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NRR Newriver Reit Plc

-0.20 (-0.28%)
18 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
  -0.20 -0.28% 72.30 72.30 72.50 72.60 71.70 72.50 411,882 16:35:15
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust 73.6M -16.8M -0.0537 -13.48 226.32M
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 72.50p. 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 £226.32 million. Newriver Reit has a price to earnings ratio (PE ratio) of -13.48.

Newriver Reit Share Discussion Threads

Showing 4301 to 4324 of 4350 messages
Chat Pages: 174  173  172  171  170  169  168  167  166  165  164  163  Older
RNS on holding change has FIL Limited doubling up from 5% to 10% so guessing someone else has unloaded
Down 6% feels like a bit more than the XD effect. Perhaps the CEOs nice little earners are hard to swallow for some shareholders
i would say cash has a longer duration forever until spent.
RCF duration until expiry

Having cash and having a RCF are two very different things. One has a duration of one day (cash) and the other a duration of whatever is remaining. The value lies in the optionality of use of funds, and in the current market, one either believes in the ability of management to make clever calls on the timing of and specifics of a (some) purchase(s) - or, if one does not have confidence in the management, just do not go anywhere near. Fenner, your constant bleating about it is both repetitive and pompous.

On the issue of P&L, this is nonsense. A lot of ITs have "Alternative Financial Measurements" which are basically at the bottom of 80 page reports. They are both one of the most useful things they publish (pretty well) and in a lot of cases, the most supportive. As the Chairman of Berkshire Hathaway says, read a report from the bottom up!

I have to say that bumping into the P&L with the reported loss took all of 15 seconds. Not that I care as I have repeatedly argued that NAV (absent stress) is for neanderthals. As is becoming more widely (and belatedly) accepted by even the average UK REIT investor (and has been a given for 100% of US investors since a year or two following the Civil War).

I hope I was as clear as you would wish.

I get the mark to market - but their disposals have been at a loss.

I have not read (my fault) but maybe some have , why did they dispose of the profitable JV at a loss?
As mentioned by someone else they already have cash on the balance sheet.

Lockhart is master of spin mind you. Can't see the logic of having such a big RCF (usually comes with a commitment fee) when they have so much cash on hand for what as they are planning more disposals. At least they are getting a few quid on it unlike the idiots at EPIC.

By the way @fenners AEWU didn't even have a P&L in their RNS yesterday said see website but it wasn't on their website at open and still not there at 1000. It is now. SREI did same day before but at least gave a hyperlink to website and had it uploaded for opening.

This one is treading water and disposals are just eroding NRI further now using cash to top up divi which im fine with short term but whats the plan. Im not a buyback fan but perhaps this is best use of at least half the cash now.

Didnt have time to watch presentation so will do a deeper dive over weekend.

The issue with P&L when there is a big mark to market component is that you can get some wild swings in the numbers
Oilers are famous for this as they book "profits" and "losses" on hedging contracts that are neither profits nor losses - just accounting entries

I like to look at how the directors are remunerated given the performance and there is no note on the press release version of the accounts.
Instead the full year actual accounts have a remuneration report which includes ...

"Executive Directors and determined that the
salaries should be increased by 3%. This increase was materially
below the average workforce increase "(5%) "and also recognised that the
CEO's salary had not increased for several years"

Bless not had an increase for several years ....I am almost in tears....

Directors Rem
Allan 2023 - £1,295,657 2022 £ 984,462
Will 2023 - £ 674,918 2022 £399,453

That's the kind of not increased salary I would like too.....

Lord Gnome - so I just looked at the results a bit more.

"Operating" profit is trending down 20m last first half , 14.6m last second half , 14.3 this first half.

Now disposed of joint venture (at a loss?!) which contributed 0.5m in the short period this year - why disposed of?

So they need to find something new as that trend continues perhaps....

As for ignoring the "adjustments" losses on disposals - I get it its not the underlying business...
but its now £49m in 18 months

Its like us saying we are incredible investors because we are collecting 29.6k in dividends whilst writing off 49k in stock losses , surely the point is to make money on both ?

