Newriver Reit Share Discussion Threads

[bscuit] 03/8/2015 01:27

But surprisingly "a source close to NRR said it was likely to keep some running as Pubs" which will be a departure from retail conversion and not something shown as a use for premises on its own website. These pubs are non-food operations. Curious.

[p_buz] 02/8/2015 00:41

Small mention in the Sunday Times about NRR possibly spending £50 million on 150 of Punch Taverns worst performing pubs, looking to turn them into stores. Not sure if the recent fund raise had enough cash left over for this deal after buying out the 2 JVs. New funds needed?

[belt n braces] 22/6/2015 10:04

Red

Speaking as a qualified accountant I think our profession can (I did say no guarantees).

Brian Souter, Barry Hearn, etc and legal guys are often close to success as well, eg Max Mosley along with Bernie Ecklestone.

[redartbmud] 22/6/2015 09:56

Belt
Speaking as a qualified accountant, our profession does not make the best CEO.

[belt n braces] 22/6/2015 09:54

Purchased some of these today. Reasons:

(1) CEO is solicitor and qualified accountant, although there is no guarantee to success, having such qualifications should mean the CEO understands the need to work in the interests of shareholders. In my view this is different from some other professions who may work towards an engineering goal (for example) which would not necessary always fall in line with profitability, debt reduction, etc.
(2) The placing was at a very fair price in relation to the share price, and unlike some placings for other smaller companies did not present the placing people with an instant massive profit.
(3) The share has good volume and liquidity.


Onwards and upwards!!

[randomambler] 21/6/2015 22:17

I don't understand the previous comment at all. This particular placing is positive for existing shareholders for at least two reasons:

1) The new shares are being placed at a decent premium to the NAV - which will have the effect of hoisting the post-placing NAV higher still.

2) The equity base will be substantially enlarged by this placing and so the gearing level will naturally decrease sharply (as debt stays the same).

Beyond these points there's always the chance that the board might deploy these funds sensibly - as they have in the past. So I don't know why you see it as a negative?

[joan of arc] 21/6/2015 18:29

Well, such a placing will do nothing for existing shareholders as it won't help the gearing. It is just for the benefit of the BOD and their remuneration schemes. I shall reduce my holding.

[shanklin] 19/6/2015 16:29

Given placing participants don't get the 4.5p dividend, its been possible to buy at less than a 1% premium for most of the afternoon.

[deadly] 29/5/2015 20:15

Broken out to new highs.
Property is likely to be a growth market this year at least.

[deadly] 14/5/2015 10:14

Results look rather good to me; the divi alone is worth holding or buying for:

· EPRA adjusted earnings per share of 19.8 pence (2014: 15.7 pence)

· Total Shareholder Return of 16% (2014: 55%)

· Dividends increased by 6.25% to 17 pence fully covered (2014: 16 pence).

· EPRA NAV of 265 pence increased by 10.5% (2014: 240 pence)

· Basic EPS of 37.5 pence (2014: 38.0 pence)

[gorilla36] 14/5/2015 08:13

Steady if unspectacular results?

[redartbmud] 21/4/2015 11:47

deadly

You would have thought so, but does the city buy into the Marstons pubs conversion story, and are the retail properties that they are churning making a big enough difference to the quality of the estate?

Maybe the jury is out for now - better quality elsewhere syndrome.

I am in and holding at a small premium to current Sp.

red

[deadly] 21/4/2015 11:43

finally beginning to move out of the doldrums.
Hope it can sustain it this time

[jeff h] 14/4/2015 15:16

Sorry should have said it was all a PID.

[markyp23] 14/4/2015 14:30

Ah!

Confusing to pay two dividends on one day! Thanks for clearing that up!

If it's not a PID, then why is it not taxed as a normal dividend? i.e. paid at 4.25p/share net of dividend tax credit?

[jeff h] 10/4/2015 16:38

marky - the 3rd Qtr Div of 4.25p had no PID element and thus what has been received is 4.25p less 20% = 0.85p = 3.40p

[markyp23] 10/4/2015 16:32

I hold NRR in an account with TDW

I got three separate payments:
30/1/15 - 3.25p/share
30/1/15 - 1p/share
2/2/15 - 3.4p/share

I was expecting the first two PID and non-PID elements of the dividend but the 3.4p they are describing as a special dividend...I can't see any information about this on NRR announcements? Am I missing something?

Cheers

[randomambler] 01/2/2015 18:54

Thanks very much for your comments skyship; it certainly took me a lot of effort to get my head around the property investing sector and REITs in specific! I wasn't aware of the CP+ thread until now so I've got some catching up to do (and I'm grateful for the cross-post too).

