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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Summit Germany | SMTG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.185 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.185 | 1.185 |
| Top Posts |
|---|
Posted at 28/1/2019 11:48 by jeff h Stonking increase in the 2018 NAV per todays update:-It will be interesting to see how much Summit receive when disposing of some of its Luxco subsidiary shares in its forthcoming intended IPO. |
Posted at 27/3/2018 10:27 by jeff h Great stuff NAV up over 20%:-...had some more. |
Posted at 30/3/2015 10:59 by davebowler Liberum;Summit Germany (BUY, TP €0.95) Financing on more favourable terms Event Summit Germany has completed the financing of an existing 9-asset portfolio with a 7-year, €33m debt facility. An interest rate of 2.1% had previously been announced to the market on 19 January as part of a binding term sheet, but the final rate agreed is 14bps lower, at 1.96%. The €50m shareholder loan which attracted an interest rate of 9.5% has now been fully repaid, saving interest costs of €4.75m per annum. Summit Germany has c.€90m of free cash available for acquisitions, with detail on deal negotiations expected in the coming weeks. Liberum view Today's announcement is the second time since Dec-14 that SMTG has secured financing on more favourable terms that previously agreed in principle. Last time, the company originally announced a rate of 3.4% on its main facility, with a final rate of 3.14% agreed, 26bps lower. Although today's interest saving only represents c.€50k per annum, it reinforces the strength of the company's banking relationships and negotiation powers, with the interest saving flowing straight through to net income. Our recently published note last month highlights the fact that we believe the ability for SMTG to continue to grow its distribution level is currently underappreciated by the market. We forecast up to 25% dividend growth next year, from 4.8 cents at present to 6.0 cents, representing a FY16 dividend yield of 6.9%. Recent share price performance has been very strong, delivering a shareholder total return of 28% YTD. However, SMTG still trades on a 12.5% discount to our FY16E NAV of €1.00, and our price target offers a 14% total shareholder return. This combined with the expectation of forthcoming announcements of significantly income acquisitions over the coming few weeks, we reiterate BUY. |
Posted at 30/5/2014 10:22 by trustman Interesting to see if this time they keep paying the dividend and dont carry too many borrowings. |
Posted at 26/5/2014 08:09 by irenekent Don't believe ADVFN Financials on the dividend. Summit pay quarterly in EURO not $US. Other currencies have cents apart from the US dollar. |
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