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Custodian Property Income REIT PLC on Thursday reported a ‘stable’ second quarter amid rises in its net asset value per share and investment property portfolio value. The Leicester, England-based real estate investment trust said net asset value per share stood at 98.9 pence per share on September 30, up 2.3% from 96.7p on June 30, driven primarily by valuation increases across all key property sectors. The NAV total return per share for the three months to September 30 was 3.8%. Custodian Property said the value of its investment property portfolio stood at £625.0 million on September 30 from £614.7 million on June 30, representing a like-for-like valuation increase of 1.4% during the quarter, with a net of £3.7 million of capital expenditure. £1.0 million of new annual rental income was added to the rent roll through the letting of six vacant units, in aggregate, in line with estimated rental value. Custodian Property declared an interim dividend of 1.5p for the second quarter, following a 1.5p dividend paid at the end of August relating to the first quarter. The company said it is is targeting a dividend per share of no less than 6.0p for the year ending March 31, 2026, which is the same figure as the previous financial year. Looking ahead, Custodian Property said it ‘will continue to pursue opportunities to invest in our existing portfolio and grow through selective corporate acquisitions’. Custodian Capital and Fund Manager’s Managing Director Richard Shepherd-Cross said: The direct property market has been witnessing a recovery since September 2024, with valuations improving quarter on quarter for Custodian Property Income REIT, driven by consistent rental growth across all real estate sectors in the UK. As a result, the diversified nature of our portfolio is well positioned to benefit from the upside of both the real estate recovery and the improving market sentiment towards listed markets. ‘Despite uncertainty leading into the November 2025 budget, the company has continued to deliver another quarter of stable earnings, fully covering our dividend, with like-for-like passing rent growing by 2.3% through active asset management initiatives and the leasing of vacant space.’ Shares in Custodian Property fell 0.5% to 81.37 pence on Thursday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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