Trading Update

Summary by AI BETAClose X

Irish Residential Properties REIT plc reported strong operational performance for Q1 2026, maintaining over 99% occupancy and rent collection rates, with a Net Rental Income margin of 78%. The company entered a forward purchase agreement for 77 apartments valued at €31.75 million, projected to yield approximately 5.25% and be earnings enhancing. This acquisition, funded by asset recycling which achieves over 25% premiums above book value, is expected to keep Loan-to-Value ratios within the 40%-45% target range, with over 85% of drawn debt fixed. The evolving market, influenced by new rent regulations and government housing plans, has seen increased transaction volumes, creating a constructive backdrop for I-RES's growth strategy.

Disclaimer*

UK 100

Latest directors dealings