Recently listed Newpark Reit, which owns A-grade commercial and industrial properties, grew its distributable earnings per share 6.6% in the six months to August. The company is on track to meet its dividend forecast for the February 2018 financial year. The board declared an interim dividend of 26.64973c per share. Newpark one of the smallest real estate investment trusts (Reits) listed on the JSE, has positioned itself as an income play rather than a stock offering just capital appreciation. Newpark’s property portfolio consists of four properties with a combined value of R1.34bn at the year end on February 28. "Newpark’s investment strategy is to seek well-positioned prime commercial and industrial properties, which provide quality cash flows with the potential of upward rating on lease renewals and/or redevelopment opportunities within the medium to long term," CEO Simon Fifield said. The company said that it would deliver growth of between 6.5% and 7.5% in distributable income ...
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