Yew Grove REIT boosts NAV since its establishment in April

Writer, Stock Market Wire
Wednesday, February 6, 2019 - 08:06

Yew Grove REIT reported a posted a positive performance for the period since its incorporation in April.

The company's EPRA net asset value per share had increased by 3.6c to 100.18c as at 31 December.

Yew Grove REIT declared a dividend for the period through December of 0.964c per share.

Its portfolio was worth €77.9m at the end of December, with an annualised passing rent roll of €6.3m.

'We are delighted to announce that by the end of the year the company had invested all of the net proceeds raised in our IPO,' chief executive Jonathan Laredo said.

'We are even more pleased that EPRA NAV per share increased to 100.18c from 96.55c at the date of the interim results.'

'The fact that this was achieved despite the company absorbing all of the costs of flotation and tripling the size of its property portfolio is a testament to the quality of those purchases.'

'The headroom under our revolving credit facility will allow the company to buy further attractive properties and continue to improve returns to shareholders.'

'The current strong rental levels in our geographic target market support a growing dividend and, as previously disclosed, the company will announce its first quarterly dividend at the end of March.'

At 8:06am: (LON:YEW) Yew Grove Reit Plc Ord Shs Eur0.01 share price was 0p at 1.02p

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