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Custodian Property Income REIT PLC on Wednesday said it turned a loss in the first half, as net asset value dropped.
The Leicester, England-based real estate investment trust said NAV per share for the half-year that ended September 30 was 113.7 pence, down 5.0% from 119.7p per share in March.
Custodian Property said NAV total return per share was negative 2.7%, swinging from positive 12% a year ago.
The company declared an interim dividend of 2.75p per share, up 10% from 2.5p per share a year prior. It said it expects to achieve a target total dividend of 5.5p, based on rent collection levels remaining at their current levels.
Custodian Property reported an interim pretax loss of £14.1 million, swinging from a profit of £48.1 million a year ago. Revenue grew 10% to £22.3 million from £20.2 million.
Chair David Hunter said: ‘The company‘