Newriver Reit Share Discussion Threads

[dartboard1] 04/7/2024 10:22:55

Website shows 7 in the finance/accounting team. They should all be prepping up their CVs ...

[dartboard1] 04/7/2024 10:13:21

Staff cost will be net of the 1m income. And guessing they will do away with some of the support functions. Sounds like they do town centre redevelopment also so not limited to shopping centres.

[nickrl] 04/7/2024 09:54:43

Would like to know what the addressable mkt is for managing shopping centres though given we are shelling out potentially 9m here for 1m income oh and the bill for staff costs is going up as well.

[lord gnome] 04/7/2024 07:52:30

Yes, a good looking bolt on to develop the management capabilities of the company.

[dartboard1] 04/7/2024 07:51:02

Not a bad acquisition today. Will add not an insignificant amount to revenue and earnings. Existing mgmt team seem like they've done a good job building what they have

[nickrl] 21/6/2024 10:31:38

This one just drifting along although I see they want to set up a new JV to invest 200m in retail pks - they should have taken out EPIC. On the face of it metrics look good high occupancy, high retention and exceeding ERV yet overall income per sq ft is slightly down so FFO has fallen. Largely this is down to disposal of the work out assets which are supposedly naff but generate a reasonable out rental income. You can't overlook the 133m on deposit is generating 5.4m and more in a full year as they say its on 5% deposit rate. The development opportunities just solder on burning up cash but with nothing yet cast in stone.

So this has reasonable yield but aint going set the world on fire anytime soon if ever.

[riverman77] 21/6/2024 08:57:04

Dividend is well covered so looks even better value on an earnings yield basis. As ever, the issue is lack of rental growth - new leases only 1.8% increase versus previous rent. Compare this with industrials were you're getting 20-30% increases. On balance would prefer something like SHED - lower yield but much better growth prospects.

[hugepants] 21/6/2024 08:19:21

I thought the shares may be up this morning based on the results which look good.


Still the yield is only 9.1% which used to be quite a lot. 3.2p final dividend.
28% discount to NAV.

[hugepants] 20/6/2024 12:08:14

Results tomorrow

[shauney2] 12/6/2024 22:17:52

August or September going by previoushtTps://www.dividenddata.co.uk/ex-dividend-date-search.py?searchTerm=NRR

[janekane] 12/6/2024 13:18:54

So when is the next divi payment
thanks for any reply

[hugepants] 11/6/2024 19:08:58

The (imminent) final divi announcement should have a positive effect. This outfit only announce bi-annual dividends so it will be significant.

[nickrl] 11/6/2024 17:26:11

This has no debt issues for years to worry about and whilst they are not going to set the world on fire with any growth they are steady as she goes so a bit surprised to see them hammered down. Yield nearly 10% but have enough already.

[mindthestash] 11/6/2024 14:21:24

If it were not for the potential acquisition I'd be buying at these prices. I like the divi policy and positioned well on interest risk for the moment.
They've a lot of duff old shopping centres and they don't seem to be able to navigate planning hell to create development value from them. Interesting to see what progress they've made if any. Labours social housing approach may hinder current development/residual values on these.

[fenners66] 11/6/2024 13:58:12

I have been bearish on NRR for years , so whilst some may have made a profit on the recent spikes , its not much of a surprise to see almost a return to the lows for the last 4 years. Ok not near the lowest point of the last 5 years, but with interest rates remaining sticky and some bad examples of commercial property being sold off for far less than previous - Bloomberg highlighting a 67% reduction on a New York office - not relevant here but sets the backdrop which is enough to spook funds investing in commercial property - I cannot see a pick up in their underlying values.

[hugepants] 11/6/2024 10:48:02

Looking abject here. Breached the key 70p level.Can help thinking the proposed CAL acquisition has knocked several % off the market cap.

[hugepants] 11/6/2024 09:19:41

"We’re delighted to release our FY24 Q4 Trading Update ahead of our Full Year results in early June 2024. "

Yes early June as per the trading update. Has to be this week then.

[nickrl] 10/6/2024 23:23:19

There not going to set the world on fire but decent payout and was covered so wouldn't expect a deterioration come results nor would expect any increase but just keeps sinking lower.

[budd_foxx77] 10/6/2024 17:15:41

The last I heard annual results were due out early in June, haven’t seen an exact date mentioned as yet.

[hugepants] 10/6/2024 13:08:04

Has there been a results date announced? I cant see one although it may be hidden in the middle of all these disclosure RNSs.

[dartboard1] 31/5/2024 07:30:02

Yes. No massive gain for shareholders. Directors will point to synergies for G and A costs, but what they're really after is justification for increased remuneration.

[hugepants] 27/5/2024 23:22:02

"NewRiver expects the combination with Capital & Regional to deliver significant earnings accretion, enabling the Combined Group to pay a materially higher, covered dividend;"

I hope it doesn't go ahead to be honest and, its only a proposal at this stage, but a "materially higher dividend" is at least compensation for a LTV that would probably be back into the 40s.

[nickrl] 23/5/2024 22:40:52

they've got enough workout assets their trying to shift without adding more at a high price

[bdbd11] 23/5/2024 14:39:38

The proposed deal for CAL looks positive. I hold both, so not overly bothered, but I think it is a good fit. The fact that CAl are up 20%, but NRR shares have not fallen is a good sign. Perhaps this is why FIL have been increasing their holding.

[marksp2011] 06/5/2024 15:23:25

It's going to take years to fix the portfolio and fund the regeneration pipeline look back in next yearThey have 4-5 years of cheap debt left the need to get development funding from somewherePaying out less on LTIPs would be good. CEO has been the only winner here