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NRR Newriver Reit Plc

1.70 (2.35%)
21 Jun 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
  1.70 2.35% 74.10 72.60 72.90 73.60 70.80 70.80 1,254,251 16:35:22
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust 73.6M -16.8M -0.0537 -13.58 227.89M
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 72.40p. 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 £227.89 million. Newriver Reit has a price to earnings ratio (PE ratio) of -13.58.

Newriver Reit Share Discussion Threads

Showing 3926 to 3948 of 4350 messages
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Huge Pants - that's a better point.
So the CFO makes it a game of poker, and leverages it still.

Is it as simple as that though fenners? I believe the rental cost in shopping centres is based on footfall. I expect many shops could find cheaper accomodation in a deserted high street but what would be the point?
Porsche, how many boards have you posted that message on?

You do realise, although it only partially explains the difference, that the DAX is a total return index, as is the DOW, whereas the FTSE is not. So to compare the FTSE with the DAX, for example, you would have to add back in all the dividends reinvested.

The S&P has big tech in it, so that's far out of reach.

FYI - from Dec 1999, total return of DAX is 3.97% per annum, whereas it is 3.66% for the FTSE. FTSE 350 actually has an equivalent 4.70% annual return, and that is an index more representative of the UK. In the last year, it is up 26.6%.

These facts are making your analysis look like a product of frustration.

gbj - As I have already posted above the relevance....

Enough people on here (I understand) believe that there is no relevance if shops are empty somewhere else.
Originally the view here was that if the shop next door was empty and not owned by NRR it did not matter.

Then if the whole street etc. it does not matter.

Now if the whole nearby town is empty it does not matter.

My point (already made) is that supply and demand dictates rent of other properties as a shop can always move and therefore negotiate a lower rent to stay.

We saw it 2 years ago with high street shops. XYZ has gone for a voluntary scheme of arrangement or whatever , so we want a rent reduction or else.....

If you cannot understand the point , let me give you a current football analogy.

Mo Salah , perfectly happy at Liverpool. Scores goals , has won trophy's, fans love him , earns a fortune.....

BUT , he now sees that others are reputed to be getting £500k a week. Result the new contract talks are for the same, because he could get it elsewhere , despite his current Liverpool contract.
Do Liverpool get held over a barrel and pay it? Or will he be moving for pastures greener?

You find me a CFO who looks at £m's of potential savings and does not try and leverage that with current suppliers and I will show you an idiot. The store does not have to move.

That's spelled out again, you don't have to agree, but if you do not understand the point now , there's no helping you.

PS in case you have not been reading this thread for 5 years or so, I was arguing the decline of retail then, pre-covid. Covid has only accelerated the trend.

They have the same number of High St. shops they did when the share price was both 220p and 43p.

Peoples' concerns seem to reflect the recent share price action rather than the real stuff going on. But this has materially affected NRR in that valuers were concerned about all sorts of properties when the shooting started in March 2020 and NRR's sale of the pubs more reflects a need to strengthen its balance sheet than any real issues with the business. That has cost them as they got an acceptable, but not good price in the sale. So some capital loss sustained. Some of the missing rent also has added to permanent loss of capital. But, I would say, not too much.

Nevertheless, there remain a lot of unknowns with NRR that will take time to play out. More years than I originally planned for, but that's OK - you manage your risk and therefore can deal with one or two stocks remaining challenging. This uncertainty worries some. They are not disposed to seeing ludicrous value at 44p (after a huge sale by an institution at indecent speed) and therefore missing what was 150% upside.

People who see NRR as simply one thing regardless of the price are unlikely to ever see what is on offer here. Same as EPIC was and RGL was. And SREI. And AEWU and some others, although NRR nearer the eye of the storm.

I'll ask you again fenners, how many high street shops does NRR have? Because if the answer is none, then the question of what happens with high street shops is irrelevant. You might as well tell me shops in Afghanistan are failing to thrive.

They likes of b&m are already in the big and small shopping centres that NRR does own,

My local town centre has stupidly, imo, allowed several offices to be converted to resi and they've sold like hot cakes. I was surprised how quick they went then discovered majority are selling with help to buy support from gov. What not to like 25% of the loan interest free for 5 years no wonder they shifted.

So i can see why RESI is attractive currently but without this support scheme the demand will drop away and prices will no doubt fall back. You don't need to worry on this scheme as gov will share the losses with you.

Thing is NRR are late to the party here with no scheme underway and with elevated construction costs returns could a while yet but I suspect they are hunting for partners here as its not there core business.

Personally i see 6p divi sustainable but NAV will continue to drift down for several years as new lower rental levels continue to exert downward pressure and share price is reflective of that. Liberum always behind the curve i see NAV dropping to less than 120 this years then stabilising around 110 by 2024 when most longer term rental arrangements will have expired that support the rental yield.

Certainly interesting at sub 80p and always possibility someone will step in.

Quite a bear attack going on here!

Liberum have recently updated. Buy rating. They estimate YE NAV at 131p and 136p by 2024. However debt will be halved by then from last year.

2022 dividend of 6.1p rising to 7.7p in 2024.

NRR is out of favour just as BMO Commercial and Schroders were. Once the large seller(s) are cleared we should get a bounce. The bad news now looks to be in the price

ok gbj - what is going to happen to the probably 100,000 + empty shops there are in towns now?

We have seen in the last 20 years a swing around from empty to full commercial premises on industrial estates, maybe retail will be cyclical too.

But we now have masses of warehouses servicing internet shopping.

We get deliveries 7 days a week, so like canals the world is leaving a lot of retail premises behind.

