Newriver Reit Share Discussion Threads

[lord gnome] 18/1/2023 14:37

Brisk trading again today. Someone is buying in 100k lots and driving up the share price. Long may it continue.

[gbjbaanb] 17/1/2023 15:00

Oh lord, I'm going to need a lie down after seeing the size of that appear in my account.

[janekane] 17/1/2023 14:42

Divi payment today i

[orchestralis] 16/1/2023 14:44

Divi payment tomorrow I think

[oapknob1] 06/1/2023 16:59

Is the rise before script allocation ?

[cwa1] 13/12/2022 07:41

13 December 2022

NewRiver REIT plc

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

Fitch Affirms NewRiver REIT plc's Investment Grade Credit Ratings

Fitch Ratings ('Fitch') has affirmed NewRiver REIT plc's Long-Term Issuer Default Rating (IDR) at 'BBB' with a Stable Outlook, senior unsecured rating at 'BBB+' and Short-Term IDR at 'F2'. The senior unsecured rating applies to NewRiver's GBP300 million unsecured bond dated 2028.

This rating follows the recent publication of NewRiver's results for the six months ended 30 September 2022 which demonstrated continued operational resilience and balance sheet strength, with Loan to Value reduced to 33.8%, interest cover improved to 3.9x, Net Debt to EBITDA consistently low at 5.1x, interest costs fixed at 3.5%, no refinancing requirement until 2028, GBP95 million of cash and further available liquidity of GBP125 million.

Will Hobman, Chief Financial Officer commented: "In the affirmation of our investment grade credit ratings, Fitch has again recognised NewRiver's differentiated position in the UK retail market, focused on providing essential goods and services to consumers on rental terms affordable to retailers. This focus on resilient retail, alongside our best in class operating platform and the strength of our balance sheet, means we feel well positioned despite the challenging backdrop."

[oapknob1] 06/12/2022 12:56

Are Farringdon Capital Management selling out ?

[blackbear] 03/12/2022 12:42

could return to pre covid levels 200-300p in a few years.

[cwa1] 29/11/2022 16:20

The Company announces that it was notified of the following transactions by persons discharging managerial responsibilities:



· On 25 November 2022, Will Hobman, Chief Financial Officer and Director of the Company, exercised 48,865 nil cost share options which were granted in July 2020 under the NewRiver REIT plc Deferred Bonus Plan 2016. 20,597 shares were sold in order to cover the associated tax liability.



· On 29 November 2022, Hollie Hobman, Spouse of Will Hobman, purchased 26,875 ordinary shares of one penny each ("Ordinary Shares") in NewRiver REIT plc at 74.00 pence per Ordinary Share.

[blackbear] 29/11/2022 15:56

probably get taken over for about 150p

[blackbear] 25/11/2022 17:49

10% dividend beats a bank any day.

[mindthestash] 25/11/2022 10:26

It's as good a result as could be expected. I think the share price remaining static indicates most investors se this as managing decline so the yield may not compensate for inflation going fwd.

I'd prefer the management to concentrate on delivering planning and development gains for the moribund shopping centres. Magement fee income is a downside for me as my experience is that managing other people's assets is a distraction and involves too much overheads cost and time commitment in order to get up to speed. Overall looks like a solid business in a declining sector but upside looks good for redevelopment value to compensate for rent under inflation.

[nickrl] 25/11/2022 09:48

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.

[hugepants] 24/11/2022 13:42

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

[feddie] 24/11/2022 13:22

@marksp2011

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:

[blackbear] 24/11/2022 11:56

Look at the chart can move 10p on a good day.

[gbjbaanb] 24/11/2022 11:49

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...

[marksp2011] 24/11/2022 11:49

@Feddie

No that was a catch up dividend not 6 months

[lord gnome] 24/11/2022 11:44

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.

[hugepants] 24/11/2022 11:40

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%.

[feddie] 24/11/2022 10:54

The dividend announced in December 2021 was 4.1p, so they effectively cut the dividend.

[giltedge1] 24/11/2022 10:38

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.

[lord gnome] 24/11/2022 09:53

Oh, I missed out the near 10% yield.

[lord gnome] 24/11/2022 09:52

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.