Real Estate Credit Investments reports annual profit uplift and 10.4% dividend (LON:RECI)

Real Estate Credit Investments Limited (LON:RECI) has announced its Annual Report and Audited Financial Statements for the year ended 31 March 2024.

Outline of the Annual Report

1. Overview and Highlights

• Introduction: Overview of Real Estate Credit Investments Limited (RECI) and its market positioning as a specialist investor in UK and Western European real estate markets.
• Key Figures: Net assets, NAV per share, total assets, net profit, and share price performance as of 31 March 2024.
• Dividend Stability: RECI’s consistent quarterly dividends and its stable income amidst changing interest rate environments.

2. At a Glance

• Investment Strategy: Details about RECI’s approach to investing in real estate debt secured by commercial or residential properties in Western Europe.
• Portfolio Composition: Breakdown of the investment portfolio, including the number of positions, types of assets, geographic distribution, and yield metrics.

3. Chairman’s Statement

• Performance Overview: Commentary on the company’s performance, market conditions, and strategic decisions.
• Future Outlook: Insights on expected market conditions, potential interest rate changes, and the company’s preparedness for future opportunities.

4. KPIs and Financial Highlights

• Key Performance Indicators (KPIs): Detailed financial metrics including NAV per share, share price, discount, leverage, earnings per share, dividends, and total NAV return.
• Financial Performance: Comparative financial performance for the years ending 31 March 2023 and 2024.

5. Business and Strategy Review

• Strategic Framework: Objectives, performance highlights, and strategies to exploit market opportunities and deliver stable dividends.
• Portfolio Management: Overview of investment activities, repayments, dividends paid, and the composition of the investment portfolio.

6. Investment Manager’s Report

• Market Analysis: Macroeconomic backdrop and its implications for real estate assets.
• Investment Strategy: Approach towards senior real estate lending and management of the investment portfolio.
• Performance and Outlook: Insights into the performance of the investment portfolio and future strategy to maintain and enhance returns.

7. Stakeholder Engagement

• Engagement Activities: Overview of how the company engages with its stakeholders, including shareholders, service providers, and the community.
• Diversity and Inclusion: Details on the company’s approach to diversity and inclusion within its governance framework.

8. Sustainability Report

• ESG Integration: Description of how environmental, social, and governance (ESG) considerations are integrated into the company’s investment process.
• Sustainability Initiatives: Examples of sustainable investment projects and their impact.
• Cheyne’s ESG Policies: Details on the investment manager’s ESG policies and partnerships to enhance sustainability.

9. Governance

• Board of Directors: Composition and responsibilities of the board.
• Management Team: Overview of the management team and their roles.
• Corporate Governance: Explanation of the corporate governance framework, including the roles of various committees and their activities.
• Audit and Risk Committee Report: Summary of the audit and risk management processes and key findings.

10. Financial Statements

• Auditor’s Report: Independent auditor’s opinion on the financial statements.
• Comprehensive Financial Statements: Detailed financial statements including income, financial position, changes in equity, and cash flows.
• Notes to the Financial Statements: Explanatory notes providing additional details on the financial statements.

11. Appendices

• AIFM Remuneration Policy: Details on the remuneration policy for the Alternative Investment Fund Manager.
• AIFM Leverage: Information on the leverage employed by the AIFM.
• Glossary: Definitions of key terms and performance measures used in the report.

Real Estate Credit Investments is a specialist investor in the United Kingdom and Western European real estate markets with a focus on fundamental credit and value