Share Name Share Symbol Market Type Share ISIN Share Description
Aberdeen Standard European Logistics Income Plc LSE:ASLI London Ordinary Share GB00BD9PXH49 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  1.50 1.31% 116.00 729,623 13:05:48
Bid Price Offer Price High Price Low Price Open Price
115.00 116.00 117.00 114.00 114.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 20.85 10.75 4.41 27.4 305
Last Trade Time Trade Type Trade Size Trade Price Currency
13:05:48 AT 517 116.00 GBX

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02/12/202108:26Aberdeen Standard European Logistics Income plc164
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Aberdeen Standard Europe... Daily Update: Aberdeen Standard European Logistics Income Plc is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker ASLI. The last closing price for Aberdeen Standard Europe... was 114.50p.
Aberdeen Standard European Logistics Income Plc has a 4 week average price of 112.50p and a 12 week average price of 108p.
The 1 year high share price is 130p while the 1 year low share price is currently 104p.
There are currently 262,950,001 shares in issue and the average daily traded volume is 727,592 shares. The market capitalisation of Aberdeen Standard European Logistics Income Plc is £302,392,501.15.
cwa1: The Directors have today declared a third interim distribution of 1.41 euro cents (equivalent to 1.21 pence) per Ordinary share, in respect of the year ending 31 December 2021. This third interim dividend will be paid in sterling on 30 December 2021 to Ordinary shareholders on the register on 3 December 2021 (ex-dividend date of 2 December 2021). The Company intends to declare quarterly interim distributions to Shareholders in respect of the quarters ending on the following dates: 31 March, 30 June, 30 September and 31 December in each year. Any such distribution payment to Shareholders may take the form of either dividend income or "qualifying interest income" which may be designated as an interest distribution for UK tax purposes and therefore subject to the interest streaming regime applicable to investments trusts. Of this third interim distribution declared of 1.21 pence per Ordinary share, 0.97 pence (equivalent to 1.13 euro cents) is declared as dividend income with 0.24 pence (equivalent to 0.28 euro cents) treated as qualifying interest income.
speedsgh: NAV increased by 2.5% to 126.7c (GBP 109.0p). "The Investment Manager is undertaking due diligence on a significant portfolio in one of its key geographies, which is under exclusivity and would see the majority of available equity deployed." Unaudited Net Asset Value as at 30 September 2021 - HTTPS://www.londonstockexchange.com/news-article/ASLI/unaudited-net-asset-value-as-at-30-september-2021/15218255
cwa1: Interims(my bold)... https://www.investegate.co.uk/aberdeen-stand.euro.--asli-/rns/half-year-results/202109300700124633N/ Highlights... Focus on high quality and structurally supported Continental Europe mid box and urban warehouse assets delivers another period of strong NAV and earnings growth Aberdeen Standard European Logistics Income PLC, the Continental European investor in modern warehouses, which is managed by abrdn, today announces its interim results for the six months to 30 June 2021. Continued NAV and earnings growth: - Net asset value per ordinary share increased by 3.3% to €1.24 (31 December 2020: €1.20) - Share price total return of 12.0% - NAV total return (in Euro terms) of 5.2% for the period and 14.7% for the 12 months to 30 June 2021, primarily driven by ongoing favourable yield movement - Loan to Value of 31.7% (all in cost of debt 1.36%, average term to maturity 5.5 years) - Declared dividends of 2.82 Euro cents (equivalent to 2.42 pence) per share in respect of the period, in line with the target for the financial year - Reflecting the Company's growth ambitions, a £19.4 million oversubscribed equity issuance completed in March 2021, and as announced on 29 September 2021, a post-period end oversubscribed £125 million equity issuance, with strong pipeline of acquisitions identified Acquisitions and focus on asset and counterparty quality take gross assets to over €500 million: - Strong rent collection with 99% of rent due for the period collected - Portfolio valued at €492 million, reflecting yield compression and new acquisitions; on a like for like basis, the portfolio value increased by 3.4% over 31 December 2020 - Two