Yew Grove (YEW): Strong strategy, tenants and total returns
Yew Grove invests in RoI office and industrial real estate, let to a carefully selected type of tenant. Through 2020, 97%-plus of rent has been paid on time, rising to over 99% now. Tenants are creditworthy: 96% large corporate or the government. The strategy creating such a secure income stream also brings high and rising rents. The gross yield on the portfolio is 7.9%. Yew Grove has found asset classes where buyer-competition is modest. The assets are appropriate for the world of COVID-19 and post COVID-19, with generous, uncrowded floorplates. During 2020 the modest voids reduced further. We note the mere 0.01% asset value fall in June.Yew Grove REIT PLC. Yew Grove REIT plc is an Ireland-based company that operates as a real estate investment trust. The Company's investment objective is to provide shareholders with long-term income from a diversified portfolio of property comprising primarily commercial real estate located in geographic target market. Its portfolio includes office and industrial assets let to government entities, state bodies and other foreign direct investment (FDI) companies, as well as corporate. It primarily focuses on properties located in Dublin city (other than the Dublin CBD); within the Dublin Catchment Area, and in IDA Ireland Business and Technology Parks.
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