- Industrial property portfolio declines 15.4 per cent in final quarter of 2022
- Property portfolio now worth £209mn
- Net asset value (NAV) per share of 104.9p
- 36 per cent loan-to-value ratio with significant headroom on all loan covenants
AEW UK Reit (AEWU:101p), a valued focused Reit that holds a portfolio of 37 regional UK commercial property assets, has reported a 10.8 per cent like-for-like valuation decline in the final quarter of 2022.
It wasn’t entirely unexpected, hence why AEW’s share price is up since I covered the interim results when I rated the shares a hold at 94p (‘Positioning for a commercial property downturn’, 16 November 2022). The portfolio also outperformed the benchmark CBRE monthly index, which registered a cumulative decline of 14.57 per cent in the same three-month period.