acquisitions, totalling €46.8 million, taking the total portfolio to 16 modern properties, diversified by geography and tenant: · A 34,000 sqm warehouse in Lodz, Poland, for €28 million, reflecting a net initial yield of 5.5% · Post-period end, the €18.8 million acquisition of a modern urban logistics warehouse in Barcelona, Spain, reflecting a net reversionary yield of 4.7% - Weighted average unexpired lease term ("WAULT") of 7.4 years Further progress delivering on ambitious sustainability targets: - Long-term solar panel leases at the Company's Ede and Den Hoorn assets have delivered a capital uplift of approximately €1 million - Four out of a maximum of five Green Stars with a GRESB score of 79/100, which compares favourably with the 68/100 average score for the Western Europe Industrial Distribution Warehouse peer group Tony Roper, Chairman, Aberdeen Standard European Income Logistics, commented: "To date we have built a diversified portfolio of 16 modern, high quality logistics warehouses with long term, inflation linked income characteristics. Our ambition is to increase the size of Company, while replicating the outperformance delivered by the Manager to date. With the support of both the new and existing shareholders who participated in the successful equity raise and a sizeable pipeline of acquisition opportunities, we are well placed to achieve this ambition and can look forward to the further scale and diversification benefits which additional investment will afford." Evert Castelein, Lead Fund Manager, Aberdeen Standard European Income Logistics, added: "The structural changes underpinning the continued growth of the European logistics sector show little sign of abating. Supply chains are being optimised with the demand for logistics boosted by the rise of e-commerce as more people across Europe have adapted to buying online. Alongside this, we are increasingly seeing the growing trend of near-shoring overseas manufacturing closer to home and higher inventory levels, in order to reduce operational risks. The result is a significant demand supply imbalance of modern Grade-A stock, in strong locations, meaning that vacancy rates are at historically low levels. "The Company's forensic approach to asset selection and strict investment criteria has resulted in another period of strong financial performance. By focusing on property fundamentals and counterparty quality, we feel well placed to capture both rental and capital growth, with the necessary downside protection. Despite the weight of global capital seeking to access the sector, the opportunity in the mid box and urban logistics space for experienced managers with deep local market expertise remains sizeable, underpinning our strong conviction in the Company's prospects."
alan pt: Personally I hope ASLI & EBOX don't merge, I think they are large enough and sufficiently differentiated to stand alone ASLI is mid size & last mile assets, more focus on buying at the right price and yield. EBOX is top size assets, more focus on growing the size of the fund fast and relying on asset capital growth for returns Different approaches and ASLI is much more to my taste. I held but exited almost a year ago to move into REITs with better discounts, but kept an eye on it because I still liked it. Being able to buy back in now at only 2p higher than I sold for seems like a good opportunity Let's see how many I get though, I feel like the demand is likely to go above the max raise level!
speedsgh: ‘Unstoppable’ logistics demand pushes ASLI Reit back to market - HTTPS://citywire.co.uk/investment-trust-insider/news/unstoppable-logistics-demand-pushes-asli-reit-back-to-market/a1553717 "... While the shares have been priced to attract investors, with trust manager Evert Castelein saying this is a step towards becoming a £1bn portfolio..."
speedsgh: From the prospectus... "Subject to the Investment Manager’s pipeline and sufficient investor demand, the Company can increase the size of the Issue to up to £100 million." "As at 7 September 2021 (being the latest practicable date prior to publication of this document), the Company had 262,950,001 Ordinary Shares in issue and no C Shares in issue." Initial issue target of £75m (68.8m shares) would represent an approx 26% increase in the company's issued share capital. If fundraising is increased to £100m (91.7m shares) to satisfy excess demand, that would represent an approx 35% increase in the company's issued share capital.
