In QuotedData’s morning briefing 28 February 2024:

• Grit Real Estate Income Group (GR1T) has reported a 6.4% fall in EPRA net reinstatement value (NRV) to $68.1 cents per share in the six months to 31 December 2023. This was predominantly driven by a 2.7% fall in the value of its portfolio. Net operating income increased 0.6% (up 15.6% excluding the impact of disposals). During the period, Grit acquired a controlling stake in developer Gateway Real Estate Africa (GREA – which has an extensive pipeline including US embassy-let diplomatic housing schemes, data centres and hospitals) and asset manager APDM. These were consolidated on Grit’s balance sheet for 1 January 2024. The company has resumed the payment of dividends, declaring $1.50 cents per share for the period. Group LTV increased to 47.6% (from 44.8%) with the weighted cost of debt increased to 9.62%, resulting in a $1.5m increase (8.2%) in finance costs for the six-month period.