Newriver Reit Share Discussion Threads

[the monkster] 28/8/2014 08:53

not been a distribution since march 28 - any idea when the next one
is - we got one in july last year.

[trustman] 15/8/2014 10:35

Yet another placing below NAV?

[deadly] 11/8/2014 12:00

Don't see why that news spooked the market?

[the monkster] 29/7/2014 15:46

when is the next div due ?? we got one on 25th july last year.

[scottishfield] 15/7/2014 09:01

normal service has been resumed apparently :)

[jashunter] 14/7/2014 20:20

It was a UT - an Uncrossing Trade - so not a "real" transaction. No worries.

[deadend] 14/7/2014 16:57

A late 1k sale that's all

[deadend] 14/7/2014 16:45

Low volume,not to worry.imo

[scottishfield] 14/7/2014 16:42

V strange finish - £2.81 ?

[deadly] 04/7/2014 14:27

Skinny - try harder not to be a pain by posting redundant info that's available in the header.

[orchestralis] 02/7/2014 08:00

Quarterly divi to commence in oct

[skinny] 02/7/2014 07:06

At today's Annual General Meeting of NewRiver Retail (AIM: NRR), Chairman Paul Roy will make the following statement:

"NewRiver Retail has continued its progress as a specialist REIT focused on the UK retail market and in less than five years has become the leading value-creating retail property investment platform in the sector. The Company is now the UK's third largest shopping centre/manager by number and grew assets under management by 50% during the financial year to £600 million. The portfolio comprises 24 UK-wide shopping centres, 18 high street units, one supermarket and a portfolio of 202 pubs for retail conversion. At the year end, the portfolio totalled 4.6 million sq ft, hosting 1,118 tenancies, an occupancy rate of 95% and enjoyed a total footfall of more than 100 million.

As announced at the Company's full year results on 15 May 2014, NewRiver Retail delivered an impressive fourth consecutive year of profit growth with EPRA adjusted profit increasing by over 80% to £9.5 million. Importantly, the full dividend for the year was 98% covered and maintained at 16 pence per share on a share capital base that was significantly enlarged following the successful issue of new equity in two separate fund raisings which were very well supported by both new and existing shareholders. The Company is pleased that in line with its intention to maintain a progressive dividend policy, it will commence a quarterly dividend policy with the first quarterly payment expected in October 2014.

NewRiver Retail's key objective is to strengthen its position as the UK's leading value-creating property company whilst continuing to deliver strong returns for our shareholders. Management delivered the first element of this strategic objective through acquisitions, active asset management and risk-controlled development programme. The second element was achieved and demonstrated with the Company producing a Total Shareholder Return for the year of 55% compared to 27% for the FTSE 350 Real Estate Index.

We were delighted to deliver EPRA NAV of 240 pence which would have been 261 pence excluding payment of the special interim dividend of 10 pence on 28 March 2014 and exceptional costs of 11 pence related to the fund raisings.

In the period two fundraisings totalling £152 million of new equity capital through the issue of 65 million new ordinary shares were completed, strengthening our financial position and allowing us to move quickly on acquisition opportunities. As a result, NewRiver Retail completed acquisitions worth £200 million, including JVs, with an average initial yield of 11%. The Company also delivered on its proven business strategy successfully re-cycling capital via disposals of two properties for £9 million. Our BRAVO joint venture grew substantially during the year to over £350 million.

A distinctive highlight of the year was the purchase of 202 public houses from Marston's plc in November 2013, through which the team saw an opportunity to offer well-located convenience store space to major food store operators. Subsequently, the Company announced that The Co-operative Group had signed a conditional agreement for lease on 54 of these properties. The Board is confident that further similar agreements will be completed in due course, and that this portfolio acquisition will achieve its highly profitable potential.

Our active asset management programme has continued with great success delivering a total of 141 leasing events, 99 of which were new lettings and lease renewals at an average of 1.7% above ERV. The portfolio continues to attract high quality national retailers and our strategy to enhance the food, beverage and leisure positioning of our assets is progressing well.

We are committed to driving forward our portfolio-wide risk controlled development programme and successfully completed three significant projects during the period, extending to over 142,500 sq ft.

The Company took steps to strengthen its capital structure reducing its net LTV to 25% while maintaining a low cost of debt at 3.9%. Our financing strategy was further enhanced during the year by re-negotiating terms on bank debt facilities which now carry an average maturity of 4.5 years.

We have developed a profitable growth platform with a strong management team focused on driving income returns and delivering long-term shareholder value. The wider economic recovery continues to support our business model and enhance the NewRiver Retail investment proposition. The Company is well-positioned and well-capitalised to take advantage of market opportunities and continue its growth."

NewRiver Retail has today also announced its quarterly portfolio update detailing all recent transactions and asset management initiatives for the first quarter ending 30 June 2014.

-Ends-

[speedsgh] 12/6/2014 10:07

NRR have bought them from SLI.

Sale of Assets by SLIPIT -

[shauney2] 12/6/2014 08:25

Good to see them diversify.

NewRiver Retail, the specialist UK retail property investor, firmed 2.5p to 317.5p following its acquisition of four retail park properties for £17.3million at an attractive 9.12 per cent net initial yield. Broker Liberum Capital says it is a logical move into retail parks but a slight departure for the company from the shopping centre, high street and foodstore exposure in its existing core portfolio.

[robow] 06/6/2014 15:13

NRR gets a good write up in this week's Moneyweek in an article from a professional investor saying where he'd put his money now.

[gostevie63] 15/5/2014 14:32

One thing that puzzles me is that in Note 11 to the Financial Statements...



...it says:

The dividends have been paid entirely as a PID (Property Income Distribution). PID dividends are paid, as required by REIT legislation, after deduction of withholding tax at the basic rate of income tax (currently 21%).

My understanding was that the PID withholding tax rate was 20%, and a quick Google doesn't lead me to believe any different. Does anybody have any idea where the 21% quoted above comes from please?

(I have emailed to company to ask them the same question but they are probably busy on results day.)

Gostevie

[scottishfield] 15/5/2014 08:47

indeed, v good gorilla

[gorilla36] 15/5/2014 08:36

Cracking results here.

[tom111] 12/5/2014 18:29

There will be no final divi according to the update next divi oct 2014 thereon paid quarterly correct me if im wrong

[gostevie63] 12/5/2014 15:05

Hi Orchestralis,

Looking forward to another 10p final divi.

You should have had it by now (-20% tax) as it was paid on 28th March.

Gostevie

[orchestralis] 12/5/2014 13:38

Looking forward to another 10p final divi.

[jaws6] 01/5/2014 15:10

Joan
Thank you for dates info .

[joan of arc] 01/5/2014 14:55

31/1/14 - divi 4.8p paid. 17/4/14 - Tax reclaim 1.2p paid.

28/3/14 - divi 8p paid. Outstanding 2p.