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Schroder Real Estate Investment Trust (SREI)
skinny
- 22 Jan 2014 08:27
skinny
- 30 Jan 2017 12:46
- 43 of 48
Net Asset Value(s)
Released 07:00 30-Jan-2017.
For release 30 January 2017
Schroder Real Estate Investment Trust Limited
ANNOUNCEMENT OF NAV AND DIVIDEND FOR QUARTER TO 31 DECEMBER 2016
Schroder Real Estate Investment Trust (the ‘Company’), the actively managed UK-focused REIT, announces its net asset value (‘NAV’) and dividend for the quarter to 31 December 2016.
Net Asset Value
The unaudited NAV as at 31 December 2016 was £320.3 million or 61.8 pence per share ('pps'). This reflects an increase of 1.1% per share compared with the NAV as at 30 September 2016, or a NAV total return, including the dividend of 0.62 pps, of 2.2%. A breakdown is set out below:
more.....
Released 07:00 30-Jan-2017.
For release 30 January 2017
Schroder Real Estate Investment Trust Limited
ANNOUNCEMENT OF NAV AND DIVIDEND FOR QUARTER TO 31 DECEMBER 2016
Schroder Real Estate Investment Trust (the ‘Company’), the actively managed UK-focused REIT, announces its net asset value (‘NAV’) and dividend for the quarter to 31 December 2016.
Net Asset Value
The unaudited NAV as at 31 December 2016 was £320.3 million or 61.8 pence per share ('pps'). This reflects an increase of 1.1% per share compared with the NAV as at 30 September 2016, or a NAV total return, including the dividend of 0.62 pps, of 2.2%. A breakdown is set out below:
more.....
skinny
- 07 Feb 2018 07:06
- 44 of 48
A fairly sizeable discount.
ANNOUNCEMENT OF NAV AND DIVIDEND FOR QUARTER TO 31 DECEMBER 2017
Schroder Real Estate Investment Trust (the ‘Company’), the actively managed UK-focused REIT, announces its net asset value ('NAV') and dividend for the quarter to 31 December 2017.
Net Asset Value
The unaudited NAV as at 31 December 2017 was £345.5 million or 66.6 pence per share ('pps'). This reflects an increase of 1.4% per share compared with the NAV as at 30 September 2017, or a NAV total return, including the dividend of 0.62 pps, of 2.3%.
more.....
ANNOUNCEMENT OF NAV AND DIVIDEND FOR QUARTER TO 31 DECEMBER 2017
Schroder Real Estate Investment Trust (the ‘Company’), the actively managed UK-focused REIT, announces its net asset value ('NAV') and dividend for the quarter to 31 December 2017.
Net Asset Value
The unaudited NAV as at 31 December 2017 was £345.5 million or 66.6 pence per share ('pps'). This reflects an increase of 1.4% per share compared with the NAV as at 30 September 2017, or a NAV total return, including the dividend of 0.62 pps, of 2.3%.
more.....
skinny
- 22 May 2018 12:51
- 45 of 48
Year End Results
Financial highlights for the 12 months ended 31 March 2018
· Net Asset Value ('NAV') total return of 10.5% (31 March 2017: 7.2%).
· 6.4% increase in NAV per share for the year to 68.2 pence per share (pps).
· EPRA earnings, adjusted for abortive transaction costs, of £14.1 million (31 March 2017: £13.8 million) which reflects a dividend cover of 109%.
· Profit for the year increased 48% to £33.8 million (31 March 2017: £22.8 million).
· Low Debt with Loan to value ('LTV') of 25.3% on a long-term debt (31 March 2017: 26.0%).
Operational highlights
· Sustained outperformance of real estate portfolio with a total return of 11.8% versus the MSCI/IPD Benchmark Index of 10.7% resulting in annualised outperformance of 1.0% over the past 12 months, 2.3% over 3 years and 1.4% since IPO in July 2004.
· Portfolio supported by strong fundamentals with 93% of the portfolio located in Winning Cities.
· Positive weighting to office and industrial sectors of 64%, and no City of London or Shopping Centres.
· Reversionary income yield of 7.0%, compared with the MSCI Benchmark of 5.7%, should lead to stronger income growth over the next 12-24 months.
· Identified programme of asset management initiatives of approximately £10 million of capital expenditure initiatives over the next 12 months to generate attractive income returns.
· Over the course of the financial year sales were completed at a premium to their valuations, and the Company is seeking opportunities to reinvest.
more.....
Financial highlights for the 12 months ended 31 March 2018
· Net Asset Value ('NAV') total return of 10.5% (31 March 2017: 7.2%).
