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NRR Newriver Reit Plc

3.30 (4.87%)
Last Updated: 15:51:09
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
  3.30 4.87% 71.10 70.90 71.10 71.40 68.20 68.50 517,352 15:51:09
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust 73.6M -16.8M -0.0537 -13.24 222.26M
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 67.80p. Over the last year, Newriver Reit shares have traded in a share price range of 67.70p to 92.00p.

Newriver Reit currently has 312,603,487 shares in issue. The market capitalisation of Newriver Reit is £222.26 million. Newriver Reit has a price to earnings ratio (PE ratio) of -13.24.

Newriver Reit Share Discussion Threads

Showing 3826 to 3850 of 4350 messages
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LOL, fair enough. Just a figure of speech, of course. However 6% off is a decent discount IMO and is the largest drop I have on any of my many watchlists today FWIW!
Not sure I would describe this as a "collapse"............ a great day trading stock

Agree, must be some scope for a significant recovery in NAV and revenues. Impact from covid on combined revenues from retail and pubs was about £40m and I would expect they should be able to regain a large proportion of that though the proposed Hawthorn disposal will have a large bearing in the short -med term.
Didn't SEEM like a 5% off type announcement to me. Had my eye on it for some time now and wondered if now might be a "fair value" point to take some? Despite the fact there seems a persistent seller about I've dipped my toe in for a few at just over 99p. Will keep the powder dry on the possibility of a few more if it collapses further.

Good fortune all

I agree. Pub sale shd give it another kicker as you say.
NAV at 151p with valuations still depressed, yield set to increase with a resumption of dividends, LTV set to reduce markedly when the pubs are sold. First stop 150p I would hope. Six months to get there, should be looking a lot stronger by next interims.
lord gnome
Indeed not too bad. This is now a good recovery play.
lord gnome
Not too bad
Brief mention (very little specific detail and somewhat old where the detail is mentioned) in Sunday Times talking about shares which have yet to recover:

NewRiver Reit
Real estate investment trusts (Reits) — companies that own property assets — have also had a difficult pandemic. These Reits are largely geared towards shopping centres, so rents have been down.

Hammerson, which owns Birmingham’s Bullring, said that rental income in 2020 fell 41 per cent and that it had collected less than half of its rents this year. For Regional & Capital, the company that owns the Kingfisher shopping centre in Redditch, those figures were 30 per cent and 53 per cent.

NewRiver owns retail parks as well as shopping centres and has held up better. Many tenants have kept trading through the pandemic. It collected 70 per cent of its rents in the three months to December, it said.

Hewson said: “In a sure sign of confidence in its strategy the business is expanding, acquiring a 10 per cent stake in The Moor retail complex in Sheffield.”

Sky News saying Admiral Taversn also interested in Hawthorn so looks increasingly likely they will achieve north of £200m for Hawthorn. Would an IPO realise more and would they hold back a stake?
Retail figures are a reflection of pent up demand it will need 6 mths before a better level of long term demand is clear. Also govt support schemes are falling away over next few months so how will the economy fair then is what will drive valuation. Its not going to drop much further come annual results in a week or so but whether its the bottom isn't clear yet but the bulk of the drop is in the NAV now.
Ultimately if you were to try and liquidate the portfolio in todays market we all know you wouldnt be left after paying debts with anything like their stated NAV of 169p IIRC from September, due to lack of demand for retail. But they are not attempting to do that right now.
Bet in so much that it exists is that when we open up for good (retail figures this week look v.good btw) the demand will return to a certain degree for these assets to more normal levels. At some point the land itself becomes more valuable as alternative use.. however been stung with their alternative use on this before to the point as to ignore it!

This is all true, but the share price is worried about something rather worse than £200mn. Anyway, the forthcoming results and statement regarding income collection will give an idea where this is at and how the community stores have reopened/traded, but my target of 130p or so still has not changed!

This has not paid a dividend for a year, so a statement on that will also de-risk it to some degree.

Problem here is that the assets are definitely worth less than the book figures in aggregate. Pubs on books at 260m most commentators suggest around 200mRetail parks are valued on a yield around 7 percent Vis Hammerson recent sale at 8.5Shopping centres - the recent Allsop auction saw one sold at a yield near 30 percent Vis 18 in the December accounts. Admittedly a v small centre and hopefully an outlier.
Results out soon. Should maybe even get a divvy? If they rationalism the pubs I would have thought that the share price is still considerably lower than it should an inflationary, opening up, more people velocity kind of world?
Rooney looking to build a pub empire quickly and would save listing fees if they can do a deal could happen very quickly. Also wouldn't get tangled up with CMA which the bigger groups would although i doubt they would want the entire estate.
That seems nice. The rest seems to be worth more than 100m quid?
200m for Hawthorn?hTtps://
Light hearted article, but a positive for retail parks

Behind a paywall but basically says that many shoppers who don't wish to rely on online, but would rather see and feel products will gravitate to easy-to-reach under on'e own steam, easy-to-park, quieter places to shop.

New River even get a mention:

"....and the commercial landlords NewRiver Retail and British Land have both signalled a strategic shift towards retail parks."


I agree - the shopping monoliths are going to struggle as are those anchored on old fashioned department stores. Local shopping will be OK but I can't imagine trailing around Westfield again - paying a fortune to park, £12 burgers etc. We will see.

Not sure it has much relevance for NRR as the rents there are reasonable but the mega-malls are going to take a hit and the malls in bad positions will really suffer. Treaty Centre in Hounslow is little more than a food court as it has lost Debenhams and is now a place with Albanians selling covers for mobiles from hand carts, phone/tat jewellery stores and..........thats about it. Local population demograhics are for ethnic stores and markets.......the place serves no real point except it has a car park

What are the best guesses for what Hawthorn may fetch at IPO? I would have thought a decent premium over book value could be expected given the valuation of other pub companies. If it's to be priced on earnings basis, then 11x ebitda seems to be the going rate for hospitality business - I would expect Hawthorn to deliver well over 20m ebitda per year when things back to normal. I note they mention a potential IPO so perhaps they'd be open to a private equity bid for the Hawthorn business - a lot of dry powder and appetite for pub businesses at the moment.
Hawthorn Leisure, which may float on the London Stock Exchange, is looking to significantly expand its estate. CEO Mark Davies says ‘we are 700 or so pubs today, we would like to get to 1,000 pubs at some point soon and we can probably get there quite quickly. Longer term, we could at least double the size of the platform from there or possibly go even further.’ He adds ‘we will be patient, opportunistic where we can be but we are ambitious and dynamic and the management team can do deals. That's how we built Hawthorn to what it is today so all of that is recognised.’
Hammerson: Shopping centre giant slashes rents in revival bid

I would say this is the minimum. Lots of rent free periods and reverse premiums etc coming.

It is based on EPRA earnings, so property revaluation gains can't be paid out as income. Payment (roughly) is based on rent actually received, minus overheads and interest payments.
lord gnome
One thing about the 90% rule ive never fully got, is while its net property income.. which obviously includes cost, does that include asset revaluations down as a cost?
Understand rightly it doesn't include "up" revaluations in the requirements as otherwise you would always need to sell in a rising valuation environment. However
if it does include down as an acceptable cost, theres obviously no requirement to pay out.

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