Custodian Property Income REIT: Edison
Real estate - LSE - Mcap: £340m - Price: 77p - Update
Significant uplift in fully covered DPS
Custodian Property Income REIT (CREI) produced a strong Q424 performance, driven by leasing progress and rental growth, rounding off a positive year. Reflecting FY24 performance, the company will pay a special dividend of 0.3p per share, additional to aggregate quarterly DPS of 5.5p, fully covered by EPRA earnings. The FY25 annual DPS target is increased by 9% to 6.0p, underpinned by the continuing strength of the commercial property occupier market and CREI’s increasing confidence in the outlook.
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Analyst
Martyn King
Financials analyst
financials@edisongroup.com
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