LXi REIT anticipates strong H1 results

LXi REIT’s portfolio has swelled by nearly 30% over the past six months to £1.22bn. The inflation-protected long-income REIT made the announcement in a trading update ahead of its half-year results, which will be published in November. Knight Frank’s valuation shows a like-for-like increase over the six-months to the end of September of 4.9%, but a total increase of 29.7%, including acquisitions and disposals. The like-for-like increase was led by industrial and pubs at 7%, while drive-through coffee was just 2%. LXi said it expects to announce NAV per share of approximately 133.5p, reflecting growth of approximately 6.2% over the six-month period. Inclusive of dividends paid during the six-month period, LXi expects to deliver a total NAV return of approximately 8.6% for the half-year, beating its target of 8%. It added that it had collected 100% of rent and the 171-property portfolio was 100% let. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews