Associated equity: Custodian Property Income REIT
Custodian Property Income REIT (CREI) is a London Main Market-listed REIT focused on commercial property in the UK outside London. It is income-focused, with a commitment to pay a high but sustainable and covered dividend.
Custodian Property Income REIT — 6 videos in collection
In this interview, Richard Shepherd-Cross, the fund manager of Custodian Property Income REIT (CREI), discusses the company’s recent quarterly update, the resilient occupier market that is supporting rental growth across the portfolio, and the potential for further private company portfolio acquisitions, a key part of CREI’s growth strategy. In the three months to 30 June (Q127) the NAV total return was 1.8p per share (1.8%) comprising the 1.5p dividend paid and a 0.3p increase in NAV per share to 100p. The portfolio estimated rental value (ERV) increased by 1.0% in the quarter, following 3.3% in the year to March. Q127 ERV was £7m higher than passing rent, representing significant income potential embedded within the portfolio. During the quarter, portfolio valuations increased modestly, despite higher long-term interest rates. The disconnect between the strong underlying fundamentals of UK real estate and investor sentiment for most of the UK-listed sector persists.