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Custodian Property Income REIT (CREI) investor relations material
Custodian Property Income REIT Q1 2027 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Active asset management and a diversified portfolio drove rental growth and supported a fully covered dividend, maintaining an attractive yield of approximately 7%.
Portfolio reversionary potential increased to 15% after a 1% like-for-like ERV rise in Q1, with further upside expected from upcoming lease events.
Resilient occupier demand and positive rental growth were observed across all real estate sectors, including high street and regional offices.
The company remains focused on sustainable dividend growth and selective corporate acquisitions to scale operations.
Financial highlights
Q1 EPRA EPS was 1.5p, matching the previous quarter.
Dividend per share of 1.5p for Q1, fully covered by EPRA earnings, with a target of at least 6.0p for FY27.
NAV increased to £489.0m (100.0p per share) at 30 June 2026, up from £486.7m (99.7p per share) at 31 March 2026.
Portfolio valued at £671.6m, with a like-for-like valuation increase of 0.1% in Q1, net of £1.1m capital expenditure.
Q1 NAV total return per share was 1.8%.
Outlook and guidance
Targeting a dividend per share of no less than 6.0p for the year ending 31 March 2027.
Continued focus on asset management and capturing embedded rental growth through lease events.
Plans to invest in the existing portfolio and pursue selective acquisitions to drive earnings and dividend growth.
- Profit before tax increased to £48.3m, with strong rental growth and a fully covered 6.0p dividend.CREI
H2 2026 - Q3 saw robust rental growth, higher NAV, and a fully covered dividend amid improving market sentiment.CREI
Q3 2026 TU - NAV per share rose 2.9% with strong rental growth, full dividend cover, and enhanced portfolio scale.CREI
H1 2026 - NAV and share price total returns improved, with fully covered dividends and robust portfolio metrics.CREI
H1 2025 - EPRA EPS rose to 5.8p, dividend increased, and occupancy improved to 91.7%.CREI
H2 2024 - Profit, NAV, and dividends rose on valuation gains and strong recurring earnings, with lower gearing.CREI
H2 2025 - Rising rents, high occupancy, and an 8% yield signal strong upside for diversified real estate.CREI
Investor Update
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