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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Prs Reit (the) Plc | LSE:PRSR | London | Ordinary Share | GB00BF01NH51 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 2.40 | 2.33% | 105.60 | 481,968 | 16:35:01 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 104.60 | 105.20 | 105.20 | 103.60 | 104.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Real Estate Investment Trust | 58.43M | 93.68M | 0.1706 | 6.17 | 566.83M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:44:53 | O | 75,000 | 105.168 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 03/12/2024 | 15:20 | UK RNS | BlackRock Group Form 8.3 - PRS REIT plc |
| 03/12/2024 | 14:09 | UK RNS | Aviva PLC Form 8.3 - PRS REIT PLC (THE) |
| 03/12/2024 | 11:04 | UK RNS | DWS Investments UK Limited Form 8.3 - PRS REIT plc, The |
| 03/12/2024 | 07:00 | UK RNS | PRS REIT PLC (The) Update on Strategic Review and Formal Sale Process |
| 02/12/2024 | 15:22 | UK RNS | Liontrust Asset Management PLC Form 8.3 - The PRS REIT PLC |
| 02/12/2024 | 15:20 | UK RNS | BlackRock Group Form 8.3 - PRS REIT plc |
| 02/12/2024 | 13:31 | UK RNS | Waverton Investment Management Ltd Form 8.3 - PRS REIT Ord |
| 02/12/2024 | 10:44 | UK RNS | DWS Investments UK Limited Form 8.3 - PRS REIT plc, The |
| 02/12/2024 | 10:31 | UK RNS | Singer Capital Markets Sec Ltd Form 8.5 (EPT/RI) |
| 02/12/2024 | 07:35 | UK RNS | PRS REIT PLC (The) Director Declaration |
Prs Reit (PRSR) Share Charts1 Year Prs Reit Chart |
|
1 Month Prs Reit Chart |
Intraday Prs Reit Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 03/12/2024 | 12:05 | :::: The PRS REIT :::: | 328 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 16:52:28 | 105.17 | 75,000 | 78,876.00 | O |
| 16:44:54 | 103.80 | 25,000 | 25,950.00 | O |
| 16:35:01 | 105.60 | 129,148 | 136,380.29 | UT |
| 16:29:55 | 105.20 | 4 | 4.21 | AT |
| 16:29:31 | 105.20 | 34 | 35.77 | AT |
| Top Posts |
|---|
Posted at 03/12/2024 08:20 by Prs Reit Daily Update Prs Reit (the) Plc is listed in the Real Estate Investment Trust sector of the London Stock Exchange with ticker PRSR. The last closing price for Prs Reit was 103.20p.Prs Reit currently has 549,251,458 shares in issue. The market capitalisation of Prs Reit is £577,812,534. Prs Reit has a price to earnings ratio (PE ratio) of 6.17. This morning PRSR shares opened at 104p |
Posted at 11/11/2024 12:25 by nexusltd Amendment to Investment Advisory Agreement."Under the terms of the Amendment, in the event of a change of control of the Company, both the Company and the Investment Adviser have the right to serve notice to terminate the Agreement on 12 months' notice." Might reduce potential takeover costs; enabling a fuller price to be offered. |
Posted at 09/10/2024 20:37 by pdosullivan In the statement PRSR says the end June figure was higher due to the year end falling on a weekend hence the fall in arrears from GBP1.7m at end-June to GBP1.3m at end-July. |
Posted at 06/9/2024 10:37 by smithers1 Looking forward to a shake up here and change of manager. Many obvious management mistakes by management – both Sigma and Board - and issues with fee structure:-As previously noted taking £102m of debt at 6.04% in July last year was an obvious mistake and dilutive as the properties yield less than that after allowing for maintenance and property management costs (not to mention the investment management fee). It's fixed for 15 years so paying that off early will be expensive. Sigma and the Board keep referring to the total blended debt interest cost but the last tranche of debt should not have been taken. When PRS REIT secured long term fixed debt tranches at 2.76% and 3.14% it was accretive but with these properties throwing off net income yields of 4-5% debt at 6/7/8% is dilutive. -Manager allowed to charge 1% fee p.a. throughout development phase so most of this in the early years was charged on unspent cash. In addition a high 4% development management fee was charged on Development costs so on certain tranches of money Sigma received 5%. Development contracts were fixed price Design & Build with substantial housebuilders so 4% development management fee excessive and unjustified – industry norm. 2%. This fee was not renegotiated in the recent management contract extension. -Clear conflicts of interest with Sigma selling its own completed sites to the PRS REIT, on one hand acting as seller but on the other representing the PRS REIT as buyer. Relationship with the “independent&# -Initial £250m raised in June 2017. Prospectus stated: “Upon full investment of the capital and associated gearing the Company is targeting a dividend yield of 6 per cent. or more per annum based on the Issue Price, which the Company expects to increase broadly in line with inflation. The Directors will seek to maintain the dividend over the long term. In addition, the Company is targeting a net total Shareholder return of 10 per cent. or more per annum based on the Issue Price at stabilisation of the PRS Portfolio. It is anticipated that the Company will reach stabilisation by the third anniversary of First Admission.” 6% dividend!!!! 