StockMarketWire.com - Property investor LXi REIT raised its dividend guidance by 6% to 1.44 pence per share for the quarter ending 31 December 2020, owing to 'robust' rent collection.

The company reported rent collection to date of 97% for the fourth quarter of 2020.

It added that its 41 rent reviews completed between 1 April 2020 and 30 September 2020 showed a weighted average uplift of 2.1% per annum, outperforming both RPI and CPI inflation over the period.

LXi REIT said it expected temporary rent reductions - granted to its tenants due to the impact of Covid-19 - to be at the lower average rate of 2.85% of the total annual contracted rent for the financial years ending 31 March 2021 and 2022.

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