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Custodian REIT plc : Unaudited Net Asset Value...
Custodian REIT plc : Unaudited Net Asset Value....
About this update from Custodian Property Income Reit Plc
[{"type":"text","content":"\n \nCustodian REIT plc (CREI)Custodian REIT plc : Unaudited Net Asset Value as at 31 December 201723-Jan-2018 / 07:00 GMT/BSTDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.\n\n \n\n23 January 2018\n\nCustodian REIT plc\n\n \n\n(\"Custodian REIT\" or \"the Company\")\n\n \n\nUnaudited Net Asset Value as at 31 December 2017\n\n \n\nCustodian REIT (LSE: CREI), the UK commercial real estate investment company, today reports its unaudited net asset value (\"NAV\") as at 31 December 2017 and highlights for the period from 1 October 2017 to 31 December 2017 (\"the Period\").\n\n \n\nFinancial highlights\n\n \n\nNAV total return per share1 for the Period of 2.6%\n Dividend per share approved for the Period of 1.6125p\n NAV per share of 106.0p (30 September 2017: 104.9p)\n NAV of £401.0m (30 September 2017: £378.6m)\n Net gearing2 of 22.3% loan-to-value (30 September 2017: 19.7%)\n £20.1m3 of new equity raised during the Period at an average premium of 11.8% to dividend adjusted NAV per share at 30 September 2017\n Market capitalisation of £443.6m (30 September 2017: £414.1m)\n \n\nPortfolio highlights \n\n \n\nPortfolio value of £518.7m (30 September 2017: £474.3m) \n £43.0m4 invested in six property acquisitions, £0.8m capital expenditure on office refurbishment \n £4.2m property valuation increase, including £2.6m from successful asset management initiatives\n £0.7m profit on disposal of investment properties\n EPRA occupancy5 97.2% (30 September 2017: 96.7%)\n \n\n1 NAV per share movement including approved dividends payable relating to the Period.\n\n2 Gross borrowings less unrestricted cash divided by portfolio valuation.\n\n3 Before costs and expenses of £0.3m.\n\n4 Before acquisition costs of £2.5m.\n\n5 Estimated rental value (\"ERV\") of let property divided by total portfolio ERV.\n\n \n\nNet asset value\n\n \n\nThe unaudited NAV of the Company at 31 December 2017 was £401.0m, reflecting approximately 106.0p per share, an increase of 1.0% per share since 30 September 2017:\n\n \n\n\n  \n \n \n Pence per share\n \n \n £m\n \n \n Â...