Business
NAV update for the quarter to 30 June 2025
NAV update for the quarter to 30 June 2025.
About this update from Schroder Real Estate Investment Trust Ltd
[{"type":"text","content":"\n\nFor release 5 August 2025\n \nSchroder Real Estate Investment Trust Limited\nNAV UPDATE FOR THE QUARTER TO 30 JUNE 2025\n1.6% NAV TOTAL RETURN SUPPORTED BY EARNINGS GROWTH AND ACTIVE MANAGEMENT\n \nSchroder Real Estate Investment Trust Limited ('SREIT' or the 'Company'), the actively managed REIT focused on improving the sustainability performance of buildings to generate higher income and capital growth, announces its 30 June 2025 net asset value ('NAV'), an asset management update, and further progress selling smaller non-core assets on completion of business plans.\n \nFinancial highlights\n· NAV total return for the quarter of 1.6%\n· NAV increase of 0.2% to £301.9 million or 61.7 pence per share ('pps')\n· Annualised dividend yield of 6.8% on 4 August closing share price of 52.5p\n· Quarterly EPRA earnings increased 7.3% to £4.4 million, or 0.9 pps\n \nBalance sheet highlights\n· Sector-leading debt terms with a weighted average maturity of 8.2 years and interest cost of 3.5% on drawn debt\n· Incremental positive fair value benefit of the fixed-rate loan of £18.4 million, which is not reflected in the Company's NAV\n· Net loan to value 36.5% (31 March 2025: 36.9%)\n \nOperational highlights\n· Quarterly portfolio capital growth of 0.3%\n· Strong leasing momentum maintained since the Company announced its final results on 11 June 2025, with 10 deals completed across 52,000 sq ft:\no Four new lettings of vacant units totalling £321,000 of annualised rent, 1% ahead of 30 June 2025 estimated rental value ('ERV')\no Five lease renewals generating total rent of £281,000, which is 11% ahead of the previous passing level and 5% ahead of 30 June 2025 ERV\no One rent review with a total rent of £100,000 which is 22% ahead of the previous passing level\n· 39% reversion to the portfolio's ERV of £40.2 million from an annual rent of £29.0 million as at 30 June 2025, which is expected to further drive income and earnings growth\n \nDividend\n· Quarterly dividend paid of £4.4 million, or 0.897 pps (31 March 2025: 0.897 pps)\n· Quarterly dividend 100% covered by EPRA earnings ...