IN BRIEF: Schroder European Real Estate quarterly property value low

Schroder European Real Estate Investment Trust PLC - London and Johannesburg-listed property ...

Alliance News 16 October, 2023 | 7:10AM
Email Form Facebook Twitter LinkedIn RSS

Schroder European Real Estate Investment Trust PLC - London and Johannesburg-listed property investor - Say the direct property portfolio was independently valued at EUR214.1 million as at September 30, down 2.1% from EUR218.7 million as at September 30, 2022. Says the like-for-like property valuation decreased by 1.9% from EUR218.4 million as at June 30, 2023. Says valuation is driven by continued outward yield movement and higher interest rate that hurt investor sentiment. Schroder European Real Estate says it remains well positioned with significant cash reserves and is reviewing select sustainability-led capital expenditure initiatives in the portfolio, which should optimise earnings growth and asset liquidity.

Stock price in London: 68.40 pence

12-month change: down 16%

Stock price in Johannesburg: ZAR16.90

12-month change: down marginally

By Artwell Dlamini, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Schroder European Real Estate Inv Trust 64.40 GBX 0.63 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures