Research from Hardman & Co, Hardman & Co

Hardman & Co

Research from Hardman & Co

Investment research on quoted companies and funds

Hardman & Co is a multi-disciplinary financial consultancy and investment research firm, employing highly experienced analysts and professionals with a broad range of capital markets expertise. Our clients are public and private businesses as well as fund managers, ranging from start-ups to £1 billion+ market capitalisations. Hardman & Co offers corporate research & consultancy, serving the needs of both public and private companies. We produce gold-standard research with a global reach for trading and investment companies, as well as providing market commentary and analysis. In addition, we carry out a number of bespoke investment-related assignments, including due diligence on bond listings, assessments of private company valuations and other corporate advisory services. We engage with the market through traditional and digital media, offering illuminating video content on corporate management strategy, results communication, interviews and in-house sector discussion.

Equity Bottom-Up

<ul><li>The structure and investment remit of the real estate investment trust (REIT) have been proven to be resilient and position it strongly for the short- and medium-term future.</li><li>The investment return emphasis is on income, which is generated from a diverse portfolio with modest capital gearing.</li><li>Because Custodian Property Income REIT (CREI) is designed to focus on smaller, individual property lot sizes, it acquires at higher asset yields than the market in general.</li></ul>

The structure and investment remit of the real estate investment trust (REIT) have been proven to be resilient and position it strongly for the short- and medium-term future.The investment return emphasis is on income, which is generated from a diverse portfolio with modest capital gearing.Because Custodian Property Income REIT (CREI) is designed to focus on smaller, individual property lot sizes, it acquires at higher asset yields than the market in general.

Hardman & Co Investor Forum Research on Custodian Property Income REIT (CREI): Good momentum

Leading International Investment Research, Edison Investment Research

Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Custodian Property Income REIT’s (CREI’s) Q225 trading update points to strong H1 performance when results are released in December. With income growth supported by leasing progress and rental growth, DPS (+9% y-o-y) is fully covered. Reflecting improved investment market sentiment and asset management, portfolio valuations show early signs of recovery. CREI expects this to continue.

Custodian Property Income REIT’s (CREI’s) Q225 trading update points to strong H1 performance when results are released in December. With income growth supported by leasing progress and rental growth, DPS (+9% y-o-y) is fully covered. Reflecting improved investment market sentiment and asset management, portfolio valuations show early signs of recovery. CREI expects this to continue.

Custodian Property Income REIT - Significant uplift in fully covered DPS

Custodian Property Income REIT (CREI) has published its Q125 NAV and trading update. With rental growth continuing, Q125 DPS (+9% vs Q124) is in line with the full year target of 6.0p and was fully covered. The dividend-driven quarterly NAV total return was 1.6%, while the share price yield is almost 8%. Property values appear to have stabilised and CREI expects a benefit from interest rate reductions.

Custodian Property Income REIT (CREI) has published its Q125 NAV and trading update. With rental growth continuing, Q125 DPS (+9% vs Q124) is in line with the full year target of 6.0p and was fully covered. The dividend-driven quarterly NAV total return was 1.6%, while the share price yield is almost 8%. Property values appear to have stabilised and CREI expects a benefit from interest rate reductions.

Custodian Property Income REIT - Positive outlook for further growth

Custodian Property Income REIT’s (CREI’s) confidence in its organic growth outlook is reflected in accelerated, fully covered DPS growth. Reversionary income potential is strong and, with the occupier market remaining robust, average rental values have continued to increase, providing ongoing support for the company’s enhanced income strategy. The prospective dividend yield is 7.8% and the expected decline in interest rates should benefit earnings and support property valuations and NAV.

Custodian Property Income REIT’s (CREI’s) confidence in its organic growth outlook is reflected in accelerated, fully covered DPS growth. Reversionary income potential is strong and, with the occupier market remaining robust, average rental values have continued to increase, providing ongoing support for the company’s enhanced income strategy. The prospective dividend yield is 7.8% and the expected decline in interest rates should benefit earnings and support property valuations and NAV. 

Custodian Property Income REIT - Organic growth paying dividends

Custodian Property Income REIT (CREI) has published results for the year ended 31 March 2024 (FY24). As previously indicated in the Q424 update, set against a challenging market environment, FY24 performance was strong. Underpinned by leasing progress and rental growth, EPRA EPS increased 3.6% to 5.8p, fully covering the targeted recurring DPS of 5.5p and the 0.3p special dividend. The FY25 annual DPS target is 6.0p (+9%), underpinned by the robust occupier market and CREI’s increasing confidence in unlocking the significant value embedded in its portfolio.

Custodian Property Income REIT (CREI) has published results for the year ended 31 March 2024 (FY24). As previously indicated in the Q424 update, set against a challenging market environment, FY24 performance was strong. Underpinned by leasing progress and rental growth, EPRA EPS increased 3.6% to 5.8p, fully covering the targeted recurring DPS of 5.5p and the 0.3p special dividend. The FY25 annual DPS target is 6.0p (+9%), underpinned by the robust occupier market and CREI’s increasing confidence in unlocking the significant value embedded in its portfolio.

Custodian Property Income REIT - Organic earnings and dividend growth

United Kingdom

Custodian REIT plc is a real estate investment trust. The Company invests in commercial properties, including industrial, retail and office properties throughout the United Kingdom.

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Custodian REIT (CREI LN)

Hardman & Co Investor Forum Research on Custodian Property Income REIT (CREI): Good momentum

The structure and investment remit of the real estate investment trust (REIT) have been proven to be resilient and position it strongly for the...

Hardman & Co

Custodian Property Income REIT - Significant uplift in fully covered DPS

Custodian Property Income REIT’s (CREI’s) Q225 trading update points to strong H1 performance when results are released in December. With income...

Edison Investment Research

Custodian Property Income REIT - Positive outlook for further growth

Custodian Property Income REIT (CREI) has published its Q125 NAV and trading update. With rental growth continuing, Q125 DPS (+9% vs Q124) is in...

Edison Investment Research

Custodian Property Income REIT - Organic growth paying dividends

Custodian Property Income REIT’s (CREI’s) confidence in its organic growth outlook is reflected in accelerated, fully covered DPS growth....

Edison Investment Research

Custodian Property Income REIT - Organic earnings and dividend growth

Custodian Property Income REIT (CREI) has published results for the year ended 31 March 2024 (FY24). As previously indicated in the Q424 update,...

Edison Investment Research

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