Standard Life Investments Property Income (GB:API) has released an update.
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abrdn Property Income Trust Limited, focused on UK property investment, navigated a challenging economic environment marked by inflationary pressures and geopolitical tensions in 2023. Despite these conditions, the Group maintained a strong financial position with a total asset value of £456.1 million, a slight increase from the previous year. The NAV per share decreased by 7.8%, and the share price declined by 15.1%, resulting in a discount to NAV of 32.2%. The dividend yield stood at a competitive 7.5% compared to the industry averages. The Group’s future is subject to a shareholder vote on a proposed managed wind-down following the rejection of a merger with Custodian REIT, reflecting the Board’s response to concerns about the Company’s size and market liquidity.
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