Urban Logistics Reit Dividends - SHED

Urban Logistics Reit Dividends - SHED

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Stock Name Stock Symbol Market Stock Type
Urban Logistics Reit Plc SHED London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.75 0.44% 171.00 09:43:22
Open Price Low Price High Price Close Price Previous Close
170.25 170.25 172.75 171.00 170.25
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Industry Sector

Urban Logistics Reit SHED Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

dhoult12: If you look whats happening in the likes of BBOX, which has the benefit of increased size, liquidity and institutional investors then wholly reasonable. Not sure we are quite there yet but if this moves to the main list from aim as stated in the accounts as a medium term target, i would hope for a decent uplift. Particularly if they went for a qrly divi model at the same time.
cwa1: https://www.investegate.co.uk/urban-logistics-reit--shed-/rns/result-of-placing-and-primarybid-offer/202107091519148081E/ The Placing was materially oversubscribed above the £108 million target and a scaling back exercise in respect of the Placing was therefore carried out. A total of 65,870,766 Placing Shares (c.£102.1 million) in the Company have been conditionally placed by Singer Capital Markets, Panmure Gordon and Alvarium (the "Joint Bookrunners") with new and existing investors at an Issue Price of 155 pence per Ordinary Share. In addition, taking into account the strong demand from retail investors in the PrimaryBid Offer, a total of 4,000,000 PrimaryBid Shares (£6.2 million) in the Company have been conditionally placed by PrimaryBid at the Issue Price, being the maximum number of shares available in the PrimaryBid Offer. The Company values its retail investor base and welcomes 116 existing and 395 new shareholders who have invested via PrimaryBid in the PrimaryBid Offer.
clever: When Warehouse REIT did the placing in February, it managed to raise all fund within half a day. SHED will probably be able to raise the target funds well before the bookbuilding deadline.
jonwig: Equity raise at 155p to get £108m: https://www.investegate.co.uk/urban-logistics-reit--shed-/rns/proposed-equity-raise-to-raise-c.-108-million/202106300700065608D/ Also Primary bid element.
nimbo1: Strong demand for shed shares in the auctions today - haven't seen that before I don't think. may not mean much but seems to be decent demand from a largish buyer anyway.
jbarcroftr: Shed have a good record of active portfolio management made easier by their policy of buying single units .
nimbo1: I suppose given the size of the purchases last year to get the NAV increase the pre 2020 portfolio actually increased in value by c.30% and then the new assets clearly were a drag - doubling the size of SHED in 12 months. At the moment the price is almost @ nav if you factor in the dividend payment we are about to receive. So with WHR on a 12% premium and BBOX on an 18% premium there are grounds for the price here being on a higher premium... however balancing that against the stated aim to raise more capital - which I hope can be done at a small premium to NAV given the weight of demand of capital in this sector. It should be a relatively safe home for some lower risk capital.
nimbo1: Same here - I've preferred SHED over WHR because knowing the management at WHR preferred SHED's more focussed approach with asset management and track record of value creation... but WHR has outperformed it by quite some margin on a 12 month basis (So I was wrong so far!) and now sits on a 10%+ NAV premium... I'd like also like to see shed sets traded.
killing_time: WHR had a nice jump up in NAV, Should be good news for SHED results in a few weeks time.
skinny: GBP22m of Acquisitions and Rent Collection Update. Urban Logistics, (AIM: SHED) the specialist UK logistics REIT, announces the acquisition of two assets for a total consideration of GBP21.7 million at a 6.14% NIY. Richard Moffitt, Chief Executive, commented: "We are delighted to announce the acquisition of these high-quality assets in Warrington and Edinburgh which are well positioned to deliver essential goods that "last mile" to customers and businesses in two important local markets. In line with our strategic focus of value enhancement, both assets offer asset management opportunities in the short to medium term given the low passing rents." The Acquisitions Warrington On 6 April 2021, the Company acquired a well-specified and recently refurbished 110,859 sq ft distribution unit for GBP8.5 million at a 6.05% NIY. It is let to Mark Thompson Transport, part of Kinaxia Logistics, for a term of 10 years through to 2030. The rent is GBP4.94 per sq ft and there is an open market rent review in 2025. This asset is close to the arterial M6/M56 interchange. Edinburgh The Company has exchanged contracts on an asset in Milton Link, Edinburgh. The 7-acre site comprises a 75,478 sq ft warehouse, which trades as 'The Range', and a 'drive-through' of 1,845 sq ft let to Costa Coffee. The asset is to be purchased for GBP13.2 million at a 6.2% NIY and is located 5km east of Edinburgh city centre. The rent for the warehouse is GBP10.51 per sq ft and is let through to 2033 with 5 yearly rent reviews. The 'drive-through' rent is GBP40.65 per sq ft and the building is let through to 2034. This asset has reversionary long-term income and asset management potential. Rent Collection Update The Company has received 99% of rent due for the quarter to June. The remaining 1% is expected to be collected imminently. M1 Agency Fees The Company has incurred, on an arm's length and commercial basis, property agency fees from M1 Agency LLP of GBP85,000 for the Warrington acquisition. M1 Agency LLP is a partnership in which Richard Moffitt is a designated member. In accordance with Rule 16 of the AIM Rules, fees payable in respect of the acquisition have been aggregated with all fees paid to M1 Agency LLP since 1 March, being the date of the Company's last related party disclosure and associated fairness opinion, in respect of M1 Agency LLP. These aggregated fees total GBP511,000 and are considered a related party transaction for the purposes of the AIM Rules. The independent Directors, having consulted with N+1 Singer Advisory LLP, consider the terms of the related party transaction fair and reasonable insofar as the Company's shareholders are concerned. - Ends -
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