Edison issues update on Custodian Property Income REIT (CREI): Significant uplift in fully covered DPS

London, UK, 7 Mai 2024

Edison issues update on Custodian Property Income REIT (CREI): Significant uplift in fully covered DPS

Custodian Property Income REIT (CREI) produced a strong Q424 performance, driven by leasing progress and rental growth, rounding off a positive year. Reflecting FY24 performance, the company will pay a special dividend of 0.3p per share, additional to aggregate quarterly DPS of 5.5p, fully covered by EPRA earnings. The FY25 annual DPS target is increased by 9% to 6.0p, underpinned by the continuing strength of the commercial property occupier market and CREI’s increasing confidence in the outlook.

The FY25 DPS target represents an attractive yield of 7.8%, with the potential for capital growth, while the discount to FY24 NAV is 18%.

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