Leading International Investment Research

Edison 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.

Leading International Investment Research, Edison Investment Research

Equity Bottom-Up

<p>Strong leasing activity is supporting EPRA earnings and Custodian REIT (CREI) is on track to meet its FY23 DPS target of not less than 5.5p, fully covered. Despite the robustness of occupational demand and continued rent growth in many areas, capital values began to reprice to increased bond yields. We expect these trends to continue, with EPRA earnings and DPS progressing further while asset values and net asset value (NAV) decrease further. </p>

Strong leasing activity is supporting EPRA earnings and Custodian REIT (CREI) is on track to meet its FY23 DPS target of not less than 5.5p, fully covered. Despite the robustness of occupational demand and continued rent growth in many areas, capital values began to reprice to increased bond yields. We expect these trends to continue, with EPRA earnings and DPS progressing further while asset values and net asset value (NAV) decrease further. 

Custodian REIT - Robust EPRA earnings but decreased NAV