Business
Unaudited Net Asset Value as at 30 September 2017
Unaudited Net Asset Value as at 30 September 2017.
About this update from Custodian Property Income Reit Plc
[{"type":"text","content":"\n \nRNS Number : 3876U Custodian REIT PLC 24 October 2017 \n\n \n24 October 2017\nCustodian REIT plc\n \n(\"Custodian REIT\" or \"the Company\")\n \nUnaudited Net Asset Value as at 30 September 2017\n \nCustodian REIT (LSE: CREI), the UK commercial real estate investment company, today reports its unaudited net asset value (\"NAV\") as at 30 September 2017 and highlights for the period from 1 July 2017 to 30 September 2017 (\"the Period\").\n \nFinancial highlights\n \n· NAV total return per share1 for the Period of 2.1%\n· Dividend per share approved for the Period of 1.6125p\n· NAV per share of 104.9p (30 June 2017: 104.3p)\n· NAV of £378.6m (30 June 2017: £361.3m)\n· Net gearing2 of 22.4% loan-to-value (30 June 2017: 18.9%)\n· £16.4m3 of new equity raised during the Period at an average premium of 11.5% to dividend adjusted NAV per share at 30 June 2017\n· Market capitalisation of £414.1m (30 June 2017: £405.4m)\n \nPortfolio highlights \n \n· Portfolio value of £474.3m (30 June 2017: £452.4m) \n· £26.3m4 invested in five property acquisitions \n· £1.0m property valuation increase\n· £1.0m profit on disposal of investment properties\n· EPRA occupancy5 96.4% (30 June 2017: 97.9%)\n \n1 NAV per share movement including approved dividends payable relating to the Period.\n2 Gross borrowings less unrestricted cash divided by portfolio valuation.\n3 Before costs and expenses of £0.2m.\n4 Before acquisition costs of £1.4m.\n5 Estimated rental value (\"ERV\") of let property divided by total portfolio ERV.\n \n \n \nNet asset value\n \nThe unaudited NAV of the Company at 30 September 2017 was £378.6m, reflecting approximately 104.9p per share, an increase of 0.6% per share since 30 June 2017:\n \n\n\n\n\n \n\n\nPence per share\n\n\n£m\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nNAV at 30 June 2017\n\n\n104.3\n\n\n361.3\n\n\n\n\nIssue of equity (net of costs)\n\n\n0.3\n\n\n16.2\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\...