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NRR Newriver Reit Plc

72.30
-0.80 (-1.09%)
24 May 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
  -0.80 -1.09% 72.30 71.80 72.80 73.00 72.00 72.00 537,788 16:35:09
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust 73.6M -16.8M -0.0537 -13.52 226.95M
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 73.10p. Over the last year, Newriver Reit shares have traded in a share price range of 71.00p to 92.00p.

Newriver Reit currently has 312,603,487 shares in issue. The market capitalisation of Newriver Reit is £226.95 million. Newriver Reit has a price to earnings ratio (PE ratio) of -13.52.

Newriver Reit Share Discussion Threads

Showing 4001 to 4023 of 4325 messages
Chat Pages: Latest  161  160  159  158  157  156  155  154  153  152  151  150  Older
DateSubjectAuthorDiscuss
25/11/2021
10:06
A bit cheeky including the Hawthorn contribution in the UFFO - this will obviously drop out and cut this figure by half so hardly underlying. Also slightly concerned over the level of the property operating and admin expenses which effectively eat up half of the rent. The portfolio may yield around 9% but half of that goes in expenses! Took the opportunity to sell out after this rise.
riverman77
25/11/2021
10:00
Huge my take had been 2p divi but nav around 135-140 so got that wrong way round divi was up more and nav was down more. In part though UFFO does have a Hawthorn contribution that will drop out in 2nd half and that in itself was also flattered by an insurance claim. That said there will be a lower finance costs following Hawthorn disposal which will neutralise that and if covid recover in rents continues they ought to be able to pay another 4p in H2.
nickrl
25/11/2021
09:17
Great results. I don't think anyone expected a 4.1p interim dividend.
hugepants
25/11/2021
08:50
Fly fisher - almost certainly a JV partner. That project would be too big for then imv.
lord gnome
25/11/2021
08:47
finally management back on right strategy. KISS 'manage up' the assets and pay the divi.
mindthestash
25/11/2021
08:36
Re, Cowley and Burgess hill planning consents.

The 465,000 sq ft scheme will have reduced retail, 142 residential units, a 63-bed Travelodge hotel, a 10-screen Cineworld cinema and bowling alley.

The 236,000 sq ft scheme will include 226 residential units, a 71-bed Travelodge hotel and two restaurants.

Is it likely that nrr will develop them or will they be seeking a j/v partner?

flyfisher
25/11/2021
08:07
In at the bell for my purchase. Very happy. Lots of buyers coming in and while there will be a lot of stale bulls selling in to strength, I think this will be a watershed moment. Onwards and upwards from here.
lord gnome
25/11/2021
07:29
NAV at 131p is slightly less than the 140 I was looking for but still provides a wide safety margin with the shares at 75p. I can see these returning to 100p in short order.
lord gnome
25/11/2021
07:15
4.1p interim dividend! Better than I dared to hope for. Looks a much better investment now. I will be adding a few more today.
lord gnome
25/11/2021
07:07
ebuilding earnings with a significantly strengthened balance sheet

Allan Lockhart, Chief Executive commented: "We are pleased to report that in the first half of FY22 our operational and financial metrics have improved significantly. Underlying Funds From Operations have increased by 67% and we have declared an interim dividend of 4.1 pence which compares favourably to the 3.0 pence per share paid in respect of the entire FY21. We have strengthened our balance sheet with LTV reduced from 51% at year end to 39% as a result of stabilising valuations and GBP236 million of disposals in the first half, including the disposal of Hawthorn. Following GBP335 million of debt repayment during the period we currently have no refinancing obligations on drawn debt until March 2028.

We have sustained the resilient operational performance achieved during the pandemic. Rent collection is moving to a normalised position and we have maintained our leasing momentum with average pricing exceeding valuers' ERVs over the last twelve months.

We end the first half of the year in a stronger position and, with the benefit of an improving market backdrop and our clear strategic plan, we are well positioned to achieve our medium term target of a consistent 10% total accounting return."

