Custodian REIT: a premium investment at a discount
Custodian REIT is a real estate investment trust (REIT) focused on UK commercial property, managing a portfolio of 161 properties spread across UK regions and property sectors. The company recently released an update for the quarter ended September 2020. This showed rental collections stabilising at 88%, albeit below the usual higher run rate. The level of rental income provided the company with enough visibility on cash flow to declare a dividend for the quarter above the level of the previous quarter.
Since listing in 2014, the Custodian share price has outperformed the UK REIT sector and the wider UK stock market, driven by strong underlying returns on the investment portfolio. In this report, we examine the fundamental portfolio characteristics that have sustained the long term outperformance and enabled resilient relative performance in 2020. Key differentiators include:
Quick facts: Custodian REIT
Price: 94.4 GBX
Market Cap: £396.53 m
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