Warehouse REIT PLC - London-based real estate investment trust - Completes sale of GBP57.5 million of single-let assets in three separate transactions. The combined sales price is in line with the March 31 valuation and represents a net yield on passing rent of 5.8%. Simon Hope at Warehouse REIT says: "Rebuilding dividend coverage is our key priority, and by reducing our debt and our finance costs, the sale of these single-let assets is an important milestone in that respect. At the same time, we continue to reshape our portfolio to focus on the highly attractive multi-let subsector of UK real estate, which plays to our strengths and is where we can drive income and capital growth over the long term."
Current stock price: 80.40 pence each, up 2.0% on Monday morning in London
12-month change: up 1.6%
By Tom Budszus, Alliance News slot editor
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Warehouse Reit (WHR)