williamcooper104: Yep it's a general down day - BL/LAND down a fair bit But Segro and WHR down about 1 percent and HWG up a bit, PLD up too So logistics focused REITs aren't down as much as EBOX/ASLI Most other REITs are trading at discounts to NAV so aren't likely to be raising equity anytime soon As EBOX and ASLI are now managed under the same external fund management house (albeit different teams for time being) there's a fair bit of read across between the two
speedsgh: New fundraising announced this morning. Looking to raise £75m at 109p per share (equates to 68.8m new shares). Includes Open Offer entitlement of 1 new share for every 4 existing. 109p = 2.7% premium to 106.1p NAV as at 30/6/21, 8.4% discount to 119p closing price yday evening. Prospectus will also provide for a Share Issuance Programme seeking authority to issue an additional 250m new shares over the next 12 months. Investment manager (IM) currently undertaking due diligence on EUR165m (c.£140m) mid-box/urban logistics warehouses in countries in which ASLI is already invested, but also looking at opportunities in new geographies, including the Nordics. IM is in addition exploring a number of expansion opportunities for portfolio assets on adjoining or adjacent plots, on a pre-let basis. HTTPS://www.investegate.co.uk/aberdeen-stand.euro.--asli-/rns/launch-of-issue/202109080700060438L/
speedsgh: Q2 2021 NAV and Second Interim Dividend - HTTPS://www.investegate.co.uk/aberdeen-stand.euro.--asli-/rns/q2-2021-nav-and-second-interim-dividend/202108190700060902J/ GROSS ASSETS EXCEED €500 MILLION DRIVEN BY PORTFOLIO VALUATION UPLIFT AND NEW ACQUISITION 19 August 2021 - Aberdeen Standard European Logistics Income PLC (LSE: ASLI), the Company which invests in high quality European logistics properties, announces its unaudited quarterly Net Asset Value ("NAV") and dividend for the quarter ended 30 June 2021. Highlights · NAV per Ordinary share increased by 1.6% to 123.6c (GBp - 106.1p 1 ) (31 March 2021: 121.6c (GBp - 103.6p)), reflecting a NAV total return of 14.7% (in Euro terms) for the 12 months to 30 June 2021 · Portfolio valuation increased by 1.9%, or €8.7 million (on a like for like basis and using Lodz purchase price) to €473.9 million, reflecting further modest yield compression, and taking gross assets to over €500 million · 100% of the rent due for the quarter ended 30 June 2021 collected · €18.8 million acquisition of a modern urban logistics warehouse in Polinyà, Barcelona, Spain, completed in July 2021, further enhancing the Company's sustainability credentials and the portfolio's weighting to the high growth urban logistics sector · Portfolio now comprises 16 strategically located, modern and diversified European logistics assets across 5 countries · Long-term solar panel leases at the Company's Ede and Den Hoorn assets have delivered a capital uplift of approximately €1 million · The Company declares a second interim dividend of 1.41 euro cents (equivalent to 1.21 pence) per Ordinary share in respect of its financial year ending 31 December 2021. Acquisition of Sixteenth Asset In July 2021, the Company announced that it had completed on the acquisition of a modern urban logistics warehouse in Barcelona, Spain's second most populous city. The purchase price of €18.8 million reflects a net initial yield of 3.7% and net reversionary yield of 4.75%. This 13,907 square metre asset is located in the first ring of Barcelona, within a 25 minute drive (27km) of the city centre and is well positioned to benefit from the growth of e-commerce and the scarcity of development opportunities, which provides strong rental growth potential. The local market is characterised by a low vacancy rate of 3%, which falls to 1% for the first ring, reflecting naturally occurring land constraints, with the city surrounded by the sea and mountains. The asset is located on the Polinyà Logistic Park, a strategically positioned and highly consolidated industrial area just off the AP-7 motorway that connects Barcelona with France and the wider European market in the north, and to Zaragoza, Madrid and other key cities along the Mediterranean coast of Spain. The freehold asset, which was built in 2019 and meets modern specifications, is fully let to Mediapost, a subsidiary of LA POSTE Group, the French state-owned company, serving as its Spanish headquarters. The property offers a high-grade specification of c.11.5 metres clear height in the warehouse area, high quality office accommodation, 10 loading docks, LED lighting and a small solar PV installation which the Company will seek to enhance, making this a very sustainable investment. Accelerating e-commerce penetration and favourable demand supply dynamics offers rental growth potential at the first mutual break option in 2026 or at lease expiry in 2029, whilst rental income is indexed from 2023 onwards. This was the Company's third investment in Spain and its first in Barcelona, providing further diversification across the portfolio. The acquisition was funded using the Company's credit facility. Declaration of Second Interim Dividend The Directors have today declared a second interim dividend of 1.41 euro cents (equivalent to 1.21 pence) per Ordinary share, in respect of the year ending 31 December 2021 (31 March 2021: 1.41 euro cents). This second interim dividend will be paid in sterling on 24 September 2021 to Ordinary shareholders on the register on 3 September 2021 (ex-dividend date of 2 September 2021)... ... Of this second interim distribution of 1.21 pence per Ordinary share, 0.95 pence is declared as dividend income with 0.26 pence treated as qualifying interest income. Performance As at 30 June 2021, the Company's share price stood at 119.0p. For the 12 month period to 30 June 2021, the share price total return (with dividends reinvested) was 18.5% with the Company's net asset value total return over the same period 14.7% in Euro terms (8.3% in sterling terms). Despite the short term impact of a reduction in the value of the Meung-sur-Loire asset of €6.5 million due to the expected temporary vacancy, the overall unaudited portfolio valuation increased by a net €8.7 million or 1.9% (like for like and using the Lodz purchase price). Excluding the Meung-sur-Loire asset, this represents a strong portfolio valuation increase of 3.5%. Yield compression and considerable demand for logistics warehousing continues to drive valuations...
