regional REIT - real estate investment trust focused on UK office and industrial property assets - Says rent collection continues to strengthen, with first quarter increasing to 99.2% and second quarter to 96.9%. Third quarter rent collection currently stands at 90.8%, adjusting for monthly rent and agreed collection plans, higher than at the equivalent date in 2019 when 87.8% had been collected.
"We continue to work closely with our highly diversified tenant base, which is reflected in the company's strong rent collection for the year to date of 95.7% as at 9 October 2020. Furthermore, we anticipate receipts will continue to increase in line with our expectations and an update will be provided in due course. We are encouraged by this positive trend," says Stephen Inglis, chief executive of London & Scottish Property Investment Management Ltd, asset manager to Regional REIT.
Current stock price: 63.80 pence
Year-to-date change: down 44%
By Lucy Heming;Â [email protected]
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