Dividend up, vacancy down
Regional REIT (RGL) issued a trading update on 25 May providing portfolio statistics and declared a dividend of 1.8p for Q117 and then announced a major new letting on 30 May. Management has continued to reduce tenant concentration and has further rebalanced the portfolio towards offices and away from Scotland, in line with the intentions stated when it listed in November 2015. Regional economies remain robust, supporting occupier demand, while investment in new buildings is still subdued, constraining supply. RGL offers an attractive dividend supported by a growing portfolio of high-yielding assets in markets that may be more resilient to macroeconomic headwinds than London real estate.Regional REIT is a real estate investment trust company. Co. is engaged in the investment, management and disposition of regional property assets. Co.'s commercial property portfolio is in the U.K. comprises of offices and industrial units located in the regional centers of the U.K. outside of the M25 motorway. As of Dec 31, 2016, the portfolio is diversified with 123 properties, 941 units and 717 tenants.
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