25th Jul 2022 09:40
(Alliance News) - PRS REIT PLC on Monday it upped the number of homes completed in the year as it hit 100% rent collection.
At June 30, the real estate investment firm completed 4,786 homes at an estimated rental value of GBP47.8 million per year. This was up from 3,984 completed homes at an estimated rental value of GBP37.5 million at the same time a year prior.
The number of contracted homes fell to 693 from 1,096, however. The estimated rental value of these homes also dropped, falling to GBP4.4 million from GBP10.8 million.
Completed and contracted sites inched up to 68 from 64, at an upped estimated rental value of GBP52.2 million and GBP48.3 million respectively.
In the final quarter of its financial year, the firm collected 100% of its rent, up from 98% of rent collected a year prior.
PRS REIT said the "very encouraging performance figures demonstrate the continuing strong market demand for rental homes."
The company also declared an interim dividend of 1.0 pence per share, unchanged from a year prior.
Shares in PRS were down 0.6% at 108.60 pence on Monday morning in London.
By Heather Rydings; [email protected]
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