Alpha Real Estate Trust's net asset value grows on German acquisition
Updated : 14:54
AIM-listed trust Alpha Real Estate saw its net asset value grow across the first half of its trading year, leading it to up its interim dividend by 50%.
Net asset value grew 6% year-on-year to £122.15m after Alpha acquired an industrial facility in Hamburg, Germany for £14.8m as part of its efforts to actively augment and diversify its portfolio of mezzanine loan investments.
Alpha also invested a further £12.3m into its loan portfolio during the period and has dropped an additional £1.8m into the same portfolio since the period ended on 30 September.
Basic earnings per share slipped to 2.5p from the 3p recorded a year earlier.
Chairman David Jeffreys, said: "The company remains well positioned to continue to deliver attractive returns through investing, realising and re-investing its capital in asset-backed investment opportunities."
As of 1020 GMT, Alpha shares were 1.79% higher at 139.96p.