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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Assura Plc | AGR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.62 | 1.65% | 38.26 | 16:35:27 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 37.88 | 37.58 | 38.60 | 38.26 | 37.64 |
| Industry Sector |
|---|
| FOOD & DRUG RETAILERS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| Interim | GBP | 0.0084 | 12/12/2024 | 13/12/2024 | 15/01/2025 | |
| 29/08/2024 | Interim | GBP | 0.084 | 05/09/2024 | 06/09/2024 | 09/10/2024 |
| 29/02/2024 | Interim | GBP | 0.0082 | 07/03/2024 | 08/03/2024 | 10/04/2024 |
| Interim | GBP | 0.0082 | 07/12/2023 | 08/12/2023 | 10/01/2024 | |
| Interim | GBP | 0.0082 | 07/09/2023 | 08/09/2023 | 11/10/2023 | |
| Interim | GBP | 0.0078 | 09/03/2023 | 10/03/2023 | 12/04/2023 | |
| 17/12/2021 | Interim | GBP | 0.0078 | 08/12/2022 | 09/12/2022 | 11/01/2023 |
| Interim | GBP | 0.0078 | 08/09/2022 | 09/09/2022 | 12/10/2022 | |
| Interim | GBP | 0.0078 | 09/06/2022 | 10/06/2022 | 13/07/2022 | |
| Interim | GBP | 0.0074 | 10/03/2022 | 11/03/2022 | 13/04/2022 | |
| Interim | GBP | 0.0074 | 09/12/2021 | 10/12/2021 | 12/01/2022 | |
| Interim | GBP | 0.0074 | 09/09/2021 | 10/09/2021 | 13/10/2021 | |
| Interim | GBP | 0.0074 | 10/06/2021 | 11/06/2021 | 14/07/2021 | |
| 04/03/2021 | Interim | GBP | 0.0071 | 11/03/2021 | 12/03/2021 | 14/04/2021 |
| 13/01/2020 | Interim | GBP | 0.0071 | 10/12/2020 | 11/12/2020 | 13/01/2021 |
| 13/01/2020 | Interim | GBP | 0.0071 | 10/09/2020 | 11/09/2020 | 14/10/2020 |
| 13/01/2020 | Interim | GBP | 0.0071 | 11/06/2020 | 12/06/2020 | 15/07/2020 |
| 13/01/2020 | Interim | GBP | 0.00697 | 12/03/2020 | 13/03/2020 | 15/04/2020 |
| Top Posts |
|---|
Posted at 30/1/2025 20:49 by pavey ark Boystown , certainly "chalk and cheese" but will have a closer look as always looking for genuine diversification in my income portfolio.As far as "safer" goes its difficult to get safer than health care and supermarkets but just to prove myself wrong SEQI has certainly outperformed both over the last three years. I don't hold SUPR and don't intend to as it seems to move in lock step with AGR.....and AGR looks better to me (??) Having bought AGR several times in the last month I now have an average of 37.5p and very happy with the 9% return and dividend payment should rise steadily. I subscribe to the Charlie Munger theory that diversification for its own sake doesn't produce the best results but my holding in AGR must have reached its maximum so will look in detail at SEQI. |
Posted at 30/1/2025 10:04 by pavey ark I see that Citywide have published a list of eight "undervalued" ITs.....their two property picks are CREI and SUPR .I hold some CREI ....the best of a doubtful bunch of shed, shop and office REITs SUPR certainly has a following on ADVFN and is similar in many ways to AGR .....similar but in my opinion inferior to AGR. The three year share price fall graphs for both look identical and the discount is similar but in spite of the oft quoted high LTV for AGR it has a better credit rating than SUPR and a higher dividend yield. People need to eat and they do get ill so there is a strong similarity between these trusts but AGR looks a better bet to me......but then I've bought a lot of AGR and don't hold any SUPR ......some posters fail to make these little details clear " you pays your money you takes your chance" |
Posted at 20/1/2025 17:52 by kernelthread >>understand AGR and PHP both suffer with the District Valuer who is supposed>>to advise rent increases according to the local market except >>there are few DVs in the country so delays waiting for them to attend and >>they are reluctant to increase rents too much as these entities are paid for >>out of NHS funds and ultimately funded by the Taxpayer/government. Is that really how it works? I don't hold either AGR or PHP at the moment but have been considering it. But this sounds like the customer gets to decide how much they want to pay, which is never going to make for a profitable business as far as I can see. |
