Custodian Property Income REIT: Interim Results Highlight Asset Growth

Custodian Property Income REIT plc reported interim results for the six months ending September 30, 2024. The diversified property portfolio drove earnings growth and covered dividends. The share price total return was 8.8%, while the net asset value (NAV) return was 3.6%, supported by a fully covered dividend.

Dividends per share rose to 3.0p from 2.75p in 2023. Despite economic uncertainties, the real estate outlook for 2025 is optimistic. Falling vacancy rates and improved rental values hint at a potential recovery in property valuations.

Strategic asset management fueled income growth, with earnings per share increasing to 3.0p from 2.9p. Leasing activities brought significant new rents, contributing to a robust financial year. Fixed debt facilities mitigate interest rate risk, maintaining a 4% debt cost.