13th Dec 2022 14:36
(Alliance News) - Real Estate Credit Investments Ltd on Tuesday said net asset value per share increased, as it plans to deploy cash in near term commitments.
The Guernsey-based closed-ended investment company said that net asset value at November 30 was 150.2 pence per share, up 1.2p per share from 149.0p per share on October 31. The company said the 3.0p per share quarterly dividend went ex on December 1, and will be reflected in the NAV update on December 31.
Net Assets were GBP344.5 million, up 0.8% from GBP341.6 million on October 31, but were down 2.0% from GBP351.4 million the year prior. The company said the NAV increase was mostly due to 1.1p of interest income.
Real Estate Credit Investments also reported that its investment portfolio totalled GBP481.7 million, up 3.2% from GBP466.9 million on October 31, and up 22% from GBP394.3 million a year ago.
The company said it expected to deploy its cash resources in near term commitments, adding that it "continues to see a growing pipeline of senior loans at attractive floating rates".
Real Estate Credit Investments shares were down 1.1% trading at 132.50p per share on Tuesday afternoon in London.
By Harvey Dorset, Alliance News reporter
Comments and questions to [email protected]
Copyright 2022 Alliance News Ltd. All Rights Reserved.
Related Shares:
Real Est.cred