Circle Property PLC Edison issues outlook on Circle Property (CRC)

TIDMCRC

Circle Property PLC

09 July 2018

London, UK, 9 July 2018

Edison issues outlook on Circle Property (CRC)

Circle actively manages its assets, placing an emphasis on total returns rather than short-term income maximisation. With three significant office refurbishments recently completed and in various stages of letting, it continues to harvest the benefit in terms of rising income and capital values, supporting growing dividends and NAV. FY18 NAV total return was 28.3% and, since the February 2016 IPO, the compound annual total return has been 26.2% pa. With a positive supply-demand balance in regional office markets continuing, we believe there are more gains to come.

The shares have performed strongly over the past year, particularly since the April trading update ahead of FY18 results, to a large extent tracking the growth in NAV. Our revised forecasts show further growth in NAV and DPS over the next two years, leaving the shares at a c 20% discount to FY20e NAV and yielding 3.2% with a well-covered dividend.

Click here to view the full report.

All reports published by Edison are available to download free of charge from its website

www.edisoninvestmentresearch.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Martyn King, [phone]

Andrew Mitchell, [phone]

[e-mail]

Learn more at www.edisongroup.com and connect with Edison on:

   LinkedIn        https://www.linkedin.com/company/edison-investment-research 
   Twitter           www.twitter.com/Edison_Inv_Res 
   YouTube       www.youtube.com/edisonitv 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

NRABKLFBVDFEBBQ

(END) Dow Jones Newswires

July 09, 2018 07:00 ET (11:00 GMT)