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Schroder Real Estate Investment Trust Ltd on Wednesday posted a higher net asset value and dividend, citing successful management at its retail warehouse assets.
Net asset value rose 4.4% to £388.6 million at June 30, from £372.2 million at March 31. Per share value stood at 79.1 pence, up from 75.8p.
The company declared a quarterly dividend of 0.795p per share compared to 0.675p a year ago.
‘This strong performance is testament to continued asset management successes, notably at our regional multi-let industrial estates and retail warehouse assets,’ says fund manager Nick Montgomery. The company's retail warehouse asset returned 12%, compared to its MSCI Benchmark returning 9.3%.
The company's Industrial asset returned 47%, versus 34% of its benchmark.
Schroder Real Estate is an activity managed UK-focused real estate investment trust.
‘Whilst the outlook is increasingly uncertain due to high inflation and an expectation that interest rates will continue to rise, the company is well positioned due to its good quality, higher yielding portfolio and long-term, fixed-rate debt,’ says Montgomery.
Schroder Real Estate's shares rose 3.1% to 53.90 pence each in London on Wednesday afternoon.
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