Edison Investment Research Limited published a new report on Custodian Property Income REIT (LSE: CREI) on 10 November 2026, drawing investor attention to key portfolio and financial metrics disclosed in the update. The report, available free of charge via Edison's website, covers performance data relevant to CREI's investment portfolio and underlying holdings. Edison, which is authorised and regulated by the Financial Conduct Authority, stated that its reports do not constitute investment advice or solicitations to buy or sell securities. Investors in the UK property income sector may be watching the report's findings closely given the current environment for real estate investment trusts.

Key Points

  • Custodian Property Income REIT plc (LSE: CREI) — subject of a newly published Edison Investment Research report
  • Edison published its research report on 10 November 2026, covering performance metrics and portfolio data relating to CREI
  • The report references a 2.0% NAV total return in Q3 2026, with NAV per share reaching 539.1p, and a year-to-date NAV total return decline of 3.1%
  • Investors may wish to review Edison's full report, available free of charge at edisongroup.com, for further analytical detail

Edison Report Highlights 2.0% NAV Total Return for Q3 2026 and 539.1p NAV Per Share

According to the Edison report, the entity covered recorded a 2.0% NAV total return in Q3 2026, following a 0.5% increase in Q2 2026. This brought NAV per share to 539.1p, continuing a recovery from the Q1 2026 low. The year-to-date NAV total return nonetheless remained in negative territory at minus 3.1%. The report notes that gross portfolio value grew by 5% during Q3 2026 and by 15% year to date, with this growth more than offsetting a negative 2% impact from lower comparable valuation multiples in the period.

Revenue and EBITDA Growth of 15% and 19% Year-on-Year Cited in Edison's Analysis

The Edison report states that last-12-month revenue and EBITDA grew by 15% and 19% year-on-year respectively, of which 11% and 17% was described as organic growth. The EBITDA margin stood at 35% as reported, compared with 34% at end-June 2026, indicating a modest improvement in operational efficiency over the period. These figures are drawn directly from the Edison research note and have not been independently verified by this publication. Edison is authorised and regulated by the Financial Conduct Authority and publishes its reports for informational purposes only.

Weighted Average EV/EBITDA Multiple Falls to 22.6x Amid Software Valuation Pressures

Despite a selective recovery in listed software valuations during Q3 2026, the Edison report notes that application and vertical software stocks lagged broader market performance, contributing to a further decline in the weighted average EV/EBITDA multiple to 22.6x, down from 25.2x at end-2025. Average net debt to EBITDA improved to 6.7x from 7.4x at end-2025, which the report's data suggests reflects some deleveraging progress. These valuation and leverage trends represent sector-specific dynamics that investors in property income and software-exposed vehicles may consider when assessing CREI's portfolio outlook.