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Warehouse REIT declares dividend, ups target for year ending March 31, 2019

Warehouse REIT plc declared a dividend of 1.5 pence per share for the quarter to March 31, taking the dividends declared for the period since its Sept. 20, 2017, IPO in London to 2.5 pence per share.

The quarterly dividend will be paid July 6 to shareholders on record June 8.

The industrial real estate investment trust also upgraded its per-share dividend target for the year ending March 31, 2019, to 6.0 pence from 5.5 pence. Warehouse REIT Chairman Neil Kirton attributed the increase to the sector benefiting from yield compressions, which reduces the company portfolio's vacancy level and realizes some of its reversionary potential.

Warehouse REIT noted that the dividend figure for the 2018/19 is only a target and not a forecast.