P134 AERTEL 1 134 Wed 23 Feb 08:42:10 1/4 I-RES REIT'S 2021 REVENUES RISE 23 Feb 2022 08:12 The State's largest property owner, Irish Residential Properties REIT, has reported higher profits and revenue for 2021 and said it continues to see robust demand continuing over the long term. Irish Residential Properties REIT said its profits for the 12 months to the end of December increased by 15.8% to E67.5m. Net Rental Income for the year rose by 5.4% to E63m, while revenue from Investment Properties grew by 6.7% to E79.7m from E74.7m the previous year. AERTEL ONLINE - RTE.IE/AERTEL Next ISEQ Dublin Stocks Business
P134 AERTEL 1 134 Wed 23 Feb 08:42:31 2/4 I-RES REIT'S 2021 REVENUES RISE 23 Feb 2022 08:12 It said today's results reflected continuing growth in its portfolio from acquisitions, organic rental growth and increased occupancy levels. The company also said that it maintained high residential occupancy levels of 99.1% as at December 31, 2021. Total rent collections (including commercial rent collections) stood at 99.2%, which the company said represents a very strong outturn under the current exceptional Covid-19 conditions. AERTEL ONLINE - RTE.IE/AERTEL Next ISEQ Dublin Stocks Business
P134 AERTEL 1 134 Wed 23 Feb 08:41:29 3/4 I-RES REIT'S 2021 REVENUES RISE 23 Feb 2022 08:12 Irish Residential Properties REIT said it intends to declare a dividend of 3.08 cents per share for the year. During the year, it said it continued its growth strategy with investment in 148 new homes since December 2020, bringing its overall portfolio of homes for rental to 3,829 by the end of the year. It closed the acquisition of a portfolio of 146 residential units at the Phoenix Park Racecourse in January 2021 and said it has invested in 130 new apartments and town houses due for delivery in 2022 at Bakers Yard. AERTEL ONLINE - RTE.IE/AERTEL Next ISEQ Dublin Stocks Business
P134 AERTEL 1 134 Wed 23 Feb 08:41:50 4/4 I-RES REIT'S 2021 REVENUES RISE 23 Feb 2022 08:12 It also entered into a 25-year social housing lease for 128 units at Hampton Wood in August. AERTEL ONLINE - RTE.IE/AERTEL Next ISEQ Dublin Stocks Business