||EPS - Basic
||Market Cap (m)
|Real Estate Investment Trusts
|Custodian REIT Daily Update: Custodian REIT is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker CREI. The last closing price for Custodian REIT was 112.75p.|
Custodian REIT has a 4 week average price of 110.25p and a 12 week average price of 108p.
The 1 year high share price is 114.25p while the 1 year low share price is currently 99p.
There are currently 343,913,345 shares in issue and the average daily traded volume is 577,325 shares. The market capitalisation of Custodian REIT is £385,182,946.40.
|speedsgh: Contained within the recent rns on 19/4...
Unaudited Net Asset Value as at 31 March 2016 and Intention to Issue Equity - HTTP://uk.advfn.com/stock-market/london/custodian-reit-CREI/share-news/Custodian-REIT-PLC-NAV-and-Intention-to-Issue-Equi/71163632
NAV per share of 101.5p as at 31 March 2016 (31 December 2015: 103.0p)
...Intention to issue equity at 104.9p per share implying a target yield(6) on new shares of 6.05% for the year ending 31 March 2017.
...In the absence of unforeseen circumstances, the Board intends to pay further quarterly dividends to achieve a target dividend of 6.35 pence per share for the financial year ending 31 March 2017.
...On 1 April 2016 the headline rate of SDLT for commercial property increased from 4% to 5%, with relief for smaller properties via a new SDLT-free band up to GBP0.15 million and a 2% band from GBP0.15 million to GBP0.25 million, replacing the previous flat rate. As a result, the increase in headline rate only impacts transactions above GBP1.05 million and then on a sliding scale as lot-size increases.
The Company's focus on properties with lot-sizes up to GBP7.5 million has partially insulated it against the one-off impact these changes have had on valuations, with its average lot size of GBP2.9 million seeing a valuation decrease of 0.25%. To put this into context, the costs of acquiring a GBP3 million property have increased by 0.61% and a GBP10 million property by 0.85%, and valuations are expected to adjust accordingly across the property market this quarter...
Reasons for the Placing and use of proceeds
Completion of the committed acquisition pipeline will increase loan-to-value to 20.6%, compared to target gearing of 25.0% loan-to-value, leaving limited headroom for further investment. The net proceeds of the Placing are expected to be used first to repay an element of the GBP26 million currently drawn under the Company's revolving credit facility ("RCF") at 31 March 2016. The remaining net proceeds are then expected to be used to acquire additional UK commercial real estate that can further diversify the portfolio and enhance income yield, such that the Placing is in Shareholders' interests. Net proceeds are expected to be fully invested within three to six months after admission of the New Shares, depending on the amount of net proceeds of the Placing.|
|wirralowl: Yeah, thanks, Nielyb. I'm hoping the increased rent roll will indeed mean progressive increases to the dividend over the long term. NAV growth should also drive the share price, as CREI have a good geograhical spread and some of the provinces have yet to catch up with the SE.|
Custodian REIT share price data is direct from the London Stock Exchange