AEW UK REIT has increased its net asset value and met its target income returns of 8p per share, according to its full-year results for the year ended 31 March 2019.
It reported a NAV of £149.5m, up from £146m the previous year.
Its total dividends of 8p per share mark an increase from 7.3p per share the previous year.
Mark Burton, chairman of AEW UK REIT, said: “A key feature of the financial year has been achieving the target income returns… Such returns demonstrate the success of both the company’s investment strategy and the stock selection process of the investment manager when deploying the proceeds of the most recent capital raise, as well as our active asset management. The board expects this level of return to continue, with further value expected to be gained through asset management initiatives in the short term.”
He added that the firm’s portfolio of 35 commercial investment properties throughout the UK was “defensively positioned for any Brexit outcome” as it had “no exposure to London offices and broad diversification by sector and region.”
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