ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

NRR Newriver Reit Plc

80.90
3.40 (4.39%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Newriver Reit Plc LSE:NRR London Ordinary Share GB00BD7XPJ64 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  3.40 4.39% 80.90 78.80 79.50 79.50 76.00 76.00 816,253 16:35:05
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust 73.6M -16.8M -0.0537 -14.80 248.52M
Newriver Reit Plc is listed in the Real Estate Investment Trust sector of the London Stock Exchange with ticker NRR. The last closing price for Newriver Reit was 77.50p. Over the last year, Newriver Reit shares have traded in a share price range of 72.90p to 92.00p.

Newriver Reit currently has 312,603,487 shares in issue. The market capitalisation of Newriver Reit is £248.52 million. Newriver Reit has a price to earnings ratio (PE ratio) of -14.80.

Newriver Reit Share Discussion Threads

Showing 726 to 750 of 4325 messages
Chat Pages: Latest  41  40  39  38  37  36  35  34  33  32  31  30  Older
DateSubjectAuthorDiscuss
24/7/2018
10:23
HMSO have bid interest in the background, so it's perhaps accelerated
a strategy refocus.

Hp, the rapidity of the DEB profitability decline is something to behold.
Would hope most PI's are long gone.

essentialinvestor
24/7/2018
08:58
HMSO report well worth a read. No so much for the direct comparison, but what they are doing. It is aligned with my view, so confirmation bias aside I'm comfortable with the trends:

1. Moving out of retail parks. In my opinion these are a bigger loser from the internet than the high street. They were all about convenience for the car driver in return for a soulless experience. Noted 10% below book NAV on what they have sold thus far.
2. Reducing department stores and single unit fashion.
3. Long centres of excellence.
4. Long premium fashion to go in those centres.
5. Using land near those premium centres for residential.

NRR isn't playing the same game, but I think this is important, internet shopping can be less convenient for those close to shops. This includes supermarkets, food shopping and fast moving, through an array of consumer goods including fashion, homeware and durable goods. The key to new retail is high density, both in the immediate and local vicinity, with travel by foot or convenient high frequency public transport. That density can come from commercial as well as residential, but both covers a lot of bases through the week. It looks like both HMSO and NRR are playing this strategic game.

Edit - to be clear, NRR and HMSO are diverging on the retail park element, and I prefer what the latter is doing, however I'm ok with NRR specifics in this regard, and that no frills supermarkets are a good anchor tenant. Worth discovering where the Tesco Jack fascia will end up.

hpcg
23/7/2018
16:31
HMSO update tomorrow,
appreciate NRR operate in a niche sub sector.

essentialinvestor
23/7/2018
16:09
Sure, but that ties up capital too. If GBP moves a lot against the Euro or USD, say 10%, then I can have that capital appreciation as well as any income and recycle into NRR and get a lot more for my money.
hpcg
20/7/2018
10:38
hpcg - you can hedge your GBP income very easily if it's the FX risk that concerns you. In any event, do you not have GBP outgoings to match against?
chucko1
20/7/2018
10:27
EI - I'm not chasing, if buying at 280p could be called that. Perhaps 270p is support? Still that 10p is 3%, which is meaningful in this context. My caution is that these are sterling earnings and I feel safer with euro / dollar income plays at this time.
hpcg
19/7/2018
14:09
Hp, nicely timed.
Nearly bought a very small amount Monday,
however thought a greater discount to NAV may be available,
Perhaps a misjudgement on my part. Will keep it on watch.

essentialinvestor
19/7/2018
13:31
A0002577, you may already have done so, but if you go onto the NRR web site and look at the short videos from the various senior management, you may (I did, anyway) gain significant confidence in their ability to deliver. They are very experienced with a successful track record, not just in this enterprise, but in two previous ones (property-related). There may be certain risk-factors that investors accept/decline concerning NRR's prospects, but I do not see management as one of the major ones.
chucko1
19/7/2018
10:28
Quite right, hpcp, One of the reasons why I have invested in this. Another one is the way they are adding value to their pub estate by building 'corner shops' near them where they have the land. If half of what they say in their annual report and the recent update is true then they do really have some USPs. If it's all true - and there is no reason to suppose it is not - then it has to be the snip of the day.
a0002577
19/7/2018
09:55
fenners - my understanding is that the revisions to planning regs a couple of years ago make change of use to residential more or less pre-approved unless there is some major reason why not. In reality councils welcome it because it brings super local footfall to town centres, new housing, and higher density to spaces which are often quite low rise.
hpcg
18/7/2018
16:41
@SpectoAcc, I suppose the other view is the they are reminding the market that they are more than about just retail. The pub estate has been built over some time, so I suppose it's natural to refer to it, especially as they continue to make additions. Ditto residential development.

@hpcg - you worry that you are gradually catching a falling knife, but at least the heavy and increasing dividend (covered) allows you to wear thick leather gloves as you do so.

