Home REIT collects 100% of rents due through 31 August

1st Nov 2022 08:24

(Sharecast News) - Sheltered housing provider Home REIT said on Tuesday that it had collected 100% of rents due on 31 August.

Home REIT stated it carried out 711 index-linked rent reviews since 31 August, with an average annualised rental growth rate of 3.5% on the rents reviewed.

The FTSE 250-listed group noted that this equates to like-for-like rental growth across the portfolio of 3.5% since 31 August and takes total annual rent to £53.9m at the end of August.

Home REIT also noted that whilst the wider economic backdrop had resulted in "uncertainty" over recent months, its independent valuer confirmed that it had not observed "any transactional activity" that would imply "a material change" in the investment yields used to value the company's assets as of 31 August.

As of 0855 GMT, Home REIT shares were up 1.78% at 85.60p.

Reporting by Iain Gilbert at Sharecast.com