Cost ControlCosts remain very well controlled with an EPRA cost ratio of 10.1% (unchanged), one of the very lowest in the UK REIT sector.
Dividend YieldA dividend yield of 7.5%, fully covered by earnings, is derived from the highest quality tenant covenant in real estate, which should be supportive of the current relative premium to the wider sector.
Earnings GrowthPHP's results show another year of earnings growth, with EPS up 3%, allowing the company to pay a fully covered dividend of 6.9p, representing the 29th consecutive year of growth since IPO.