6th Mar 2019 12:40
LONDON (Alliance News) - Secure Income REIT PLC on Wednesday expressed confidence for the year ahead after reporting a strong growth in net asset value per share in 2018.
The stock was trading flat on Wednesday at 402.00p per share.
The company reported NAV per share of 400.5 pence as at the end of December 2018, up 8.1% from 370.4p a year earlier.
The increase in NAV per share over the year was driven by a 5.3% like-for-like valuation increase to GBP2.31 billion, the company said, as a result of rents on the portfolio held throughout the year increasing by 2.6%.
The portfolio at December 31 comprised of 175 properties with annual passing rent at GBP125.0 million, up 31% from GBP95.7 million in 2017.
Secure Income declared a dividend of 13.9p a share, up 2.2% from 13.6p paid the year before.
"While political and economic uncertainty is elevated and volatility in financial markets on the rise, the fundamentals of our business remain unchanged and we continue to view its prospects with confidence," said Non-Executive Chair Martin Moore.
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