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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Summit Properties Limited | SMTP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.60 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.60 | 0.60 |
| Top Posts |
|---|
Posted at 21/11/2019 09:36 by davebowler Liberum:Real Estate Summit Properties Positive signals from investment market Mkt Cap £500m | Prem/(disc) -35.5% | Div yield 1.5% EventSummit Properties' NAV at 30 September 2019 was 2.03 per per share, representing a 0.9% increase for Q3 and 7.4% to date in 2019. The return was driven by recurring earnings as the portfolio was not revalued in the quarter. Rental income received to date in 2019 is 60.9m, 29% ahead of the same period in the prior year. Funds from operations (FFO) have increased by 28% to 39.6m (9m 2018: 31.m) including 2.3m from residential development profits. This is in line with previous guidance of 51-56m of FFO for 2019. Summit has also reported stable occupancy of 92% across the portfolio (excluding properties held for redevelopment). Summ |
Posted at 16/9/2019 09:11 by davebowler Liberum;M&A activity highlights demand for German commercial property Mkt Cap £489m | Prem/(disc) -40.3% | Div yield n/a Event Funds managed by Blackstone have agreed an all-cash transaction to acquire all of Dream Global REIT's assets and subsidiaries for CAD$6.2bn. The price represents a 9.1% premium to the June 2019 EPRA NAV. Dream Global REIT owns a portfolio of predominantly multi-tenanted office properties with a value of c.€4bn at 30 June 2019. The majority of the portfolio is located in the Top 7 German cities. The portfolio has a vacancy rate of 7.3%, a net initial yield of 4.7% and a weighted average unexpired lease term of 4.8 years. Liberum view The acquisition highlights the strength of investment demand for German commercial property. Total investment volumes for commercial properties in Germany totaled €24bn in H1 2019. This was slightly down on the prior year although is mainly due to a shortage of supply. Investor demand remains high due to positive market fundamentals. Yields for city fringe and secondary locations continue to compress due to a lack of supply of investment properties. In our view, the transaction illustrates the value offer by Summit Properties (40.3% discount to NAV) given the portfolio similarities. |
Posted at 26/4/2019 08:58 by jeff h Yes saw that thanks dave, though the only mention in the results was:-The Company is considering a private placement and listing of shares in Summit Luxco S.à r.l. ("Luxco") on the regulated market of the Frankfurt Stock Exchange (Prime Standard) in 2019, subject to market conditions. Luxco currently is a wholly‐owned subsidiary of Summit and holds all of its German real estate assets, including asset and property management operations. Summit is considering the listing to provide investors with the opportunity to invest in Summit's German real estate business and to facilitate Luxco's growth in Germany through the execution of its existing development pipeline and additional acquisitions of commercial real estate properties. |
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