Picton has increased the value of its portfolio by 24% year-on-year, according to its half-year results.
The former subsidiary of ING Real Estate holds £606.3m of property assets, up from £487.1m in the same period of 2014, helping NAV rise by 18% to 73p per share.
The company invested £54.6m in new property assets over the six months to the end of September at a 7.7% yield and disposed of £6.2m for a combined yield of 2%.
An end to some rent-free periods and new lettings increased earnings across the company, helping keep profit at a stable level of £31.9m, compared to £31.8m the year before.
The dividend for the half year increased from 1.5p to 1.7p per share despite a dip in earnings per share over the same period from 7.5p to 5.9p.
