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Standard Life Inv. Property Income posts COVID-affected results

Standard Life Investments Property Income buys in Birmingham Swadlingcote

Standard Life Investments Property Income Trust (SLI) has posted full year results for 2020. The highlights are:

  • Net asset value (NAV) per share 82.0p (Dec 19: 89.9p), down 8.8% as valuations came under pressure, particularly in the first half of the year, due to COVID-19.
  • NAV total return of -4.6%
  • EPRA earnings per share 4.1p
  • Dividends declared 3.8p (80% of 2019 level) – dividend cover of 108%
  • Rent collection for 2020 of 93.6% of rent due (2019: 99%)
  • Occupancy rate of 91.7% (2019: 93.4%)
  • Loan to Value of 23.0% (2019: 24.6%)
  • Financial Resources of £55m available for investment through revolving credit facility.
  • Share buybacks totalling £6m as at 23 April 2021 at significant discounts to NAV which are accretive to both NAV performance and earnings.
  • Portfolio sector weightings: 48.2% in industrials and only 12% in retail.

SLI : Standard Life Inv. Property Income posts COVID-affected results

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