Real Estate ate ate Investors ( (GB:RLE) ) has issued an announcement.
Real Estate Investors Plc reported its final results for 2024, highlighting significant sales above book value and a reduction in debt. The company completed sales of £18.9 million, which allowed it to reduce its total debt by 27.9% to £39.2 million. Despite a decrease in revenue due to asset sales, the company maintained a robust rent collection rate of 99.94% and improved its loan-to-value ratio. The company is optimistic about future market conditions and plans further sales and debt reduction in 2025, while continuing to pay dividends.
More about Real Estate ate ate Investors
Real Estate Investors Plc is a publicly quoted, internally managed property investment company and REIT with a portfolio of mixed-use commercial property. It operates primarily in the Midlands property market, with a focus on optimizing returns to shareholders through strategic sales and debt reduction. The company has a diverse portfolio with no material reliance on a single asset or occupier and continues to pay a fully covered quarterly dividend.
YTD Price Performance: -3.39%
Average Trading Volume: 149,514
Technical Sentiment Signal: Buy
Current Market Cap: £49.7M
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