Hardman & Co Insight: Safer harbour REITs: an update – REITs of interest as investors go back into lockdown
Since 2019, Hardman & Co has been publishing on its selected basket of 17 REITs, which offer what we consider to be relative security of income. Here, we update our previous two sector reports.Even post the recent bounce of volatile REITs, such as British Land’s near 20% rise on Monday 9 November, the Hardman & Co basket has outperformed all-UK real estate stocks by 10% this year, after rising 15% in 2019. What should we expect from here? We see resilience, with 4.8% average dividend yields, and rising dividends. 68% of underlying rents come from government, logistics or supermarkets. A very similar proportion is on indexed uplifts, and most leases are over 10 (many over 15) years-long.
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