speedsgh: Goal! How a European Reit scored a deal at Real Madrid - HTTPS://citywire.co.uk/investment-trust-insider/news/goal-how-a-european-reit-scored-a-deal-at-real-madrid/a1503823 As a wall of money continues to flood into warehouse assets, Aberdeen Standard Investments’ (ASI) Evert Castelein is dodging low yields by ‘creating deals out of nothing’ and in the most unlikely places, including a Real Madrid football match. ‘It’s a bit of cliché, but property business is a local business,’ said the manager of the £301m Aberdeen Standard European Logistics (ASLI) trust. ‘If you do not speak the language and you don’t work [in the area you want to buy], then it is difficult to source the assets.’ ASI has offices dotted across Europe, with Castelein based in the Netherlands, and he believes this is key to sourcing off-market property at good prices. He said one Madrid-based member of the team sealed a deal after chatting to another football fan in the business lounge at the Real Madrid stadium Bernabeu (pictured) after a match enabling the team to do ‘an off-market deal’. ‘We can create deals out of nothing,’ said Castelein, adding that as demand logistics and warehousing has boomed during the Covid-19 pandemic, there are now ‘desperate fund managers who will pay anything’ to get these assets into their portfolios. However, Castelein said he will not lose sight of the fact that investors are looking for income and is avoiding the high-cost, low-yield properties that are currently on the market. ‘The yield obviously depends on the locations. In core locations, with brand new buildings, with long leases, and strong covenants, then the market is all over it and prices are at record levels – we are not buying those,’ he said. ‘For those, you are looking at a yield of 3.5% and we have heard rumours of assets that are closer to 3% and that is a record. We are definitely not buying those. We have a focus on a yield of 4.5%.’ While rising prices have pushed Castelein and his team to look harder for deals, it has helped the trust’s net asset value (NAV) rise 13.6% in euros in 2020 (or 20% converted into sterling). A huge 6% uplift in the final three months of the year reflected the price rises and yield compression as investors flooded the sector. With dividends included, the shares delivered a 26.6% total return, and now stand on 9% premium over NAV and a 3.3% dividend yield. ‘Logistics is a sector really benefiting from strong tailwinds and it feels like an open door at the moment,’ said Castelein. While lockdown benefited logistics across the board thanks to the boom in e-commerce, ASLI’s assets have done particularly well as it has a tenant overweight to the food sector which meant it collected 97% of rent during 2020. This allowed the trust to pay out 2020 dividends of 4.96p, in line with its target but only 88% covered by earnings per share. With logistics vacancies across the sector at a ‘fractional’ 4% and demand still high, Castelein said ‘the only way the price is going is up’. He is favouring ‘mid-sized big box’ and ‘last mile’ warehousing that will be used not only as distribution centres for e-commerce but also for ‘onshoring and building up inventory levels’. There has been a shift of manufacturing back from Asia to Europe due to a number of reasons. ‘One of the reasons for that is salaries in China have increased and the wage arbitrage [with Europe] is less profound now,’ said Castelein. He also said companies were more concerned about ‘long distance supply chains’ that were put into stark relief during the outbreak and also by the problems caused by ship blocking the Suez Canal earlier this year. ‘It makes sense for companies to look at their global footprint to they are not as susceptible to external shocks,’ he said. The major uncertainty is Office Dépot, the Reit’s seventh largest tenant and sole occupier of its Meung-sur-Loire property generating 6.4% of annual contracted rent, which fell into administration in February. The administrator has indicated that while a sale is underway rental payments should continue to be made. With demand high, Castelein is confident ASLI can still find opportunities and reach its target of £1bn. The trust currently has €65m in cash and undrawn facilities after it signed a new €40m credit facility with Investec Bank. ‘There is lots of research that says you reach optimal diversification when you have more than 20 assets,’ he said.
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