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Unaudited Net Asset Value as at 31 March 2020 a...
Unaudited Net Asset Value as at 31 March 2020 a....
About this update from Custodian Property Income Reit Plc
[{"type":"text","content":"\n \n\n\nCustodian REIT plc (CREI)\n\n\n\nCustodian REIT plc : Unaudited Net Asset Value as at 31 March 2020 and COVID-19 update29-Apr-2020 / 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\n29 April 2020\n\nCustodian REIT plc\n\n \n\n(\"Custodian REIT\" or \"the Company\")\n\n \n\nUnaudited Net Asset Value as at 31 March 2020 and COVID-19 update\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 March 2020, highlights for the period from 1 January 2020 to 31 March 2020 (\"the Period\") and an update on the impact of the COVID-19 pandemic.\n\n \n\nThe Company's focus is on managing liquidity to mitigate the risks associated with COVID-19 disruption and maintaining a level of income for investors broadly linked to net rental receipts.\n\n \n\nFinancial highlights\n\n \n\nNAV total return per share1 for the year ended 31 March 2020 (\"FY20\") of 1.1% (year ended 31 March 2019 (\"FY19\"): 5.9%), comprising 6.2% income (FY19: 6.1%) and a 5.1% capital decrease (FY19: 0.2% capital decrease)\n NAV per share of 101.6p (31 December 2019: 104.4p)\n NAV of £426.7m (31 December 2019: £430.2m)\n FY20 EPRA earnings per share2 7.0p (FY19: 7.3p)\n Dividend per share approved for the Period of 1.6625p payable on 29 May 2020\n FY20 dividends paid and approved of 6.65p (FY19: 6.55p)\n Net gearing3 of 22.4% loan-to-value (31 December 2019: 23.2%) comprising cash of £25m and borrowings of £150m \n £9.1m of new equity raised during the Period at an average premium of 10.6% to dividend adjusted NAV per share \n Market capitalisation of £415.9m (31 December 2019: £469.7m)\n \n\nPortfolio highlights \n\n \n\nProperty value of £559.8m (31 December 2019: £571.2m), subject to a 'material uncertainty' clause in line with prevailing RICS guidance\n £12.5m aggregate valuation decrease (2.2% of property portfolio) for the Period, comprising a £2.9m valuation increase from successful asset management initiatives and £15.4m decreases due primarily to the impact of COVID-19 on retail and alternative sectors\n EPRA occupanc...