6th Sep 2022 14:37
Starwood European Real Estate Finance Ltd - London-based investment company focused on real estate debt investments in the UK and Europe - Posts fall in net asset value and widening loss as expenses grow. NAV per share at June 30 falls by 0.2% to 103.42 pence from 103.62p a year prior. Pretax loss in six months to June 30 widens to GBP12.5 million from GBP10.1 million. Expenses increase by 8.2% to GBP3.3 million from GBP3.1 million. Firm touts cash generation of GBP3.1 million in the six months versus GBP1.4 million a year ago.
"The portfolio continues to support annual dividend payments of 5.5p, paid quarterly," Starwood adds. Explains that 79% if its portfolio is contracted at floating interest rates, which it says protects it from inflation. It "will provide an increase in revenue as expected higher inflation results in higher interest rates".
Current stock price: 94.10p
12-month change: down 0.3%
By Tom Budszus; [email protected]
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