LXi REIT boosts dividend as portfolio rises

LXi REIT is confident that it will collect 100% of rents as its portfolio rises to £1.33bn. The long-income specialist said that the rise reflected a 3.3% like-for-like increase over the last quarter and a 9% rise in total. It added that its annual dividend would be 6.3p per share. Chair Stephen Hubbard said the update reflects the REIT’s “solid foundation of secure, long-dated and index-linked assets diversified across structurally supported sectors and robust tenants, underlined by our continuing very strong and resilient collection of rent due”. He added that, with 96% of the group’s contracted rents either inflation-linked or containing fixed uplifts, “the group’s portfolio is well-placed to deliver defensive inflation-protected income returns and capital growth going forward”. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews