LXi reports active six months of portfolio growth

LXi REIT has hailed “another busy and successful six months” as its portfolio grew 14.3% in the half year to 30 September. The long-income investor has built a portfolio of £318.8m since its IPO in February 2017. It delivered 4.95% growth in its EPRA NAV to 113p per share. Since September, LXi has raised £175m of new equity, taking its market cap to more than £400m. LXi was one of a slew of secure-income investors to list on the London Stock Exchange last year, targeting income-producing assets that would be less vulnerable to economic uncertainty or turmoil in the retail market. In a statement this morning, chairman Stephen Hubbard said: “The board believes that in a continuing environment of economic and geopolitical uncertainty due to major political events, the group’s portfolio is resilient and increasingly attractive. “This has been another busy and successful six months, implementing our investment strategy, delivering on and, in many cases, exceeding our targets.” It is trading at a slight premium to NAV, at 116p per share. To send feedback, e-mail karl.tomusk@egi.co.uk or tweet @karltomusk or @estatesgazette