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NAV and Dividend for Quarter to 31 December 2020
NAV and Dividend for Quarter to 31 December 2020.
About this update from Schroder Real Estate Investment Trust Ltd
[{"type":"text","content":"\n \n For release 15 February 2021\n Schroder Real Estate Investment Trust Limited\n \n \n ANNOUNCEMENT OF NAV AND DIVIDEND FOR QUARTER TO 31 DECEMBER 2020\n \n \n Schroder Real Estate Investment Trust (the ‘Company’ or ‘SREIT’), the actively managed UK-focused REIT, announces its net asset value (‘NAV’) and dividend for the quarter to 31 December 2020. The Company’s rent collection remains strong, which has underpinned a 9% increase in the quarterly dividend. In addition, following two signficant acquisitions in December, the portfolio weighting towards the industrial sector has increased from 30% to 37% over the quarter.\n \n \n Net Asset Value\n \n \n The unaudited NAV as at 31 December 2020 was £293.3 million or 58.8 pence per share ('pps'). This reflects an increase of 1.4% per share compared with the NAV as at 30 September 2020. Based on the quarterly dividend paid of 0.575 pps, the NAV total return was 2.4% for the period, with a like for like portfolio valuation increase offset by capital expenditure and one off acquisition costs. A breakdown is set out below:\n \n \n \n \n £m\n \n \n pps\n \n \n Comments\n \n \n \n \n NAV as at 30 September 2020\n \n \n 296.8\n \n \n 58.0\n \n \n \n \n Unrealised increase in the valuations of the direct real estate portfolio and Joint Ventures\n 4.5\n 0.9\n Portfolio like-for-like valuation movement, net of capital expenditure, of +0.9% over the period to 31 December 2020. Sector capital value movements, net of capital expenditure, were Industrial +4.7%, Offices 0.0%, Retail -1.9% and Other -2.1%\n \n \n Capital expenditure (direct portfolio and share of Joint Ventures)\n (1.1)\n (0.2)\n Includes asset management activity across the multi-let industrial portfolio to capture rental growth (Millshaw Industrial Estate, Leeds and Union Park, Norwich) and completing the landlord works in relation to Lidl and Home Bargains lettings at St John’s Retail Park, Bedford\n \n \n Acquisition costs\n (2.3)\n (0.4)\n Costs associated with the separate acquisitions of Langley Park, Chippenham and Stanley Green, Cheadle, that totalled £36.5m.\n \n \n Realised gains on disposals\n 0.1\n -\n Disposal of small non-core assets including two units in Commercial Road, Portsmouth (High Street Retail, £2.0m) and unconditional exchange of The Portergate, Sheffield (Office, £4.2m) which has now comple...