Posted at 14/1/2025 17:27 by pavey ark "Hello" !!??.... let's start with your reasoning for not liking the deals then I will take you through the fine details in the the company announcements and the video presentation.Oh what the hell!!....I don't expect to set up a conversation here. I am more than positive on these deals as the USS deal will allow AGR to realise cash with the disposal of a number of properties at "low 4s % return"......and bring down debt. The USS deal is initially for £250m but likely to increase to £400m...AGR will hold 20% and get a management fee. The Hospital deal is at 6% yield and the terms look very good and would strengthen any property company. The hospital deal diversifies away from almost total reliance on the NHS/government. The dreaded 49%, pant wetting (oh my god...would you look at that !!!) LTV has to be seen against the property portfolio and the tenant list.......and against the debt profile.....I don't consider debt to be a problem. I have bought a fair number of these for my income portfolio and firmly expect the dividend to rise each year ....as it has for the last eleven years. Things can go wrong with any share purchase but I see nothing wrong with the two recent deals that would/could be blamed for any subsequent underperformance. ( in a private hospital yesterday with my wife.....place was very nice....very busy and not cheap !!) |
Posted at 14/1/2025 10:31 by chucko1 They (AGR, that is) cited in the November Report that a rise in rates over the next 4 years would impact EPS by 0.2pps. This appears consistent with their debt profile (average life 6 years) and a presumed refi rate of 5.5% (likely to presume slightly higher now), and this would take them to a slightly below 1.00x div cover.But that is after four years and earning a 9%+ yield for 4 years which is 400+bps in excess of the risk free rate implies a 16%+ reward for the slight future pain. That 16% represents around 6pps. Which is 30 years worth of 0.2pps deficit!! Or 60 years worth of average 0.1pps deficit. And they cite, supposedly, concerns over 18 months. That's really odd given the debt profile and pretty well cast iron income from rentals to a recess-resistant asset/tenant base. All I can think is that this Dutch outfit have been reading the headlines on UK debt and modelled that mayhem is around the corner. But even then the debt profile seems to disallow resulting problems for AGR over the 18m timeframe. I would love to have sight of their assumptions. George, perhaps you could be useful for once in your life and provide this - I don't frequent Dutch financial analysis as often as I once may have done! Over a longer timeframe, I see material work needs to be done to solidify the financial standing of AGR, as I have previously argued, but at the current 36p, it is reasonable to think that management will manage the balance sheet as necessary and hence the balance of risk/reward is very favourable. |
Posted at 09/1/2025 12:23 by chucko1 Although, as previously stated, I am not the greatest fan of AGR owing to certain alternatives, I have added again today on top of recent purchases at 38p(ish).There is elevated interest rate risk, but I feel the now 9.2% yield where the underlying assets are recession-tolerant is taking AGR higher up in the risk-reward table! |
Posted at 09/1/2025 07:57 by cwa1 Jonathan Murphy, CEO, said:"We have maintained momentum in the third quarter continuing to deliver against our strategic objectives. The recently acquired 14 private hospitals are now fully embedded into our portfolio and are performing as we anticipated. Our asset disposal programme, announced at the time of our private hospital acquisition, raised £48 million during the period and active discussions are underway on a further £110 million. We are on track to hit our target net debt to EBITDA below 9 times and LTV below 45% over the next 12 to 18 months. "There is ongoing national recognition that improved health outcomes can be delivered by investment in community healthcare and through utilising capacity within the private sector. We have seen this recognition backed up by policy actions: £900 million of funding for GPs announced in December; an additional £100 million of committed investment to upgrade the GP estate; and this month a new partnership agreement between NHS England and the independent sector to work together for the benefit of patients. Assura is uniquely positioned to support this shift through the delivery of high-quality, modern and sustainable facilities. "As the UK's leading diversified healthcare REIT, our progress in the third quarter, and a dividend yield of over 9%, strengthens our position as an attractive long-term investment that is underpinned by stable trends in the UK healthcare sector." |
