Real Estate Investors 1H Rent, Occupancy was Strong; Mulls Shareholder Returns

Roger Pettingell Sarasota Real Estate

By Joe Hoppe

Real Estate Investors PLC said Wednesday that its first half rent collection and occupancy was strong, and it was mulling a return of capital to shareholders.

The Midlands, U.K.-focused real-estate investment trust said its rent collection for the six months ended June 30 stood at 95.16%, up from 92.22% at the same time a year prior.

The company’s occupancy now stands at 85.88%, up from 84.43% at the same time in 2021. The company said it expects ongoing activity to further improve occupancy levels.

Real Estate said it saw a high level of private investor demand for its assets in 2021 which persisted into the new year, and it has completed a further 5.7 million pounds ($6.8 million) of disposals over the first half at a value uplift of 27.9% compared to the December 2027 valuation.

This has brought up total sales for 2021 and 2022 to date to GBP23.2 million, with further sales of around GBP10 million under legal discussions.

The company said it still believes its share price discount to net tangible asset value is unwarranted and if it persists, it will consider a share buyback, special dividend or other capital return.

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