Regional REIT - Reinstating estimates after robust H120

COVID-19 impacts were successfully mitigated in H120 with the group’s highly diversified portfolio and pro-active, fully integrated asset management approach delivering a resilient performance with strong rent collection and continued quarterly dividend payments, albeit at a reduced level. The management team is experienced, borrowings are secure, and liquidity strong. Uncertainties remain but the targeted fully covered DPS, represents an attractive yield at top end of the broad UK property sector