· 6.4% increase in NAV per share for the year to 68.2 pence per share (pps).
· EPRA earnings, adjusted for abortive transaction costs, of £14.1 million (31 March 2017: £13.8 million) which reflects a dividend cover of 109%.
· Profit for the year increased 48% to £33.8 million (31 March 2017: £22.8 million).
· Low Debt with Loan to value ('LTV') of 25.3% on a long-term debt (31 March 2017: 26.0%).
Operational highlights
· Sustained outperformance of real estate portfolio with a total return of 11.8% versus the MSCI/IPD Benchmark Index of 10.7% resulting in annualised outperformance of 1.0% over the past 12 months, 2.3% over 3 years and 1.4% since IPO in July 2004.
· Portfolio supported by strong fundamentals with 93% of the portfolio located in Winning Cities.
· Positive weighting to office and industrial sectors of 64%, and no City of London or Shopping Centres.
· Reversionary income yield of 7.0%, compared with the MSCI Benchmark of 5.7%, should lead to stronger income growth over the next 12-24 months.
· Identified programme of asset management initiatives of approximately £10 million of capital expenditure initiatives over the next 12 months to generate attractive income returns.
· Over the course of the financial year sales were completed at a premium to their valuations, and the Company is seeking opportunities to reinvest.
more.....
skinny
- 09 Oct 2018 08:59
- 46 of 48
Property Tour and Notice of Results
Schroder Real Estate Investment Trust, the actively managed UK-focused REIT, will host a property tour for analysts and institutional investors today.
The event will include a presentation by the SREIT management team as well as site visits to key assets in Manchester and Leeds.
The presentation will be made available on the Company’s website (http://www.srei.co.uk/home).
Notice of Results
The Company confirms that it will announce its Half Year results for the six months ended 30 September 2018 on Tuesday 13 November 2018.
A presentation for analysts and investors will be held on the morning of the results. For details of the meeting, please contact FTI Consulting on the below.
-End-
Schroder Real Estate Investment Trust, the actively managed UK-focused REIT, will host a property tour for analysts and institutional investors today.
The event will include a presentation by the SREIT management team as well as site visits to key assets in Manchester and Leeds.
The presentation will be made available on the Company’s website (http://www.srei.co.uk/home).
Notice of Results
The Company confirms that it will announce its Half Year results for the six months ended 30 September 2018 on Tuesday 13 November 2018.
A presentation for analysts and investors will be held on the morning of the results. For details of the meeting, please contact FTI Consulting on the below.
-End-
skinny
- 13 Nov 2018 07:25
- 47 of 48
Interim Results
HALF YEAR RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
REFINANCINGS, ACQUISITIONS AND ASSET MANAGEMENT DRIVE DIVIDEND UPLIFT
Schroder Real Estate Investment Trust, the actively managed UK focussed REIT, today announces its unaudited half year results for the six months ended 30 September 2018.
Highlights
Completed two debt refinancings that reduced interest from 4.4% to 4.0% and the average loan term to approximately nine years
Acquired offices in Edinburgh and Nottingham at a net initial yield of 6.7%, supporting the Company’s strategy to invest in assets with strong fundamentals
5% dividend increase with effect from 1 October 2018
Financial highlights for the six months ended 30 September 2018
Net Asset Value (‘NAV’) of £357.7 million or 69.0 pps, reflecting an increase over the period of 1.2%
NAV total return, including dividends paid, of 3.0% (30 September 2017: 4.5%)
Profit for the six months of £10.6 million (30 September 2017: £14.5 million), including one-off refinancing costs of £3.1 million incurred during the period
Adjusted EPRA earnings of £7.1 million (30 September 2017: £7.5 million)
Dividend cover of 107% (30 September 2017: 117%)
Loan to value (‘LTV’), net of all cash, of 29.2% (31 March 2018: 25.3%)
Property portfolio highlights
Sustained outperformance of real estate portfolio with a total return of 4.5% versus the MSCI/IPD Benchmark Index of 3.8%
95% of the portfolio now located in Winning Cities
Significant asset management initiatives include the new ten-year lease without breaks with BUPA at a rent of £1.09 million per annum, reflecting an uplift of 14%
Letting activity over the period has improved the portfolio void rate to 6.0% (31 March 2018: 7.2%)
Reversionary income yield of 7%, compared with the MSCI Benchmark of 5.6%, supporting income growth over the next 12 to 24 months.