As you know I've come to much the same conclusion as you with regards to NRR. I've been invested since not long after they floated, and it's been a bit of a ride, but they do have a few headwinds to negotiate before the shares can fly again. That said I do like the management team and their strategy.

I must admit that I have more exposure than I intended to the property sector in general (what with NRR, SGRO, BDEV, BKG, BLND, GRI and LMP)! For sure they're not all playing in the same field but I rather hope interest rates don't start rising any time soon. Also you can see that I like to achieve a decent yield...

[skyship] 01/2/2015 15:39

Damian. Thanks for sharing a truly excellent piece of Research. I hope you don't mind but I've copied the Link across to the CP+ thread on ADVFN.



As you may have read from my occasional posts back on this thread, IMO the stock has been fully valued for quite some time. The Market obviously agrees as after the good rise in early 2013, the share price has been tracking sideways for the past 15months whilst the commercial property sector has been marching from strength to strength.

Some of the blue chip REITS now look rather dear with their over-extended NAV premiums; but there is still value to be found amongst the secondaries with their regional portfolios still offering high yields in a low-interest environment. I would expect continued yield compression for at least another two years.

I still love the sector; and recognise my big mistake over the past couple of years was not recognising the possibility of a 10% discount moving to a 15%+ premium - such as PCTN & SREI.

Still, I am wedded to discounts, so am happy to stay with, at the moment, DSC, LSR & LXB.

Hopefully the first of those might tempt you to provide us with another piece of propco Research...

[randomambler] 01/2/2015 09:19

There's some very interesting comments on NewRiver here. It's always useful to hear the bear argument as it's easy to get carried away!

Anyway I've spent a bit of time going through the short-ish history of NewRiver and have posted my thoughts here (lots of charts):



Hope some of this proves useful/interesting!

Damian

[marben100] 19/1/2015 15:14

Just wanted to let others here know that I have organised ShareSoc's Investor Masterclass for 25th February, at which New River Retail will feature.

We'll have a panel of leading investors discussing two investment topics and analysing two companies. The panel comprises:

- Smallcap value blogger, Paul Scott (no relation to our recently appointed director!)
- Well known investor, David Stredder
- The FT's John Lee
- Stockopedia CEO and former asset manager, Ed Croft.

The panel will discuss the following topics, engaging with the audience:

- How I research companies
- Analysing company balance sheets

We'll go on to discuss the investment cases for two sample companies, in this case:

- Renew Holdings
- New River Retail REIT

The evening is rounded off with drinks and a quality buffet, providing an opportunity to socialise with the panel and fellow investors.

Anyone booking by 22nd January will receive a special offer on their ticket purchase: ShareSoc Full Members can obtain a £10 "earlybird" discount off the Full Member price; others will be granted 6 months complimentary ShareSoc full membership (worth £19) with a standard ticket purchased by that date.

This event is proving popular, with over half the available tickets having been sold already, so early booking is recommended to avoid disappointment!

You can find full details, including ticket purchase information here:

Hope to see you there!

Cheers,

Mark
Twitter @marben100

[jeffcranbounre] 12/1/2015 15:17

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[davidosh] 04/1/2015 20:03

New River Retail will be one of the two companies under focus at this new event...

[jeff h] 22/12/2014 11:29

No, 2 divs of 4.25p to be paid see below from "proposed placing and acquisition". The 1p refers to the PID element/part of the 4.25p dividend.

With effect from the financial year commencing 1 April 2014 the Company commenced the payment of quarterly dividends. Prior to today's announcement, two quarterly dividends of 4.25 pence per Ordinary Share have been announced. The first quarterly dividend was paid by the Company on 31 October 2014 whilst the second quarterly dividend is payable on 30 January 2015 to Shareholders on the register on 30 December 2014.
NewRiver is today announcing a third quarterly dividend for the current year of a further 4.25 pence per Ordinary Share, payable on 30 January 2015 to shareholders on the register on 5 January 2015. Ordinary Shares will be marked ex-dividend in respect of the third quarterly dividend on 2 January 2015.
The Placing Shares will not be entitled to receive the second or the third quarterly dividends but will rank pari passu in all other respects with the Ordinary Shares currently in issue and will have the right to receive all dividends and distributions declared in respect of the issued Ordinary Share capital of the Company after Admission.

[billy5] 22/12/2014 11:02

shauney2

Thank you for that.

Seemed a bit too good to be true!