I see the risk/reward here being as good as it gets considering the REITs sector. That's the good thing about having others with an alternative viewpoint - without that, the available returns would never have presented themselves!

chucko1
18/7/2018
07:46
Better than market footfall - but still down (2.5%)

i didn't know about the options for developing residential units - how far have they got with planning permission and presumably securing a building partner / where are they located ?

fenners66
18/7/2018
07:10
Good t/s, tho not seeing anything new in it. Not sure they should keep reminding the market they're now partially a pubco ;)
spectoacc
17/7/2018
09:36
I bought some yesterday. Possibly too soon, as realistically I expect it to fall more. I need to do a bit more research, but from what I saw of some sites I think the properties are resilient. Hotels are a growth business and I think they are good anchors for a range of sundry type retail; convenience stores, food, and even pharmacy to an extent. I don't see the likes of Wilkinson's disappearing in the same way that Aldi, Lidl and Primark won't; their business model does not support delivery, which however you look at it is more expensive than a retail hub-spoke model. Similarly any other esoteric non-retail which generates foot traffic - and I include in that housing.

So I guess I gradually catch the falling knife because I think the business is sustainable and the returns relatively secure. Gulp.

hpcg
17/7/2018
09:04
Probably it did, Fenners, but that is blindingly obvious as the share price is pretty close to its original issue price (250) and has moved from a premium to a discount as the whole sector has been de-rated over the past few months. Holders have lost some money - but if I buy it will be the first time in to this share - and I am seriously watching it. Now yielding a touch over 8% which is not to be sneezed at.
a0002577
17/7/2018
07:12
Did IC not say that it is not immune to the whole sector being out of favour ?
fenners66
16/7/2018
17:10
In essence a high, sustainable, dividend (forward 8%) which has risen every year since listing, good, well managed player at a 7+% discount to NAV. Rents affordable and high renewal rate of 97%, always looking for added site value by - for example - building a convenience store next to a pub and vice versa and using surplus area for housing.

The annual report gives much more detail and is worth a read. see

Trying to differentiate themselves by calling themselves a Community REIT

"Founded in 2009, we specialise in buying, managing, developing
and recycling convenience-led, community-focused retail and
leisure assets. "

"Our assets either display both convenience and community characteristics
(shopping centres and convenience stores) or strongly display one (convenience
– retail parks) or the other (community – pubs)."

Just about now might be a good time to buy in

a0002577
13/7/2018
17:02
B2, I don't subscribe to IC so what's the essence of the recommendation?
joan of arc
13/7/2018
11:23
Excellent write up and Buy tip in todays Investors Chronicle
bench2
13/7/2018
02:39
Powndworld was always just a poor imitation of Powndland. Weak companies failing and making way for more popular, better run and expanding businesses is actually good for the sector.
2wild
12/7/2018
17:36
Thanks speedsgh.
killing_time
12/7/2018
11:32
"hedged against online retailers because its tenants typically sell low value, high volume goods."

Whilst I agree that has defensive qualities

Poundworld also sold low value high volume goods.

fenners66
12/7/2018
09:24
NRR features in today's Tempus column in the Times...



Newriver Reit went shopping yesterday and picked up the Hollywood retail & leisure park in Barrow-in-Furness for £15.3 million. It was a modest deal, little more than 1 per cent of its entire portfolio, but typical of Newriver, which specialises in no-frills community-focused shopping centres for locals seeking value (Patrick Hosking writes).

The Barrow retail park has no grand department store as its incoming anchor tenant but Aldi, the discount supermarket group. There are no fancy fashion shops but plenty of strong retailers catering for price-conscious customers, such as TK Maxx, Currys and Dunelm.

The average rent in the park is just £11.36 per square foot, which is affordable for most. Yet the purchase gives Newriver an attractive net initial yield of 8.7 per cent and the economic prospects for Barrow have just picked up a little after the government’s recommitment to the BAE Systems shipyard.

Newriver has grown from a £25 million tiddler in 2009 to a £1.4 billion midweight and member of the FTSE 250 through a string of capital-raisings and acquisitions. It owns 34 shopping centres and argues it is hedged against online retailers because its tenants typically sell low value, high volume goods.

Retail property Reits have been clobbered in the past few months. The drip of bad news has soured sentiment and Newriver has not escaped the general selldown. Its shares used to trade at a premium to net assets and only last year it raised £225 million in new equity at a 15 per cent premium. Closing yesterday at 268.5p, they now languish at an 8 per cent discount.

Yet Newriver has some defensive qualities denied to its peers, including its predilection for value retailers. The balance sheet is relatively conservative after it raised £300 million in ten-year debt with an interest rate of 3.5 per cent last year. Gearing at the year end was 28 per cent.

There are risks. The management have embarked on a blizzard of deals that make you wonder how much attention they can give to all the details. A strategy of diversifying into pubs is not an assured success. But the shares are now looking unloved and cheap.

ADVICE: Buy
WHY: It has been excessively hit by sector-wide sell-off

speedsgh
11/7/2018
13:34
Whilst the right locations will survive, the question is will sufficient weakness reduce the value of the whole market ?
When there is oversupply of anything the accepted wisdom is the value / price falls.

fenners66
11/7/2018
12:00
This game is all about location and product sale. Retail is weakening, it isn't dying altogether! The fittest will survive and in retail that is the best locations and product offerings. The question is are NRR delivering here. I just conducted a quick review and I believe they are. Today's announcement WRT Barrow-in-Furness is an example of this, very astute business if you ask me! Forgive the pun.
minerve
Chat Pages: Latest  41  40  39  38  37  36  35  34  33  32  31  30  Older

Your Recent History

Delayed Upgrade Clock