IN BRIEF: Alternative Income REIT posts swing to annual profit

Alternative Income REIT PLC - London-based real estate investment trust - Has collected 86% of ...

Alliance News 4 August, 2021 | 7:32PM
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Alternative Income REIT PLC - London-based real estate investment trust - Has collected 86% of total rent due for the quarter ended June 30, with 1.8% being delayed pending asset management activity at two of the trust's properties.

For the year to the end of June, earnings per share was 6.92 pence, swinging from a loss of 6.27p the year before. As at June 30, property portfolio value increases to GBP109.2 million from GBP108.7 million at the end of March.

Declares fourth interim dividend of 1.64 pence per share for the quarter, bringing the annual aggregate payout at 5.14p.

"The board is pleased to declare today an increased dividend to shareholders, underlining the continuing strength of the group's collection of rent from our 100% let portfolio. Taken together with our robust balance sheet, modest overhead and with 87% of our portfolio's leases with inflation linked upwards only rent reviews, the board remains confident that the group will provide attractive total returns to our shareholders principally in the form of fully covered dividends," says company.

Current stock price: 72.95 pence

Year-to-date change: up 22%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Alternative Income REIT Ord 71.80 GBX -0.14 -

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