Edison Investment Research Provides Update on Custodian Property Income REIT, Reports Dividend Increase

Edison Investment Research Limited announced a significant update on Custodian Property Income REIT (CREI), detailing a robust performance for the fourth quarter of 2024. The report highlighted a strong leasing progress and rental growth, culminating in a positive annual summary. As a reflection of CREI’s performance in Fiscal Year 2024, shareholders will receive a special dividend of 0.3p per share on top of the aggregate quarterly dividend payment of 5.5p, which is fully supported by EPRA earnings.

Looking into Fiscal Year 2025, CREI has set an increased annual dividend per share (DPS) target of 6.0p, marking a 9% increase from the previous year. This target is bolstered by the sustained strength in the commercial property market and CREI's growing optimism about future market conditions. Moreover, the expected yield for FY25 is a compelling 7.8%, coupled with the potential for capital appreciation. The discount to FY24 net asset value (NAV) stands at 18%.