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IN BRIEF: Custodian Property intends up to £5 million share buyback

ALN

Custodian Property Income REIT - Leicester-based investor in smaller regional UK properties - On Thursday, announced intention to start share buyback programme for a total of up to £5 million. The company says it believes its current share price materially undervalues its portfolio, including the security and quality of income offered via the fully covered dividend. Custodian Property has instructed its corporate broker Deutsche Bank AG to buy back ordinary shares on its behalf.

Current stock price: 81.30 pence each; market capitalisation £377.1 million

12-month change: up 5.9%

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