FS Credit REIT Reports Slight increase in Estimated NAV; Expects to Increase Distributions

FS Credit Real Estate Income Trust Inc., a monthly net asset value REIT sponsored by FS Investments, has declared a monthly estimated net asset value per share as of Jan. 31, 2023.

Citing strong portfolio performance and the “positive impact of rising interest rates on its loan portfolio,” the company noted that its adviser has recommended to its board of directors that the annualized investor distribution rate across all share classes be increased by 25 basis points effective with the payment of the March distribution.

As a result, it is expected that the annualized distribution rate will be approximately 7.35% for Class I shares, 6.85% for Class D shares, 6.85% for Class M shares, 6.25% for Class S shares and 6.30% for Class T shares based on the anticipated March 2023 distribution and the Feb. 1, 2023 transaction price.

Class S shares had an NAV per share of $25.09 as of Jan. 31, 2023, compared to $25.07 per share the previous month.

Class T shares had an NAV per share of $24.85, compared to $24.83 per share the previous month.

Class D shares had an NAV per share of $24.89, compared to $24.87 per share the previous month.

Class M shares had an NAV per share of $24.96, compared to $24.94 per share the previous month.

Class I shares had an NAV per share of $24.30, compared to $24.28 per share the previous month.

Class F shares had an NAV per share of $25.01, compared to $24.97 per share the previous month.

Class Y shares had an NAV per share of $24.25, compared to $24.23 per share the previous month.

[Editor’s note: Dollar amounts have been rounded to the nearest cent.]

Class S shares are available through brokerage and transactional-based accounts, while Class D, Class M and Class I shares are generally available through fee-based programs. Class I shares are available for purchase by endowments, foundations, pension funds and other institutional investors. Class F and Class Y shares were offered via private offerings and are only available in the public offering through the distribution reinvestment plan.

The number of shares outstanding totaled 101.6 million as of Jan. 31, 2023, compared to 97.7 million the previous month. The company’s total net asset value equaled approximately $2.5 billion at month’s end.

FS Credit REIT invests primarily in floating rate senior loans secured by commercial real estate properties. The REIT is currently offering up to $2.75 billion in shares of common stock on a continuous basis and has received gross offering proceeds of approximately $281.1 million as of Jan. 31, 2022.

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