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Secure Income experiences strong investment growth

NAV up 7.6% at Secure Income REIT

Secure Income has landmark acquisition year – Results for the 2018 year have been published today for Secure Income REIT. EPRA NAV in total returns terms for the year increased 11.9%, with shareholder returns increasing by 8.3% alongside it. This is starkly different from the UK REIT sector, which returned -13.0% for shareholders on average. The net loan-to-value ratio decreased from 49.6% to 43.0%, demonstrating a decrease in risk and an increased ability to repay debts. Dividends per share in 2018 were 13.9p, up from 13.6p in 2017. Secure Income invested £212m in a hotels portfolio in April, and £224m in a leisure portfolio in July. The real estate investment trust has 175 key assets producing £125m per year of rent, up from £95.7m per year. 94 assets were added in 2018, meaning it was a landmark year in terms of acquisitions.

Martin Moore, non-executive chairman of the company, said “2018 represented another step change in the growth of the company. Not only did the existing portfolio meet its objectives of delivering capital growth and increasing rental income, we sourced two major off market transactions which met our strict acquisition requirements and which have already made a significant impact on the results of the group.  That our £315.5 million placing to part-fund the investment was so substantially over-subscribed reflects the strong investor appetite we are seeing for stable, long term secure income, particularly against the current global market backdrop.  While political and economic uncertainty is elevated and volatility in financial markets on the rise, the fundamentals of our business remain unchanged and we continue to view its prospects with confidence.”

SIR : Secure Income has landmark acquisition year

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