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Unaudited net asset value as at 30 September 20...
Unaudited net asset value as at 30 September 20....
About this update from Custodian Property Income Reit Plc
[{"type":"text","content":"\n \n\n\nCustodian REIT plc (CREI)\n\n\n\nUnaudited net asset value as at 30 September 2021 and increase in target dividend04-Nov-2021 / 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 \n\n \n\n4 November 2021\n\n \n\nCustodian REIT plc\n\n \n\n(\"Custodian REIT\" or \"the Company\")\n\n \n\nUnaudited net asset value as at 30 September 2021 and increase in target dividend\n\n \n\nCustodian REIT (LSE: CREI), the UK commercial real estate investment company focused on smaller lot-sizes, today reports its unaudited net asset value (\"NAV\") as at 30 September 2021, highlights for the period from 1 July 2021 to 30 September 2021 (\"the Period\") and dividend update.\n\n \n\nFinancial highlights\n\n \n\nDividend per share approved for the Period of 1.25p (quarter ended 30 June 2021: 1.25p)\n Target quarterly dividend per share increased by 10% to 1.375p commencing from the quarter ending 31 December 2021, resulting in target dividends per share of no less than 5.25p for the year ending 31 March 2022 and 5.5p for the year ending 31 March 2023\n EPRA earnings per share1 for the Period increased to 1.6p (quarter ended 30 June 2021: 1.4p) due to a £0.2m decrease in the doubtful debt provision during the Period (quarter ended 30 June 2021: £0.3m increase)\n 94% of rent collected relating to the Period, adjusted for contractual rent deferrals \n NAV total return per share2 for the Period of 5.5%, comprising 1.2% dividends paid and a 4.3% capital increase\n NAV per share of 106.0p (30 June 2021: 101.7p)\n NAV of £445.9m (30 June 2021: £427.7m)\n Net gearing3 decreased to 19.6% loan-to-value (30 June 2021: 24.3%) due to the disposal of nine properties during the Period\n \n\nPortfolio highlights \n\n \n\nProperty portfolio value of £565.3m (30 June 2021: £575.4m)\n £12.8m aggregate valuation increase for the Period (2.5% of property portfolio), comprising £0.9m from successful asset management initiatives and £11.9m of general valuation increases \n £4.2m profit on disposal5 from the sale of nine properties for aggregate consideration of £37.7m5 comprising:\nA portfolio of seven industrial assets for...