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NRR Newriver Reit Plc

0.00 (0.00%)
17 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
  0.00 0.00% 74.70 74.00 74.70 74.80 73.00 73.00 3,397,538 16:35:05
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust 73.6M -16.8M -0.0537 -13.78 231.33M
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 74.70p. 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 £231.33 million. Newriver Reit has a price to earnings ratio (PE ratio) of -13.78.

Newriver Reit Share Discussion Threads

Showing 4226 to 4246 of 4325 messages
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Bottom line is on a comparable basis the ie just the retail its a good turnaround but id say that hitting 7p for the year isn't a done deal. On top of the insurance claim they also have benefit from reducing provisions on unpaid rent so this won't get repeated in the 2nd half. Also lurking in there is the Wilko risk of failure (2% of rent) and given they are low cost operator infers other retailers are feeling the heat so rental growth from here is pretty unlikely over next 18mths. However, they will have income from new asset mgt initiative and even money on deposit on short term deposit should make them a few quid back but remember all the debt is drawn so you could question whether they should be looking at options to repay some of it.
SO 7p is certainly possible but not guaranteed if they stick to teh 80% UFFO policy.

Last year's H1 dividend included a contribution from the pub business Hawthorns. This was disposed of last year.

Unfortunately, there was no dividend catch-up. The dividend policy announced in June 2021 was that they would pay out 80% of UFFO. The dividend corresponding to the period ending 30/09/21 was 4.1p which follows the policy. The new dividend announced today of 3.5p follows the same calculation. The unfortunate thing is that the UFFO has dropped from 5.5p in Sep 2021 to 4.4p in Sep 2022. All data taken from:

Dividend policy:

2021 UFFO and interim dividend:

2022 UFFO and interim dividend:

Look at the chart can move 10p on a good day.
I bought at 56p when everyone was screaming the end of the high street, retail and people going outside their homes ever again. So I think I'm at 12 or 13%. Feels good to buy when everyone else is fearful.

Now, lets see about those Russian funds...


No that was a catch up dividend not 6 months

I am estimating that the final will also be 3.5p giving a total of 7p and a 10% yield near as damn it. It will grow from that base.
lord gnome
Splitting hairs maybe but I reckon underlying yield is about 9%. There was an exceptional car parks insurance claim of £1.4M in the 6 month period. Discount 46.5%.
The dividend announced in December 2021 was 4.1p, so they effectively cut the dividend.
NRR results read well, with tenants mainly robust lower price end B&M, TK Maxx, Aldi etc. occupancy excellent & since large writedowns in Assets, in previous years, NAV unlikely to fall much. Management Income rising added a few % to EPS in future years. As a REIT forced to distribute 90%, Rental EPS a nice problem if an investor. I would like to buy but short of cash at moment. Fill your boots 10% yield.
Oh, I missed out the near 10% yield.
lord gnome
Pleased with those numbers. Very pleased with the way the company is currently set up. Reasonable LTV. No funding required until 28. Low and secure interest rates. High occupancy and the rents are being paid. Big, very big discount to NAV.I think I have talked myself into buying more. If only I had some spare cash.
lord gnome
"strong", if on a relative basis! But pretty decent nonetheless considering the stock's valuation.

Dividend run rate of 7p at 1.25x cover. £95mn cash implies an adjusted discount rising to 60% (from about 45% unadjusted). 60% discount on their property (recession-resistant) is riddled with fear.

They have a heck of a lot of cash relative to market cap, which at the very least, will earn them 3.5% pa over the coming months (post next BoE raise on Dec 15th).

Strong set of results imo. NAV 133p. 3.5p interim dividend.
17 Nov 22

NRR NewRiver REIT+ (NRR, House Stock, 71p) New operational management agreement signed NewRiver REIT, a leading real estate group focused on essential and convenience retail, has announced it has been appointed to manage a retail portfolio of 16 retail parks and one shopping e based on the rental income of the portfolio, while no capital is to be committed by NewRiver. The investor, fees and locations have not been disclosed. Following on from the addition of The Moor, Sheffield last year and the expansion of the asset management agreement with Canterbury City Council for Whitefriars Shopping Centre, we see this larger portfolio in a capital light manner. Furthemore, it is consistent with NewRivers medium term target to generate £3-5m of annual management fee income. Although no financials were disclosed (we estimate less than £1m based on its own portfolio), we expect the incremental income from this income stream to be modestly accretive to FFO and, over time, help to narrow the discount to NAV.

NewRiver is set to issue issue interim results for the six months to September on Thursday 24th November. The Q1 update highlighted further underlying progress and we were encouraged by recent commentary from Land Securities and British Land on the resilience of shopping centres and retail parks during the period. NAV based on the March 2022 valuation stands at c133p per share and we forecast a FY23F dividend of 6p per share. At 72p per share, NewRiver trades at 0.5x historic book value, with a dividend yield of 8.4% (80% payout ratio). With the ongoing repositioning of the estate towards resilient retail, we see NewRiver as well positioned in an uncertain sector, with starting property yields high, a broad and diverse tenant base focused on the value end of retail and balance sheet metrics improving, with the March 2022 LTV at 34%

17 November 2022

NewRiver REIT plc

("NewRiver" or the "Company" or the "Group")

New operational management agreement signed

NewRiver is pleased to announce that it has been appointed by a leading real estate investor to manage a retail portfolio including 16 retail parks and one shopping centre in the UK.

The appointment for a term of three years will include leasing and property management responsibilities in return for a fee calculated with reference to the rental income of the portfolio. NewRiver will not be required to commit any capital under this agreement.

The appointment is aligned with NewRiver's strategic aim to use its specialist retail platform to enhance earnings in a capital light way by working in partnership with institutions and other capital providers. It follows the expansion and extension of the Canterbury City Council asset management agreement for Whitefriars Shopping Centre and The Riverside, and the addition of The Moor, Sheffield, to the Joint Venture with BRAVO during the last financial year.

This additional portfolio comprising predominately retail parks has an occupier profile aligned with NewRiver's portfolio and increases its retail parks under management to 31.

Allan Lockhart, Chief Executive of NewRiver, said: "We are delighted to be selected as an operating partner to manage this portfolio of resilient retail assets . In doing so, we have achieved another milestone in our strategic focus to expand our capital partnerships and enhance recurring revenue streams in a capital light way. NewRiver's selection demonstrates our unique combination of scale, expertise, relationships and governance, which means we are well placed to provide best-in-class management expertise."

Positive update from Hammersons today.
Interesting comments in the CT Property trading update today where valuers have taken a red pen to much of the portfolio:

"The Company’s high street retail holdings saw a relatively limited valuation decline of 1.0 per cent over the quarter as an already attractive yield profile was supported by a number of leasing successes, maintaining near-full occupation."

@huge if they had shifted anything im sure we would have had an RNS and suspect changed mkt circumstances over last qtr have stalled them whilst new price agreed.
CREI announced profit on a shopping centre disposal today,

Still waiting a progress update on the work out shopping centres disposals. This is what they announced on 26th July;

"90% of planned Work Out asset disposals currently under offer at pricing consistent with March 2022 valuations..."

So hopefully they have completed on at least some of these. 24th November is date for preliminary results on their website albeit they say this is provisional.

Agree I don't see NRR properties falling in value by too much. I think most of the damage was done during covid. The LTV covenants are at 50% so NRR have plenty of cover. Goldman Sachs is predicting a 15%-20% fall for UK commercial property over the next few years. If values did drop 20% then LTV would only be 42.5%.
Chat Pages: 173  172  171  170  169  168  167  166  165  164  163  162  Older

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