7 years in and they still do not have a fully covered 4% dividend against issue price (never mind 6%) despite reported strong rental growth over the intervening years, high occupancy and low maintenance costs. On that benchmark Sigma have failed miserably and yet no explanation has ever been given. -Second £250m raised in Feb 2018 far too early after the initial raise. Clear asset gathering by Sigma to boost investment management fee which as noted previously was charged on unspent cash. Why was this allowed to happen? 7 years in since initial launch the proceeds raised with associated investment debt are still not fully deployed. -Sigma outsource the day to day property management and rent collection to a third party with those costs charged directly to the REIT. Long term debt is in place. Their role is now reduced to overseeing the property management company and reporting. In that context a 1% annual management fee is simply not justifiable and the recent extension of their contract on broadly these terms was not acceptable. The underlying fundamentals for this REIT are extremely strong: a granular income spread across thousands of Tenants across the whole country that makes it extremely robust unlike commercial where the loss of a few large Tenants can significantly impact total rental collection; obsolescence less of an issue unlike commercial; annual rent increases. Unfortunately it has been mismanaged and milked by Sigma since inception. I welcome the long overdue overhaul and the positive impact this should have for shareholders. |
Posted at 30/8/2024 09:25 by asagi did any else have a problem with their dividend this morning? My payment includes only the ordinary distribution, the PID element is not there.Asagi (long PRSR) |
Posted at 19/7/2024 13:32 by arbus5000 if PRSR and other reits are allowed to re-invest all their cash, expect precipitous drops in their share prices due to dividend cuts.PRS was able to raise capital via share and debt issuance, and picked up c5,000 houses no where near the top of the market. According to its recent RNS, it has a low LTV, with fixed rates at a low level - so it financed at a great time. It bogles the mind though, how the investment case for PRS has any relevevance in the judgement of the viability of the REIT regime. I suggest you keep your opinions on a dedicated thread. RGL has done well, thanks - it just depends when and where you invested ! |
Posted at 19/7/2024 10:06 by pdosullivan If PRSR was trading at 1x NAV then the dividend yield would be only 3.25pc. You can do a lot better than that sticking your money on deposit. So I don't see 1x NAV as achievable in the short term. This circles back to the comment about the UK REIT regime. If PRSR was investing its cash building homes instead of distributing it would probably deliver more shareholder value over the cycle |
Posted at 09/7/2024 11:30 by davebowler Panmure Liberum -New terms for investment advisory and development management Analyst: Shonil Chande Mkt Cap £426m | Share price 77.5p | Prem/(disc) -37.3% | Div yield 5.2% Event PRS REIT has extended its investment advisory and development management agreements with Sigma PRS Management. Effective from 1 July 2024, these agreements have revised fee structures and have been extended to 30 June 2029. Key changes in agreements Investment Adviser Fees: Adjusted fees now range from 0.30% to 0.90% based on the Adjusted Net Asset Value tiers, promising cost savings for PRS REIT. Development Management Fees: Reduced to 3% on land and 3.5% on construction, payable monthly with a portion used for ordinary shares. Cost Savings: Expected annual savings of approximately £0.4m. |
Posted at 11/4/2024 11:13 by asagi lots of posters making good points but to me the big ones are:. residential rents generally DON'T come down . interest rates are likely to come down in the UK soon it's the hoped for effect on the share price of lower rates that has got me in here. Asagi (long PRSR) |
Posted at 03/4/2024 12:18 by asagi I'm expecting the share price to rise in the coming 18 months as rates fall.couldn't agree more Makinbuks. I'm also a shareholder and the PRS REIT and think it is one of the best plays on the market for interest rates coming down. Asagi (long PRSR) |
Posted at 02/4/2024 22:07 by smithers1 Investors Chronicle states today PRSR speaking to shareholders about an equity raise. Do not see shareholder value in this. Investment Manager self interest looking to increase assets under management.PRSR launched in 2017 targeting a geared 6p dividend. Almost 7 years in dividend is 4p and still not yet fully covered and share price 21p below raise price. Do not see the attractions of equity raise based on track record and current discount to "stated" NAV when can get 5%+ interest on deposit. Given gearing risk and longer term maintenance cost risk I would be looking for 8% min. div. Portfolio should be left to stabilise and investment advisor fees slashed given their role now is limited to overseeing a third party letting / property management company. £6m a year to do that seems excessive |
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