Retail Estates - In-line Q3 with dividend guidance confirmed
Q3 results closed end December. EPRA Earnings stood at EUR 67.36m, up 2.3% YoY, with per share result at EUR 4.68 (-1.3%, shares outstanding +3% YoY). Excluding the impact of one-off Dutch REIT tax refund received in FY22/23, EPRA EPS was up 4.2% YoY.Occupancy remains stable at 97.9%. Portfolio value reaches EUR 2.01bn (+6.5% YoY) as a result of Alexandrium Megastores acquisition closed in October 2023 (+EUR 81.5m) and positive portfolio revaluation (+EUR 40.4m, unchanged vs H1). EPRA NTA stood at EUR 75.81, up 2.8% vs March 2023. The company confirms its dividend guidance at EUR 5.00 per share forRetail Estates is a niche fixed-capital real estate investment fund that invests in retail properties located on the periphery of residential areas or along access roads to urban centers. Co. buys properties from third parties or builds and markets shop premises for its own account. The outlets have a built on surface areas of between 500m2 and 3,000m2. A typical retail property has an average surface area of 1,000m2. As of Mar 2010 Co. had 399 premises in its portfolio. The retail lettable area amounted to 398,754m2.
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