Commenting, Lorraine Baldry, Chairman of the Board, said:
“The UK real estate market has continued to deliver attractive levels of income and total returns despite growing political and economic risk. Looking forward, these risks combined with the late stage in the market cycle means we are more cautious about the outlook and may look to realise some of the capital gains across the portfolio. The Company is well positioned in this environment due to its high quality, diversified portfolio, a high income return, stable balance sheet and potential to enhance income and value from ongoing asset management initiatives.”
Duncan Owen, Global Head of Schroder Real Estate, added:
“In the face of challenges to the UK real estate market presented by current political and economic uncertainty, we will continue to be active managers adopting a disciplined approach. Our broad pipeline of asset management initiatives provide opportunities to add value throughout the cycle. This activity is a mainstay of the Company’s strategic objectives, the delivery of which is intended to sustainably increase net income. We will also sell assets where good performance can be realised and reinvest in opportunities which will generate higher net income.”
-Ends-
HALF YEAR RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
REFINANCINGS, ACQUISITIONS AND ASSET MANAGEMENT DRIVE DIVIDEND UPLIFT
Schroder Real Estate Investment Trust, the actively managed UK focussed REIT, today announces its unaudited half year results for the six months ended 30 September 2018.
Highlights
Completed two debt refinancings that reduced interest from 4.4% to 4.0% and the average loan term to approximately nine years
Acquired offices in Edinburgh and Nottingham at a net initial yield of 6.7%, supporting the Company’s strategy to invest in assets with strong fundamentals
5% dividend increase with effect from 1 October 2018
Financial highlights for the six months ended 30 September 2018
Net Asset Value (‘NAV’) of £357.7 million or 69.0 pps, reflecting an increase over the period of 1.2%
NAV total return, including dividends paid, of 3.0% (30 September 2017: 4.5%)
Profit for the six months of £10.6 million (30 September 2017: £14.5 million), including one-off refinancing costs of £3.1 million incurred during the period
Adjusted EPRA earnings of £7.1 million (30 September 2017: £7.5 million)
Dividend cover of 107% (30 September 2017: 117%)
Loan to value (‘LTV’), net of all cash, of 29.2% (31 March 2018: 25.3%)
Property portfolio highlights
Sustained outperformance of real estate portfolio with a total return of 4.5% versus the MSCI/IPD Benchmark Index of 3.8%
95% of the portfolio now located in Winning Cities
Significant asset management initiatives include the new ten-year lease without breaks with BUPA at a rent of £1.09 million per annum, reflecting an uplift of 14%
Letting activity over the period has improved the portfolio void rate to 6.0% (31 March 2018: 7.2%)
Reversionary income yield of 7%, compared with the MSCI Benchmark of 5.6%, supporting income growth over the next 12 to 24 months.
Commenting, Lorraine Baldry, Chairman of the Board, said:
“The UK real estate market has continued to deliver attractive levels of income and total returns despite growing political and economic risk. Looking forward, these risks combined with the late stage in the market cycle means we are more cautious about the outlook and may look to realise some of the capital gains across the portfolio. The Company is well positioned in this environment due to its high quality, diversified portfolio, a high income return, stable balance sheet and potential to enhance income and value from ongoing asset management initiatives.”
Duncan Owen, Global Head of Schroder Real Estate, added:
“In the face of challenges to the UK real estate market presented by current political and economic uncertainty, we will continue to be active managers adopting a disciplined approach. Our broad pipeline of asset management initiatives provide opportunities to add value throughout the cycle. This activity is a mainstay of the Company’s strategic objectives, the delivery of which is intended to sustainably increase net income. We will also sell assets where good performance can be realised and reinvest in opportunities which will generate higher net income.”
-Ends-
skinny
- 13 Nov 2018 07:26
- 48 of 48
DIVIDEND ANNOUNCEMENT
The company announces an interim dividend of 0.6355 pence per share (‘pps’) for the period 1 July 2018 to 30 September 2018. The dividend payment will be made on 5 December 2018 to shareholders on the register as at 23 November 2018. The ex-dividend date will be 22 November 2018.
The dividend of 0.6355 pps will be designated 0.35 pps as an interim property income distribution (‘PID’) and 0.2855 pps as an interim ordinary dividend.
The company announces an interim dividend of 0.6355 pence per share (‘pps’) for the period 1 July 2018 to 30 September 2018. The dividend payment will be made on 5 December 2018 to shareholders on the register as at 23 November 2018. The ex-dividend date will be 22 November 2018.
The dividend of 0.6355 pps will be designated 0.35 pps as an interim property income distribution (‘PID’) and 0.2855 pps as an interim ordinary dividend.
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