Real Estate Credit Investments Limited (LON:RECI), a non-cellular company incorporated in Guernsey, has announced that its Investment Manager’s monthly Fact Sheet as at 31 December 2024 is now available
As at 31 December 2024, the Company was invested in a diversified portfolio of 221 investments with a valuation of £297.6m. The Company’s cash balance was £32.2m and net effective leverage was 15.3%.
RECI’s dividend yield is 9.68% based on a 12p total annual dividend and today’s share price of 124 GBp.
An interim dividend of 3p per share was declared on 28 November 2024, to be paid on 3 January 2025 to Ordinary Shareholders on the register at the close of business on 6 December 2024.
During the month, Real Estate Credit Investments was fully repaid at par its position in a senior development loan secured against a logistics platform in France. RECI received c.£8.6m of gross proceeds and achieved an unlevered gross IRR of 9.5%.
A full attribution of changes in the NAV per share is presented in the table:
| November NAV | 147.1p |
| Interest income | 0.9p |
| Asset valuations | 0.3p |
| FX | 0.1p |
| Expenses | -0.4p |
| Dividend | -3.0p |
| December NAV | 145.0p |
1 Note that two position where RECI had investment in both equity and debt have now been combined for reporting purposes. As a result, the number of positions reported in this period has reduced by 3, with only one position representing a repayment.