The only way to return as shops will be to slash rents, then you will get the likes of B&M , Home Bargains etc. reconsidering returning , I know they were there before.
IF they can rent on the High Street for next to nothing the point will come up at the next rent review. They do NOT have to go back to the High Street, they just have to threaten it and that based upon supply and demand will reduce rents.

Certainly every CFO should be looking to beat up their landlords.

The alternative for the High Street? Turn it back into housing , but who wants to live on the high Street?

I am well under the water with my initial investment in NRR for the reasons that fenners66 states. I bought for the yield after hearing management present at Mello in Derby a few years back. I bought the idea of community stores. I bought the idea of community pubs and the alternative use possibilities after seeing a pub near me that NRR had converted into a community co-op. I liked the yield. I watched the share price fall back until it reached a level which I thought would act as support and then I bought. How wrong I was! The share price continued to fall and the divi evaporated.
I have, however been adding at these low levels in anticipation of a 7p annual dividend starting this year and a 10% yield on my purchase prices, plus a decent discount to nav.
The pubs have gone, the balance sheet is in better shape and the community shops will continue to thrive, as will out of town shopping.
I doubt that we will ever see the share price reach dizzy heights of my original purchase, but I can see a decent return on my total investment and a good income from it.

lord gnome
But you don't say anything useful except "look the high street is closing", parroting the usual sensationalist headline stories.

I can see with my own eyes the high street is a terrible state, has been for years now. I can also see the out of town malls and shopping centres are packed full every time I drive past them or visit them myself.

People want to shop, they want to go out, nobody is going to end up living in a box never leaving it (well, maybe that will come to pass but only because the Tory government goes full CCP on us)

So, with this investment case you have, how many high street shops does NRR have? If it's none, then stories about the high street collapse are meaningless to NRR.

I will accept the case for interesting in then has changed with the pubs gone, but it's too soon to say if that will make enough of a difference. YMMV on that.

Well if you have any good news to counter , feel free.
There is no point in a board being an echo chamber.
From 300+ I have been told that NRR is different.
Their Pub estate was different.
That the alternate use was different.
That their collections were different.

So actually there have been a lot of bull points made.
I nearly invested for yield some years ago, that is why I started looking at them....

I have been told repeatedly that since (what is now left ) is different it is immune to any pressure on rents...

I happen to believe that supply and demand comes into pricing in non-regulated , capitalist markets.
The last 2 articles were from the DM and BBC , they could be in everyone's face already, but maybe some have not read.

I do appreciate having bear points pointed out about an investment or potential investment.
IF I can counter them, then I can invest , if I cannot I don't .

He seems to scour news for everything negative that he can post. The reason is unclear but he could be kind hearted soul determined to prevent us fools losing our shirts. Yeah right.
alter ego
Can I safely assume that you are not invested here fenners66?
lord gnome
From the BBC

"More than 8,700 chain stores closed in British High Streets, shopping centres and retail parks in the first six months of this year, research suggests.

That is an average of nearly 50 outlets a day as the impact of the pandemic and changing shopping habits continue to hit many towns and city centres. "

I guess those potentially empty 8,700 stores will also have no bearing on NRR, or on rents around them.....

Nearby I have seen multiple empty shops , now with signs in the windows, "Substantial Rent Reductions - To Let "

There is only one way for retail rents to travel , imo.

From the DM

"Britain's High Street has lost 83 per cent of department stores since the collapse of BHS in 2016.

Just 79 of the main shops remain open compared to 467 five years ago, new data shows"

"It means 388 has closed, including 237 left empty and 52 with plans to change it into another business."

Of course as those on here have said , loss of destination shops and a glut of available property , will have no impact whatsoever on NRR........

Exactly right.
FD/CFO. Frankly it's a semantic distinction. He has taken over from previous CFO Mark Davies who was on 600k+ package. If the prospects were good why on earth stop at 50k shareholding?
It is the CFO but previously was the FD

why do they need a CFO and an FD
same reason the need 3 brokers - they dont know what they are doing

they've also appointed an insider who is part of the crew that turned £3 a share into now 79p. another red flag

Another nugget you might like to chew on
the capital markets day where they will explain their strategy and delivery - they've been forced into this because their share price in heading south. As usual every time they have anything to say the price falls.

"NewRiver will be hosting a virtual Capital Markets Event at 10:00 BST on 30 September 2021 focusing on our retail strategy going forward."

See below from the press release
"while our active approach to asset management and inbuilt 2.5 million sq ft development pipeline provide further opportunities to extract value from our portfolio."

they think this is good news?

they have decided to expand the current 8m sq ft portfolio (in press release) by another 2.5m = a 31% increase in shopping real estate and high density city centre residential over the next few years.

At £300/ capital cost per sq ft (my guess) it will cost them £750m. That will blow the balance sheet to bits unless asset prices for shops and flats skyrocket -

sound like a good bet anyone?

will somebody please buy this or replace the chair and CEO

Bondholder, you need to get your fact's right. Will Hobman is not the new finance director, he held that position for the last 2 years. He is the new CFO. He has been with NRR for 5 years. He does not have to buy any shares. IMO Director buying for £10k or less can be a red flag, at £50k it is not.
I've got to disagree with you on this. As the new finance director he has to buy some shares. Based on what the last finance guy was earning around 600k plus I think that to spend 50k on shares is about the absolute minimum. If anything this is a large red flag. I know some people will always make excuses and say well maybe he's got a big mortgage or whatever but at the end of the day actions speak louder than words.
Odd as anything to have 3 brokers for a company this size. That's three (typically) being paid a retainer for starters,
Well its not helped the sp!
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