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AGR Assura Plc

1.08 (2.44%)
01 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Assura Plc LSE:AGR London Ordinary Share GB00BVGBWW93 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  1.08 2.44% 45.28 4,793,316 16:35:18
Bid Price Offer Price High Price Low Price Open Price
45.22 45.30 45.30 43.94 44.14
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Agents & Mgrs 150.4M -119.2M -0.0401 -11.29 1.34B
Last Trade Time Trade Type Trade Size Trade Price Currency
17:52:05 O 72,208 45.28 GBX

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Date Time Title Posts
17/11/202308:02Assura Group1,100

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Posted at 03/12/2023 08:20 by Assura Daily Update
Assura Plc is listed in the Real Estate Agents & Mgrs sector of the London Stock Exchange with ticker AGR. The last closing price for Assura was 44.20p.
Assura currently has 2,971,593,265 shares in issue. The market capitalisation of Assura is £1,344,943,112.
Assura has a price to earnings ratio (PE ratio) of -11.29.
This morning AGR shares opened at 44.14p
Posted at 17/11/2023 07:54 by perfect choice
Thanks, they just need to manage it and not get out of hand, 50% tops I would say, don't want to get anywhere near covenants.

Equity raise too early in current market so definitely not preferred.

Ramsey Health (Private health: Completion of newly built state-of-the-art day case hospital for Ramsay Health Care UK in Kettering stated in RNS) yes sounds a too good an opportunity to miss for AGR so worth the raise on LTV if need debt to fully/part fund work.

Thanks jonwig for the additional feedback.
Posted at 16/11/2023 21:48 by perfect choice
Good to hear, like to think of AGR as an unexciting but steady and secure investment. Any comment made at all on LTV strategy, as only area I would like to see greater visibility of plans.

RNS states "Our LTV ratio currently stands at 44% and will increase in the short term as we utilise cash to fund the pipeline of development and asset enhancement opportunities. We generally operate with an LTV in and around 40%, and our policy allows us to reach the range of 40%-50% should the need arise.". So up from 41% and while OK for now, wouldn't want it to get much higher despite what was stated.

Just wondering if anything stated in the presentation, or just wasn't a subject needing discussion today?
Posted at 16/11/2023 12:09 by speedsgh
From today's interims...

Assura outlook

The market to expand our portfolio through acquisition in the UK has been muted over the months, since the bond market reaction to the mini-budget in September 2022, and this remains the case today. Looking ahead we would expect the majority of our growth in the short-term to come from maximising the returns on our existing portfolio, focusing on developments and asset enhancement opportunities as the areas in which we can generate most value-add.

We are on site with 10 developments, with a total cost of £114 million that will complete over the next 15 months. These have a remaining spend of £55 million and are fully funded from available cash.

The recent challenges in the construction industry, with significant cost inflation and higher finance costs, continue to impact rent negotiations on pipeline schemes. Generally these negotiations remain slow, but we are starting to see positive movement in some locations where the NHS need for investment in new buildings is strongest. We only move on site when all aspects of a scheme (NHS approval, fixed price construction contract, agreement for lease in place) are agreed in full.

We are seeing progress in our areas of strategic expansion - working directly with NHS Trusts, private providers and stakeholders in Ireland. Each of these areas are closely aligned with our existing portfolio, being buildings that deliver health services in a community setting - aiming to relieve some of the pressure on the NHS system - with a strong underlying occupier covenant.

Our on-site developments include four schemes directly with NHS Trusts (Shirley, Fareham, Cramlington and Bury St Edmunds), one with a private provider (Guildford) and also our first two forward funding projects in Ireland (Kilbeggan and Ballybay). Similarly, our immediate pipeline of four schemes (total estimated cost of £25 million) contains three schemes in Ireland, building on the recent successes we have had in these areas becoming meaningful contributors to our portfolio and cash flow stream.

Having completed five asset enhancement projects (£3.3 million) in the period, we are on site with seven more (total spend £6.9 million). The nature of each of these projects is different - for example, a significant extension and refurbishment of the existing area at Wantage, a sustainability-linked improvement alongside a lease regear at Doctors Lane in Darlington, and a sustainability linked upgrade in Banbury (conversion to air source heat pump) - but crucially responds to the needs of the customer and patients at that particular location. Delivering opportunities such as these helps us serve our customers best, as well as driving long-term returns from the assets in our portfolio.
Posted at 16/11/2023 10:08 by american idiot
Assura PLC forms bullish "Head and Shoulders Bottom" chart pattern
Nov 14, 2023

Trading Central has detected a "Head and Shoulders Bottom" chart pattern formed on Assura PLC (AGR:LSE). This bullish signal indicates that the stock price may rise from the close of 47.10 to the range of 52.00 - 53.25. The pattern formed over 34 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.

Tells Me: The price seems to have reached the end of a period of "accumulation" at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend.

The Head and Shoulders Bottom is created by three successive declines in the price following a significant downtrend. The lowest low (head) is in the middle, flanked by two higher lows (shoulders) at roughly the same level. Volume is highest as the price makes the first two declines, then diminishes through the right shoulder. Finally volume surges as the price closes above the neckline (drawn between the two highs) to confirm the reversal.

This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Posted at 16/11/2023 08:11 by jonwig
HY results:

No surprises, I think. 5% dividend increase to 0.82p per quarter. Fully covered and 10th consecutive year of increase. Yield over 7% is a bit ridiculous.
Posted at 09/10/2023 15:14 by jonwig
graham - exactly ... AGR isn't the only crazy valuation!
Posted at 09/10/2023 06:11 by jonwig
Excellent trading update:

... and refinancing on better terms. With a yield almost 8%, the share price can take care of itself.
Posted at 28/9/2023 07:11 by spectoacc
Breaking down in a way PHP aren't. What's the debt schedule like at AGR? Getting at least tempted down here.

Edit - in at 41.93p, good luck holders. LTV is massive but rent roll seems assured (no pun intended).
Posted at 10/7/2023 04:36 by grahamite2
Shore Capital: Assura offers confidence in future dividends
Property business Assura (AGR) has a business model that is offering long-term attractions, says Shore Capital.

Analyst Andrew Saunders reiterated his ‘buy’ recommendation on the developer of medical centres, which fell 1.1%, or 0.5p, to 44.4p on Friday.

A quarterly trading update from the group confirmed ‘good progress with its programme of new development and asset enhancement’.

‘Assura’s balance sheet looks in good shape with an average cost of debt of 2.3% and no meaningful exposure to the increasing cost of debt and bond finance being witnessed in the wider real estate market,’ Saunders said.

He said that the Assura ‘operating model offers several long-term attractions that should help underpin investor confidence in future dividend payments’.

‘Assura’s shares currently trade on a 14% discount to our forecasts full-year 2024 net tangible assets of 54p and also offer a secure forward dividend yield of 7.1%,’ he said.
Posted at 25/5/2023 18:41 by jonwig
I'm wondering here just how important "NAV" is (as opposed to secure inflation-linked rents). After all, it hasn't alternative use, and will be permanently occupied as a health centre until demolished, leaving a low residual value.

NAV, as recorded in speed's post above is surely constructed from gilt yields. For many years, the share price stood at a huge premium. There can't be many safer income streams.
Assura share price data is direct from the London Stock Exchange

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