22nd Oct 2013 12:04
LONDON (Alliance News) - Schroder Real Estate Investment Trust Limited Tuesday said its net asset value per share increased between June and September as a result of an increase in the value of its directly owned property portfolio.
Schroder Real Estate Investment Trust said its net asset value on September 30 was GBP161.6 million, or 45.4 pence per share, up from the GBP157.8 million, or 44.3 pence per share, reported on June 30.
Over the period the trust made an unrealised gain of GBP5.6 million on the value of its portfolio of directly owned property, which was the most significant driver in its NAV increase.
An interim dividend of 0.62 pence per share was declared for the period July 1 to September 30.
The company's direct property portfolio comprised 51 properties independently valued at GBP263.44 million on September 30.
The company also said it is exploring potential new acquisitions using its existing cash resources.
Schroder Real Estate Investment Trust shares were Tuesday quoted at 48.70 pence, up 0.9%.
By Samuel Agini; [email protected]; @samuelagini
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