Schroder European REIT NAV total return drops to 1.7%

Schroder European Real Estate Investment Trust’s NAV total return has dipped from 6.1% to 1.7%, according to the group’s latest results. The group posted its NAV stands at €182.8m for the year ending 31 March 2019. This marks a 4.4 percentage point drop in NAV total return over the same comparable period. EPRA earnings dropped by €1.1m, from €6.5m to €5.4m, and profit dropped to €3.2m compared to €10.8m in 2018. Schroder has grown its exposure to the logistics sector from 13% to 19%. Sir Julian Berney, chairman of the board, said: “This has been an active six-month period for the company, which has seen us make important progress, improving the long-term income profile of the company and increasing our exposure to higher growth regions and sectors. “The company has an exciting asset management opportunity to invest into its Paris Boulogne-Billancourt office investment, potentially delivering growth in rental income and capital value and improving the quality and defensive characteristics of the portfolio.” To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette