11th Jun 2025 09:56
(Alliance News) - TR Property Investment Trust PLC on Wednesday reported a negative total return in its most recent financial year, underperforming against the prior year but beating the return on its benchmark index.
The London-based investment trust offers exposure to companies involved with UK and European commercial real estate.
Net asset value per share at March 31 was 327.16 pence, down 6.9% from 351.50p on March 31, 2024.
NAV total return for the year ended March 31 was negative 2.5%, outperforming a negative 3.8% return on its benchmark, the FTSE EPRA/NAREIT developed Europe capped net total return index. Still, TR Property fell short of the positive 21% return reported a year prior. Its benchmark had delivered a positive 15% return in financial 2024.
The trust swung to a pretax loss of GBP25.5 million during the year, from a GBP198.6 million profit the year before.
"The company has delivered a solid rise in earnings, supported by disciplined stock selection and a return to healthier dividends across the sector. The board is therefore pleased to continue a measured pace of dividend growth, drawing on our healthy revenue reserves," said Chair Kate Bolsover.
"Looking ahead, we are encouraged by the renewed interest in value-driven parts of the market. With many growth-focused areas looking stretched, we believe listed European real estate stands out - underpinned by solid fundamentals, improving sentiment and attractive valuations. The portfolio is well positioned to capture these opportunities and we remain confident in our manager's ability to deliver sustainable growth over the long term."
TR Property declared a total dividend of 15.90p per share for the year, up 1.3% on-year from 15.70p, The final dividend per share was set at 10.25p, up 2.0% from 10.05p the year prior.
Shares in TR Property Investment Trust were marginally higher at 335.63 pence each in London on Wednesday morning. The stock has risen 4.9% over the past year.
By Emily Parsons, Alliance News reporter
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