29th Jun 2018 12:16
LONDON (Alliance News) - Real estate investment trust Residential Secure Income PLC said on Friday it saw a slight increase in its net asset value since listing on the London Main Market in July 2017.
Net asset value per share as at March 31 was 98.8 pence, up from 98.0p immediately following the company's admission on July 12.
For the period from July 12 to March 31, Residential Secure reported a pretax profit of GBP3.3 million, swinging from a loss of GBP27,986 the period before, and a gross rental income GBP3.8 million.
During the period the company acquired 1,341 retirement residential units located in 254 developments across the UK for around GBP100 million.
Residential Secure declared an interim dividend of 1.5 pence per share, and is targeting a full-year dividend of 3.0p.
"Since the successful IPO, we have acquired two well-located portfolios of retirement properties, and a further Local Authority-leased building, secured on strong counterparty covenants that allow us to put in place a long-term investment grade equivalent debt strategy. This criterion continues to underpin our investment strategy and we will continue to be highly selective in choosing opportunities and apply rigorous due diligence, consistent with requiring acquisitions to be capable of supporting it," said Chairman Robert Whiteman.
Shares in Residential Secure Income were up 1.3% at 95.19 pence on Friday.
Related Shares:
Residential Sec