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LXi REIT PLC on Thursday posted an optimistic outlook as it collected all rent in advance for the quarter ending March 31, which it said continued its post-Covid collection record. The London-based commercial real estate-focused investment trust declared a 1.575 pence per share quarterly dividend, which is in line with its annual target dividend of 6.3p for financial year 2023. For financial year 2022, LXi REIT paid a 6.0p dividend. Chair Cyrus Ardalan says: ‘Despite the challenging wider macroeconomic backdrop, LXI REIT continues to deliver excellent operational results that help to underpin our growing income.’ Ardalan added that the company in 2023 focuses on refinancing, recycling capital and re-gearing some of its leases to extend its weighted average unexpired lease term. LXi REIT shares were 1.1% higher at 115.03 pence each in London on Thursday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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