- Net asset value (NAV) total return of 4 per cent
- NAV per share up one per cent to 59.4p
- 7 per cent dividend yield
- 15 per cent discount to NAV
Schroder Real Estate Investment Trust (SREI:50.5p) continues to outperform its MSCI benchmark by targeting higher growth sectors benefiting from structural trends.
Multi-let industrial warehouses (50 per cent of the portfolio) and retail warehousing (12 per cent) were the key drivers behind the like-for-like 0.9 per cent increase in the value of the £465mn portfolio in the latest six-month trading period. The portfolio is highly reversionary, too. That’s because estimated open market rental value (ERV) of £39.4mn is 30 per cent higher than the current annualised rental income.