16th Oct 2023 08:10
Schroder European Real Estate Investment Trust PLC - London and Johannesburg-listed property investor - Say the direct property portfolio was independently valued at EUR214.1 million as at September 30, down 2.1% from EUR218.7 million as at September 30, 2022. Says the like-for-like property valuation decreased by 1.9% from EUR218.4 million as at June 30, 2023. Says valuation is driven by continued outward yield movement and higher interest rate that hurt investor sentiment. Schroder European Real Estate says it remains well positioned with significant cash reserves and is reviewing select sustainability-led capital expenditure initiatives in the portfolio, which should optimise earnings growth and asset liquidity.
Stock price in London: 68.40 pence
12-month change: down 16%
Stock price in Johannesburg: ZAR16.90
12-month change: down marginally
By Artwell Dlamini, Alliance News reporter
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