Custodian REIT - Reinstating forecasts with improved DPS outlook
Amidst challenging market conditions, Custodian REIT (CREI) declared a Q121 DPS 0.95p, 27% ahead of the minimum level indicated for each of the first two quarters of FY21, and fully covered by net cash receipts. With robust rent collection and the lockdown easing, we have reinstated our estimates and look for the quarterly DPS run rate to increase in H221.Custodian REIT is a U.K. real estate investment trust with a portfolio comprising regional properties predominantly let to institutional grade tenants throughout the U.K. Co. provides investors access to a diversified portfolio of U.K. commercial real estate through a closed-ended fund. Co. has appointed Custodian Capital Limited as Investment Manager and Alternative Investment Fund Manager. The Investment Manager provides property management and administrative services to Co.
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