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AEW UK REIT first-quarter NAV edges lower due to acquisition costs

Friday, 27th April 2018
AEW UK REIT said the value of its property portfolio increased in the first quarter, though its net asset value fell.

At 31 March, the portfolio was worth £192.34m, based on an independent valuation, up from £151.59m, following five acquisitions during the period totalling £40.02m.

However, on a like-for-like basis the valuation of the property portfolio increased by £0.74m, or 0.5%.

The company's net asset value slipped to 96.36p per share, down from from 97.21p share, largely due to purchase costs relating to the acquisitions.

Excluding purchase costs, the NAV would have increased to 97.91p per share.

The property investor declared an interim dividend of 2.00p per share for the three months ended 31 March.

At 8:36am: (LON:AEWU) AEW UK REIT Plc share price was 0p at 95.8p

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