Posted at 02/1/2025 09:57 by pavey ark I have just topped up to my limit (self imposed) for an individual share in my income portfolio.I have had a good look at AGR and a very close look at the debt profile. I do not consider the 49% figure to be a significant problem. AGR have increased their dividend for eleven years and I expect management intend to continue this sequence. Between the USS deal and disposals I expect the figure to come down but until it does a 3% weighted average debt rate does make it very manageable. Interesting the shorter loans are at SONIA plus 1.1% (a very low rate) and the Finch credit rating is A- both reflect the security of rental return. You pays your money you takes your chance. EDIT: I do agree that the newspaper article should have mentioned the current debt level. |
Posted at 03/7/2024 14:43 by george stobart Sir Kier Starmer loves the NHS more than anything in his life and will do whatever it takes to increase the share price of GP surgery stocks like Assura and PHP.If you Vote For Sir Kier Starmer AGR dividends are guaranteed |
Posted at 22/5/2024 08:44 by george stobart Jefferies Note - Wednesday, May 22, 2024FY24: Not Quite a Clean Bill of Health - PT 45p and cut to Hold LTV is 43% with the new JV, but more action is needed to allay the risk a credit cut. Options include an equity injection (shares trade at 13% disc to NAV), asset disposals (earnings dilutive by c. 300-400bps) and curtail development (AGR is being priced out). Our PT is cut to 45p factoring in the dilutive impact of £200m (Jef Est) pa high yield/low growth asset sales to degear to 30% but the 7.8% DY risks being uncovered (FY25 1x). The shares are cut to Hold. Earnings & Dividends: In FY24 net rents were +4% to £143.3m with average reviews +3.9% (FY23: 3.8%) governed by the district valuer, the commercial arm of the Valuation Office Agency which advises the NHS on valuations, rent reviews and rents on new developments. Vacancies are 1% (unch) and the contracted rent roll £150.6m pa, rising to an all up £161m on developments and reviews. Admin was £13.2m with an EPRA Cost Ratio (incl & excl vacancy costs) 13.2% and 11.7% resp. (FY23: 13.5% & 12.3%). EPS was flat at 3.4p (FY23: 3.3p) and +5% DPS 3.26p, below the 10yr CAGR of 7.3%. Portfolio Performance: Revalued at £2708m on NIY of +30bps to 5.17% after a -4% Lfl w/down (FY23 -6.4%) partly offset by value activity. The NAV was -8% to 49.4p but the spread wide at NIYs 3.8%-8.5% (equiv 3.9%-8.5% so there is thin organic growth) with the valuer's ERV assumptions £100-£750/sqm (FY23: £100-£669/sqm). The new 15yr life JV with USS diversifies funding and will be seeded with seven (no development, long dated, index linked) assets from AGR valued at £107m at an undisclosed discount. The JV will target acquisition-led growth to £250m with AGR retaining a 20% stake with a management fee. Development Programme: AGR does not disclose target returns and five schemes were completed with a value of £71.8m in a mix of GP surgeries and broader healthcare markets. Three new schemes are underway with two in Ireland and one in Bury St Edmunds, making eight schemes on site with a combined development cost of £91.2m with £42m remaining to spend. Higher construction and financing costs are affecting the pipeline as AGR needs c 30% higher rents to be viable and thus schemes are being postponed. Financial Position: Net debt is £1.2bn (all unsecured) at a kd of 2.3% (unch, all fixed) and termed 6yrs. Over the next four years, £170m of debt needs refinancing which at 5.5% would impact EPS by -6%. Gearing is, we maintain, too high and risks cut from Fitch A-. The net debt/EBITDA ratio at 9.4x is >9x Fitch’s rating sensitivity, and 4-5x looks more appropriate. The LTV at 45% is elevated after two years of portfolio w/downs and can operate in the range 40-50% but we view <40% as appropriate. The 3% 2028 bond (Ex 1 traded above its issue spread in 2023. Outlook: CEO Jonathan Murphy: "The long-term partnership aligns with cross-party political support for investment into essential NHS community healthcare buildings.” |
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