Business
Annual Report & Accounts for year ended 31 ...
Annual Report & Accounts for year ended 31 ....
About this update from Abrdn Property Income Trust Limited
[{"type":"text","content":"\n \n 17 April 2019\n\nSTANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LIMITED\n\nRESULTS IN RESPECT OF THE YEAR ENDED 31 DECEMBER 2018\n\nFinancial Highlights- NAV total return of 9.6% in the year, due to strategic overweight position in industrial sector. Over ten years the Company has produced a NAV total return of 187.0% compared with the AIC Property Direct Sector average of 159.9%.\n\n- Share price total return in the year was -8.3% compared to the total return on the FTSE All-Share REIT Index of -12.4% and the FTSE All-Share Index of -9.5%. Over ten years the Company has delivered a share price total return of 214.0% compared with the total return on the FTSE All-Share REIT Index of 115.0% and the FTSE All-Share Index of 138.4% highlighting consistent long term performance of the Company’s shares.\n\n- Loan to value of 24.4% at year-end, one of the lowest in the peer group and the wider REIT sector.\n\n- Since 1 January 2018 to date £10.2 million of shares were issued under the Company’s blocklisting facility for investment into the portfolio. \n\n- The dividend yield on the Company’s share price as at 31 December 2018 stood at 5.9% which compares favourably to the FTSE All-Share REIT Index (4.7%) and FTSE All-Share Index (4.5%) at the same date.\n\n- Overall, the Company, with a market capitalisation of £329 million as at 31 December 2018, has a secure and growing balance sheet, significant financial resources and a portfolio of outperforming assets that continues to underpin an attractive dividend for shareholders. \n\nProperty Highlights- As at 31 December 2018, the portfolio was valued at £499.1 million (2017: £433.2 million).\n\n- Property total return for the period was 8.5%, significantly ahead of the IPD Quarterly version of Monthly Index total return of 6.8%. The income return of 5.0% from the portfolio continued to outperform the comparative benchmark figure of 4.6% with a capital return of 3.3% in excess of the benchmark return of 2.1%.\n\n- A number of successful asset management initiatives, contributing to income and capital values, completed during the year including:\n\n - 13 new lettings generating £2.65 million per annum of income\n\n - 8 ...