UK's AEW UK REIT full-year NAV falls
UK's AEW UK REIT full-year NAV falls
Overview
UK commercial property REIT's full-year NAV fell 1.42% yr/yr to £172 mln
Rental income grew slightly to £19 mln as portfolio delivered 6.8% total return
Outlook
AEW UK REIT aims to maintain disciplined portfolio management for income and capital growth
Result Drivers
INCOME FOCUS - Strong income return from property portfolio, driven by active asset management and selective acquisitions, supported results
VALUATION DECLINES - Gains were held back by valuation declines at assets with ongoing business plans or tenant vacancies, including office sector and administration of a major tenant
RETAIL OUTPERFORMANCE - Counter-cyclical acquisitions and asset management in retail supported strong total returns in that sector
Company press release: ID:nRSZ8578Ja
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
FY Rental Income |
| GBP 19.01 mln |
|
FY Operating profit before fair value changes |
| GBP 14.15 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the commercial reits peer group is "buy."
Wall Street's median 12-month price target for AEW UK REIT PLC is GBp115.00, about 10.6% above its June 25 closing price of GBp104.00
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 14 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)