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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 3951 to 3974 of 4350 messages
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Re auction valuations, can be dire if desperate seller and no buyers. There were few buyers earlier this year.

Whatever, this boils down to BoD credibility. Is Baroness Ford or Ms Chaldecott going to sign off on a 130p to 140p NAV if not remotely in the right ball park?

Retail has been in freefall but do you agree it's now forming a bottom?

Bottom line, 130p offers a wide margin for error.

Yeah me - I exited today
Unfortunately reality is that shopping centres have sold this year at auction for 20/40 psf and 20 plus percent gross yields e.g. West Orchard Coventry / Swan Kiddeminster. Latter was NRR and sold far below latest valuation. NRR have huge exposure to shopping centres. It's all very well to talk about redevelopment but as others have pointed out it takes years to get planning and then you have to fund it without diluting the existing shareholders into oblivion.
Do "we" have any idea as to who the seller(s) are?
Yes, I'm buying in 50K chunks c. 0.4p apart. I'm the only buyer and seller chasing me down in search of volume.

70p is a 46% discount at 130p NAV!

It is certainly struggling to find a bottom
They will be able regurgitate the slide deck from a couple of years back when they promoted Grays as a great RESI development play oh and recycle the artists impression on Burgess Hill again telling us what a great opportunity is. It was four years ago but they didn't act and nett impact is it will cost the more now and as @mindtrash says will be ready into the next down cycle if they push the go button now.

Negatives aside i will dabble again below 70 as someone will see an opportunity to break it up. ie Bravo JV would readily by up the retail pks and there's plenty of daft councils out there that will take on the shopping centres.

I'm still buying and bullish

Debt unsecured and 4 years

Rents are low.

Significant redevelopment potential, especially off the low base above.

Most conservative NAV I've seen is 130p, that's an eye watering discount versus rest of sector and tops Hammerson

Yes it's in out of favour retail but this sector is in the process of bottoming out.

Next year's dividend forecast at 6p - Liberum

The discount to NAV looks overdone and likely to be a large seller trying to exit an illiquid position. We saw this with Ediston, BMO Commercial, Schroders etc. Weeks of being grossly oversold.

Director bought £50K at 82p a month ago.

Investor briefing on 30th September, focusing on strategy and value extraction.

Please. Somebody. Anybody. Come up with a scenario where my analysis is wrong and present a readable alternative where it all turns up profit. No really... I've still got sinking coin in this.
Hello Propinv
Now just under 75p and heading for the swinging sixties
Unfortunately the chair wont be swinging the axe; it all seems too cosy.

As you'll note from prev post to answer your question- no i dont - and particularly resi is an added risk where they seem to have no/little experience? happy to be corrected

1. They'll have to navigate social housing tarrif and viability arguments - a very specilaist area and can take years...
2. They havent explained if the resi is buy and hold for income in which case the yields on resi are generally poor - if its a straight exit for profit they are too late to the party and they'll be selling in say 2024 with interest rates heading up (my view -if only marginally)
3. To get the development funded and buy in the expertise probably means a JV or some sort?

mind you at 60p -will someone who knows what they are doing take a shot at it?

What they've proved they can do is destroy hundreds of millions in shareholders equity.
Do people believe the management have the in house capability to deliver the development pipeline?
Ghhghh might be better to have waited till after the capital markets day because Every time they say anything the market price tanks. After they explain how their betting the balance sheet on 30% increase in floorspace you'll get it for 60p.
I've been buying more. Assets unsecured/covenant light and decent maturity dates. Residential change of use potential on significant part of portfolio. I'll enjoy the yield until sector returns to favour/BoD generate new value
I would not be surprised if the share price fall today is partly them dumping shares to pay the tax
Another 900,000 share bonus for the executives. Wonder how many they will sell to pay the tax?
Hello gbjbaanb and ghhghh
Like you i think there's some mileage in this estate if the leadership did all the basics right even though town centre high street and shopping centres will change significantly with less retail and lower rents...............but this crew in charge - their track record is grim and are now distracted by pouring millions of the balance sheet into a 30% expansion into town centre retail and resi development.

thank you nickrl for pointing out how long these things take in their hands.

I simply dont buy Liberum forecast - which if you look at it what does it say NAV goes from 131 to 136 by 2024; they think thats a buy rating for real estate! are they kidding ? - must have let the graduate/intern cover for holidays......

It should be 6p divi now and withdraw from development nonsense and focus managing the changes in the sector across the portolio which will also have significant localised impact.

I was being sarcastic. Pathetic exposure of directors to company equity.
He was given 10k as options and sold 4k to pay the tax, so 6k shares for nothing. Why would you think this is a story?
OMG. Will Hobman has acquired 4k worth of shares. Huge vote of confidence in NRR.....
ghhghh that is a reasonable view and one NRR has espoused over several years before Covid car crash came along but yet to crystallise it. Lets take Burgess Hill had planning approval way back in 2016 they found a partner for the resi element in 2017 yet here we are none the wiser when its going to happen. Oh and to make matters worse it will now cost more with the escalation in construction pricing and take longer to complete due to their prevarication. Then we have Grays another development that consumed many slides of their powerpoint presentations still stuck in the sidings.

Lets see what the capital markets day tells us.

WFH and On Line means that town centres will be increasingly dominated by residential. Where I live a developer is attempting to change planning from retail/residential to residential. Existing retail and offices are being converted to residential. Those residents will want to shop, eat, drink etc and will want any excuse to leave their apartments.

Hence roll on a few years and remaining limited retail space will be in high demand.

Plus the emphasis will be buy local rather than clog up town centres with delivery vans.

It might have zero high st exposure but majority of its shopping centres are in town centres so local rental tone has a deleterious effect on everything over time. High Streets don't carry the service charge baggage either.
They have the retail parks which is good but last reports and accounts had three of those classified for sale but nothing has materialised so hopefully they've realised that isn't necessarily a good move nor is selling out to Bravo JV.

Fenners, your analogy is poor. No retail outlet is going to move to the high street unless the rent is significantly cheaper and the footfall is as great as their current locations. It costs a lot to relocate, plus the cost of advertising add telling customers where to go now, etc. It's a huge cost. Your be better off considering new entrants, where will Lidl set up their next store etc

Fyi NRR has zero high street exposure.

I expect the high street to disappear soon enough, turned into housing ("for refugees" no doubt) with the odd coffee shop. The impact on the bookies, estate agents and charity shops will be significant and they are likely to relocate to corners of the shopping centres out of town - making NRRs portfolio even more in demand! And obviously that means more shoppers will go to these places rather than wander aimlessly around the old high streets. Increased footfall means more rent.

Shopping will not be replaced with online, there will always be people who need something now, or want to prod it with their sticky fingers first, or "click and collect" on their way home from work whilst picking up some milk from metro supermarkets that will end up co-locating there too.

NRR is unloved because the sector is, bit that doesn't mean they're not positioned correctly on it.

The loss of the pubs will make me re-evaluate my position (which had been good so far, though I did buy for the dividend) but I'm not convinced it's a basket case of doom at all. If any of the retail reits are going to do well one the dust settles, then I think NRR is probably the best one.

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