4th Feb 2021 22:02
Standard Life Investments Property Income Trust Ltd- property investor - Says net asset value on December 31 was 82.0 pence, up 4.1% from 78.8p September 31. This gives a NAV total return, including dividends, of 5.0% for the fourth quarter of 2020 compared to a 0.6% rise in the MSCI Monthly Index Monthly Index for the same period. The company has collected 87% of fourth quarter rent, compared to 91% for the second and third quarter and 99% for the first quarter of 2020. For the first 2021 quarter, is has collected 74%, increasing to more than 79% for tenants paying monthly but billed quarterly.
"Although we are encouraged by the rental collection figures, we are very aware that restrictions at the beginning of 2021 are having a significant impact on many companies and that impact is likely to remain well into Q2," Standard Life Investments Property notes.
Opts to maintain quarterly quarterly dividend level from third quarter, equating to 0.714p per share and equivalent to 60% of the prior year's fourth quarter dividend. Brings forward payment to February end from March end 2021. Expects to pay further fifth interim dividend of at least 0.25p per share in May to comply with REIT rules.
Current stock price: 60.80p
Year-to-date change: up 1.3%
By Anna Farley; [email protected]
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