Regional REIT down after reporting half-year loss

Regional REIT

12/09/2023 14:22

** Shares of Commercial Regional REIT  RGLR.L  down 13.8% at
38.5p
    **  Co reports HY loss before tax of 12.1 mln pounds 
($15.08 million) vs profit of 28.3 mln stg, a year earlier 
    ** RGLR's portfolio value decreased by 3.8% to 752.2 mln stg
on like-for-like basis
    ** Says it remains vigilant to continued macroeconomic
uncertainty over short term despite improvement in UK economy
    ** Lowers interim dividend to 2.85p per share from 3.30p per
share
    ** Brokerage Peel Hunt cuts price target on the stock to 60p
from 65p 
    ** "Revise down our EPS, DPS and EPRA NTA per share
forecasts, reflecting a de-levering of the balance sheet and a
more muted recovery in portfolio occupancy levels"- brokerage 
    ** As of last close, stock down 34.6% YTD


($1 = 0.8026 pounds)

 (Reporting by Zainab Saifuddin Saifee in Bengaluru)
 ((Zainab.SaifuddinSaifee@thomsonreuters.com; +91 8766460080;))