TR Property reported its interim results on the 25 November 2015. Whilst the NAV only rose by 0.6% on a total return basis, it outperformed the benchmark which fell 1.95%. The shares have been weak over the past month and are now trading on a wide 5% discount to NAV compared with the wider UK Real Estate sector on a 1% discount. In contrast, the outlook for the property markets in its areas of focus (UK, Germany and Sweden) remains attractive, as does its 2.7% dividend yield. We reiterate our Buy rating.
In a video interview before half-year results from TR Property, a top-performing property equity fund, Marcus Phayre-Mudge, manager of the investment trust, addresses the two main concerns investors have towards commercial property.
We recently visited one of TR Property’s direct property assets, The Colonnades, Bayswater and provide a brief overview of the project. Management is making good progress with the redevelopment of five new retail units plus Waitrose with completion expected in November 2015.
Wed, 04/06/2014 – 14:10 Property Funds World
TR Property Investment Trust has sold its Park Place, London SW8 property for £14.47m in a deal that will see the trust make a 70 per cent return on the asset.
In this video Marcus Phayre-Mudge discusses investment opportunities within commercial property with Jeremy Tigue of the F&C Investment Trust and Ian McBryde of F&C UK Real Estate Trust