TR Property Inv Trust (TRY)

Down
Share Price:
311.00p
Market Cap:
£986.96m
Change Today:
-1.00p
Sector:
Investment Firms

TR Property to draw on reserves to pay dividends

By Sean Farrell

Date: Friday 29 May 2020

LONDON (ShareCast) - (Sharecast News) - TR Property Investment Trust said earnings would fall this year but that it would be able to draw on reserves to pay its dividend during the Covid-19 crisis.
The FTSE 250 property investor increased its final dividend by 2.3% to 8.8p a share taking the annual payout to 14p a share - up 3.7%.

Net asset value per share fell 14.4% to 358.11p in the year to the end of March and the NAV total return was -11.5%. The company said until mid-February performance was strongly positive but returns were wiped out in the last few weeks of the year as the Covid-19 crisis erupted.

"Rarely has any 12-month reporting period been so dominated by the events of the last six weeks of the financial year which moved the performance so considerably," Chairman Hugh Seaborn said. "The unprecedented impact of Covid-19 has swept aside much of the relevance of previous market conditions, for the time being."

The crisis caused several companies in which TR invests not to pay dividends as expected. The company said it expected earnings to fall in the current financial year but that it expected to use reserves to pay its own dividends.

"The Company has a healthy level of revenue reserves which have been accumulated over time to provide resilience in the event of a crisis," Seaborn said. "These will be used to supplement short to medium term falls in earnings until such a time as conditions settle and the Board can determine the long-term income capability of the portfolio."



Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

TRY Market Data

Currency UK Pounds
Price 311.00p
Change Today -1.00p
52 Week High 355.00p
52 Week Low 295.00p
Volume 1,200,386
Shares Issued 317.35m
Market Cap £986.96m

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
market
  1. full market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Price Trend
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
Income
market
  1. full market star
  2. full market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
Growth
market
  1. full market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Price Chg 6m
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. half sector star
  5. empty sector
P/E
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. half sector star
  5. empty sector
PEG
market
  1. half market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. half sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Dividend Yield
market
  1. full market star
  2. full market star
  3. full market star
  4. half market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
EPS Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
Operating Margin
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. half market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. half sector star