Why would I look at the P&L instead of reading the force fed spin at the top that the Directors want us too?
Same reason I look at every P&L rather than the positive view - it shows what they don't want you to see a lot
of the time.
Page 28
But the reconciliation of loss to UFFO was highlighted at page 16

Funny how they again wanted to concentrate on that before they got to the P&L

Its like asking a child if they have done something and them giving you the all around the houses explanation of
how it wasn't their fault etc before they actually answer...

Even the balance sheet features at p19.

It's not a beef with the results per se - its a beef with the trend at presentation - not just here but a lot of companies - here's the good news , we did fantastic with this, we did great with that , everything gives the impression of being fine , until you get to the P&L and see the losses....

I guess they believe a lot of their audience has not got the attention span to read past what they want us to read - and I am as guilty as the next person at not reading through say an insurance company or banks set of accounts - but I do go to the P&L no matter how far down they hide it.

Why you looking at a pnl on a reit... and it's exactly where it usually is in a set of accounts. And they also state the loss on the front page. Whats your beef
That’s a bit harsh fenners66. The operational position is better than it has been since I first invested here and the company is in a good place. The loss of £2.6 millions is accounted for by negative property revaluations common to every REIT that there is - a situation that has now bottomed out IMHO and should start to correct as interest rates start to come down again next year. The property valuation adjustment was £11.6 millions and it was this that caused the accounting loss. Perhaps it could have been made clearer and given more prominence in the statement.
All in all, at first reading, this is a very positive set of numbers and a very positive statement. Happy to hold.

lord gnome
I always get suspicious when I open a set of results and I cannot find a P&L account without scrolling down an awful long way !

So by the time I found it I was expecting a loss - despite all the positive spin that was added to the start of the RNS.

They must think that if they bury the P&L no one will be bothered to look at it.

So a Loss then.....

Well, results tomorrow and I think we are going to see Corp Action
by the end of next week.

They have a bucket load of cash, (£111M at Full year) long term debt yet, they want an RCF too

Something is happening.

The RCF had nil drawings against at FY23 so you have to wonder why they want such a large facility anyhow especially as it will no doubt be attracting a commitment fee of c 0.7%.
Listening to the British land presentation ... they seem to be quite bullish on the retail parks area of their portfolio ... good place to be in the current market I think
Sadly we're getting used to this sort of ignorance from boards. of all people you'd think and FD might cough up the pertinent figures which he's surely already done for colleagues/board. However it seems i;m just an old crusty as the share price is heading north with the REIT herd despite falls in retail sales and regulatory announcements written in cuddly sound-bites of positivity.............

moan over.

The media didn't seem to know this exists, any article I found about reits talks of a handful of popular ones and this is not in that list!
Very quiet on here recently.

I read today's RNS as very positive. In an era of high interest rates, they say that they have managed to refinance the RCF at lower cost. 'Headline margin' reduced. Unfortunately it doesn't say from what or to what, so we are left guessing.
My best guess is that it has been reduced from extortionate to eye-watering. Whatever, progress is being made. The market seems unimpressed, but no surprise there.

lord gnome
Let's hope Lockhart isn't getting a bonus based on deposited cash
CAL yesterday identified that rent exposure to Wilko was 0.65m in addition if stores got vacated they would also be in for another 0.9m additional store costs. Just used as an example that its not only the rent loss that has to be taken into consideration. That said BM and the supermarket discounters could be interested in many of the sites potnetially.
Almost certainly frazboy but it won’t be a substantial exposure. Wilco doesn’t feature in the top ten tenants, so the maximum risk will be less than 1.5%.
lord gnome
Do NRR have any direct exposure to Wilko, anyone know?
Wasn't sure of the logic of the disposals but as long as they count the 5% income on the cash as part of the FFO im content to hold my position. Unlike my view with EPIC at the time im happy for them to sit on the cash and be ready to move when asset prices become more favourable.
Chat Pages: 174  173  172  171  170  169  168  167  166  165  164  163  Older

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