Skip to main content

In order to access the website of Winterflood Securities Limited you must first read and accept the following terms:

This website is not directed at, or intended for distribution to or use by, any U.S. citizen, person, or entity that resides in or is located in the United States of America or any other jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation which would subject Winterflood to any registration or licensing requirements with such jurisdiction. Services are not available to U.S. persons except where such services are permitted under SEC rule 15a6 or other relevant exemptions from SEC Broker/Dealer registration requirements.

Research on this Website

Research on this website has been issued for the information of Professional Clients and Eligible Counterparties (as defined in the FCA handbook) of Winterflood Securities Ltd (“Winterflood”). The terminology used within the research reports is intended for professional investors. Research reports are not intended to provide the sole basis for any evaluation of an investment decision.

Each research report on this website must be read in conjunction with any disclaimer which forms part of it. Your attention is drawn to the date of issue of the information provided and of the opinions expressed therein. Any opinions are those of the Winterflood Investment Trust research team and are subject to change without notice and Winterflood is not under any obligation to update or keep current the information contained herein. The material on this website is based on information obtained from sources believed to be reliable but which have not been independently verified and are not guaranteed as being accurate.

Use of Cookies

For information on the cookies used on our websites, please refer to our Cookies Policy which can be accessed here.


For information on how we treat your personal data, please refer to our Privacy Notice which can be accessed here.

More information can be found in our Legal Disclaimer

If you have read and accepted the terms and conditions for use of this website please click continue
30 Apr 2021

BMO Commercial Property Trust

Company Notes

34% discount offers considerable value

Since its launch in 2005, BMO Commercial Property Trust has been managed by Richard Kirby of BMO Real Estate Partners, who is supported by deputy manager Matt Howard. The fund’s objective is to provide shareholders with an attractive level of income together with the potential for capital and income growth from investing in a diversified UK commercial property portfolio.

On 23 April the fund published a NAV update for the three months to 31 March 2021. The NAV per share increased by 1.7% over the quarter from 117.5p to 119.5p, while the NAV total return was +2.6%. The capital value of the property portfolio increased by 1.1% to £1,242m. The fund pays monthly dividends, which are currently being paid at a rate of 0.35p per share per month. This compares with the pre-pandemic monthly rate of 0.50p per share, with the Board initially suspending dividend payments in April last year in the wake of the pandemic, before reintroducing them at a monthly rate of 0.25p from August, which was increased to 0.35p per share in December.