EPRA NTA per share down 13% to 131p; 11p reduction as a result of Hawthorn disposal

cwa1
24/11/2021
21:22
If we're heading in the right direction with nrr then uffox80% should give an int divi circa 3p. Its the only reason I'm holding. If not they don't think they are through the bottom then I'm out. They have no direction otherwise.
mindthestash
24/11/2021
21:22
If we're heading in the right direction with nrr then uffox80% should give an int divi circa 3p. Its the only reason I'm holding. If not they don't think they are through the bottom then I'm out. They have no direction otherwise.
mindthestash
24/11/2021
21:16
Seeing as Hawthorn didn't provide much of a contribution in FY21 results its not unreasonable to forecast that 3p is sustainable over this year again from UFFO. Rental income ought to have improved as despite moratorium which retailers have been exploiting we've seen a number of those, who are clearly able to, have payed up voluntarily so income may get flattered from that as well. My forecast is NAV in 135-140 window.
nickrl
24/11/2021
17:51
The policy on future dividends was clearly stated in the statement on 3 June
grahamburn
24/11/2021
17:21
Rather looking forward to tomorrow's numbers. Hoping / expecting the restoration of an interim dividend. Another 3p isn't too much to expect. Hoping for clarification on future dividends and if we get it I shall immediately add to my position. Confirmation of NAV at around 140p would also help.
lord gnome
15/11/2021
21:50
According to p27 of the 2021 full year presentation lettings/renewals 1.15m sqft for 6.5m income. That's around 5.65 per square ft. Less than half of the previous year average rent of 12.66 per square ft.
bondholder
15/11/2021
16:32
Yep declining still although NRR say not by much more. Thing about the likes of Next is they are often seen as anchor tenants. If they leave the centre may become unviable which means they have a lot of bargaining power. I think it was Sports Direct (or maybe Frasers) who were arguing with Intu that they shouldn't be paying any rent!
hugepants
15/11/2021
14:09
HP I'd be more concerned with rental income than short term valuation estimates. In 2020 average retail rents for the co were 12.66psf. By 2021 that had dropped to 11.51psf. Around 9 percent decline. Assuming a four year average review cycle that suggests a 30/40 percent decline in rents as leases come up to expiry. This looks unsurprising based on outcome of the Next plc rental negotiations.
bondholder
11/11/2021
12:44
I don't expect Next to be the typical profile of an NRR tenant.
Shopping centre valuations have been falling for years. How much lower can they go!
fyi retail parks are rising in value by 5%+ per quarter now.

1st Oct 2021

"..In the shopping centre sector, Lockhart says valuations are close to stabilising. Indicative valuations for its shopping centre portfolio at September 2021 endorse this view, he states, as does market evidence that transactions levels are comparable to 2015 (by volume if not value).

The group’s retail portfolio values fell by 9.4% in the first half of its 2021 financial year (March – September 2020), and then again by 6.1% in the second half (September 2020 – March 2021). It forecasts a circa 3% fall in the six months to September 2021 – but mainly from its ‘work out’ shopping centre portfolio, which it said it would dispose of by 2023.."

hugepants
11/11/2021
11:56
Minus 58 percent is not a typo
bondholder
11/11/2021
11:55
    Managing our occupancy costs down to levels that can be supported by Retail sales.  Last year 80 leases expired; we closed 18 branches and renegotiated rents in 62 stores, achieving an average reduction in rent of -58%.Next PLC 2021 results.
bondholder
11/11/2021
08:17
Been sitting on the sidelines but positive news from M&S and Pets at home must be indicative of shed retailing doing better than we all expected.

The shopping centres are still a worry but glad the pub disaster is behind them.

vow
22/10/2021
16:13
Thanks HP and bondholders.
My guess is Suburbs and out of town sheds have a future, changes of use around most Town centre retail mean negative for me.

When planners say 'quality' what does it mean. It might mean they don't like it but can't find a reason in planning terms to refuse. Who knows? Resi is a different game and appeal/CIL negotiation always take forever.

mindthestash
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