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Custodian REIT PLC (LON:CREI) issued its quarterly NAV (net asset value) update for the three months ended September 30,  on October 23. The company reported a NAV total return per share of 2.3% for the period (NAV increase plus dividend approved), and a reduction in net gearing to 20.5% loan-to-value, from 21.0% on June 30. Custodian acquired five new properties during the period with net initial yields of between 6.38% and 9.79%. More details are on p2.

Executive summary

In pence-per-share terms, the NAV increased by 0.8p during the quarter. This represents an increase of 3.7p or 3.5% over the 12 months from September 2017. Furthermore, the company has maintained a target dividend per share of 6.55p to March 2019 up from 6.45p delivered in FY March 2018.

Quick facts: Custodian REIT

Price: 84.4 GBX

LSE:CREI
Market: LSE
Market Cap: £354.53 m
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Custodian Reit results show increased fully-covered dividend

Proactive analyst Ed Stacey explains why Custodian REIT (LON:CREI) remains one of the best dividend/yield plays in the UK market going into 2020. Interim results indicate that their dividend is backed by net income from rental income. Stacey runs through how Custodian REIT manages funds, how...

on 17/1/20

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