Alpha Real Trust ups quarterly dividend as NAV moves ahead

Alpha Real Trust saw net asset value per share move ahead in the three months ended 31 December, leading it to up its quarterly dividend payment.

Net asset value per ordinary share and A share rose 15.2% quarter-on-quarter to 205.6p, while basic earnings for the first nine months of Alpha's trading year came to 31.9p per ordinary share and A share.

Alpha also turned in a total NAV growth of 19% in the 2018 calendar year, principally driven by realised sales, leading the trust to declare an increased quarterly dividend of 0.8p per ordinary share, expected to be paid on 26 April.

The AIM-listed trust said it had also made material post period end sales of its build-to-rent investments, including the sale of its Frankfurt data centre site for €44.8m and its Monk Bridge, Leeds Private Rented Sector residential site for £15.2m - the sale proceeds of which will be primarily redeployed into its growing secured senior and mezzanine debt portfolio.

Looking forward, Alpha said it remained "well positioned" and also maintained an active pipeline of potential new secured senior and mezzanine loans and other investment opportunities under review.

As of 0930 GMT, Alpha shares had shot up 9.04% to 159.20p.