Urban Logistics REIT
Company Notes
4.6% yield and strong capital growth prospects
On 9 June Urban Logistics REIT published its annual results for the year to 31 March 2021. Over the financial year, the fund’s EPRA NTA per share rose by 10.5% from 137.89p to 152.33p. The total return was +15.6%, exceeding the 10% - 15% p.a. target. The valuation of the property portfolio increased by 13.2% on a like-for-like basis over the financial year. Since its IPO in April 2016, the fund has delivered an average EPRA NTA total return of 13.9% p.a.
99.9% of the rent due in relation to the year ended 31 March 2021 has been collected. Adjusted earnings per share for the 12-month period were 6.76p, down from 7.66p in the previous year, with the decline due to the issuance of new shares in the period and the fact that the pace of investment was negatively affected by Covid-19 and the time it took to implement new banking facilities. Dividends totalling 7.6p per share have been declared in respect of the year, in line with the previous year. The Board has stated that it intends to use profits from property disposals and retained earnings to at least maintain the dividend each year, even when equity issuance has led to a dilution in earnings per share.
To see this content in full, please log in to your account.
Client log in
Please note that this website is part of Winterflood's research service and therefore only available to MiFID II compliant research clients. For further information please e-mail research@winterflood.com