Source - SMW
Secure Income REIT upped its dividend by 31% after increased rental income helped it boost its first-half earnings.

The property investor declared an interim dividend for the six months through June of 7.9p, up from 6.0p on-year.

Its EPRA net assets per share -- an underlying measure of performance preferred by the company -- rose 5% to 420.5p.

Annualised passing rent, on a like-for-like basis, rose 1.9% to £111.1m, while adjusted EPRA earnings per share rose 31% to 8.1p.

'With political uncertainty reaching a crescendo in the UK and recession fears spreading across the world, bond yields have plummeted as investors seek safety,' chief executive Martin Moore said.

'Income returns on most safe haven assets are now minimal yet Secure Income REIT's property portfolio continues to offer a net initial yield of 5.1%, secured on leases of over 21 years without break let to strong tenants in defensive sectors.'

'The recent sale of £347m of our non-core hospitals at a price 16% above valuation demonstrates the strong attraction of well-let alternative property and provides the company with over £230mto redeploy as and when opportunities arise.'

'With a robust balance sheet and a strongly performing portfolio delivering 5% NAV growth in the first half of the year we continue to view the future with confidence.'




 
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