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Real Estate Credit Investments Ltd on Thursday said a return to lower interest rates should offer an opportunity for investors. The Guernsey-registered company is a closed-ended investment company which originates and invests in real estate debt secured by commercial or residential properties in Western Europe, focusing primarily on the UK, France and Spain. In the year that ended March 31, net asset value stood at £1.45 per share, down from £1.47 last year. NAV total return rose 7.0% compared to 6.2%, while total assets decreased 3.1% to £326.4 million from £337.0 million. The dividend remains unchanged year-on-year at 12.0 pence per share. ‘The reduction of inflation should allow central banks to move to reduce interest rates over time, albeit perhaps slower than anticipated. A return to a lower long-term interest rate environment, even if not returning to the recently experienced low levels, should benefit RECI as it continues to provide investors with a highly attractive and sustainable yield,’ RECI said. RECI shares were up 1.2% to 124.00 pence each in London on Thursday afternoon. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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