Transcend brings home the bacon at the halfway stage
The residential-focused Reit collects more rent after easing of lockdown restrictions
Transcend Residential, the real estate investment trust (Reit) focused on residential property assets, had a strong recovery in the six months to end-June 2021, collecting more rent as its tenants returned to work or saw their salaries rise to normal levels amid less strict lockdown restrictions.
The group, which owns assets worth R2.52bn, managed to grow its dividend by 108.35% in the reporting period to 25.21c, compared with the six-month period to end-June 2020, and paid out 100% of its distributable earnings. ..