GERMAN MARKET
Sirius has dividend target in its sights
Analysts say the operator of business parks is on track to meet its dividend target
German-focused Sirius Real Estate said on Monday that it had grown annualised rental income 2% to €65.2m for the six months to end-September, issuing a trading statement that analysts said indicated the operator of business parks was on track to meet its dividend target. The company announced it had made four acquisitions in September. The like-for-like average rate per square metre rose from €5.11 to €5.17, which the company said represented its ability to secure rate hikes through active management. Sirius, which is dual listed on the JSE and in London, focuses on filling vacancies through its in-house brokerage, mainly targeting tenants that are small and medium-sized enterprises.
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