BMO Commercial Property Trust’s net asset value (NAV) fell 5% in the quarter to 31 March 2020 as the covid-19 pandemic hit the value of its portfolio. The unaudited NAV per share was 124.3p compared to a NAV of 130.9p per share at the end of December 2019. The NAV is based on the external […]
Picton Property will review the level of its dividend due to the covid-19 pandemic. The company has collected 71% of rents due for the current quarter, as at 7 April 2020. Short-term monthly payment plans have also been agreed with some tenants, which brings this figure to 80%. Picton, which owns a £665m diversified UK […]
Specialist regeneration developer and investor U and I Group has suspended its dividend and is not proposing any dividend for full year 2020. The company said it would preserve £4.4m of cash by not declaring a final dividend. The group’s development timelines have been massively impacted by closures during the covid-19 pandemic. It now expects […]
German business park owner Sirius Real Estate has provided a covid-19 update in which it said it had collected 75% of rent for the month of April. The figure, as at 9 April 2020, represented around 90% of the normal working pattern, the company said. A small number of its tenants are facing covid-19 related […]
As another week of lockdown comes to an end, property companies continue to update the market on the impact on their businesses. The latest slew of rent collection updates reveal that it isn’t just the retail, leisure and hospitality sectors that have been hit. Almost all companies have seen an impact on income (apart from […]
Town Centre Securities (TCS) has provided an update on the impact of covid-19, stating it has collected 71% of its rent for the quarter. For the rent quarters commencing 25 March and 1 April, TCS billed £4.9m of rent and service charge. As at 8 April 2020 it collected £3.5m or 71%, with a further […]
Warehouse REIT has committed to paying its 2020 dividend target. The group paid its third quarter dividend of 1.6p per share on 31 March 2020 and added that it remained committed to meeting its dividend target for the financial year to 31 March 2020 of 6.2p per share. As at 7 April 2020, it collected […]
Custodian REIT said it would reduce its quarterly dividend to a level broadly linked to net rental receipts. It said it intended to make the fourth quarterly interim dividend payment relating to the quarter ending 31 March 2020 of 1.6625p per share on 29 May 2020, reflecting the full collection of rent for that period. But due to a disruption to cash collection in the current quarter, as a […]
Regional REIT has reported a net asset value (NAV) fall of 2.5% in 2019 results and provided a covid-19 update, stating it had received 82% of rent due for the quarter. The group posted an EPRA NAV per share of 112.7p for the year to the end of December 2019, compared to 115.5p in 2018. Adjusted […]
Urban Logistics REIT has acquired nine assets and a development site for a total of £56.1m. The deals follow its £136.1 million equity capital raise which completed in March. The acquisitions were made at an average net initial yield of 6.3% and comprise: a portfolio of seven single-let regional distribution warehouses for £31.9m; an NHS distribution centre in […]
