Share Name Share Symbol Market Type Share ISIN Share Description
Urban Logistics Reit Plc LSE:SHED London Ordinary Share GB00BYV8MN78 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  4.00 2.47% 166.00 825,296 16:35:02
Bid Price Offer Price High Price Low Price Open Price
164.00 166.00 165.00 162.00 162.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 24.18 47.60 21.72 7.6 423
Last Trade Time Trade Type Trade Size Trade Price Currency
17:07:33 O 100,000 165.50 GBX

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Date Time Title Posts
14/6/202110:25Urban Logistics REIT338

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Urban Logistics Reit Daily Update: Urban Logistics Reit Plc is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker SHED. The last closing price for Urban Logistics Reit was 162p.
Urban Logistics Reit Plc has a 4 week average price of 149p and a 12 week average price of 147p.
The 1 year high share price is 165p while the 1 year low share price is currently 135.50p.
There are currently 255,045,821 shares in issue and the average daily traded volume is 457,341 shares. The market capitalisation of Urban Logistics Reit Plc is £423,376,062.86.
williamcooper104: Under US GAAP they would be forced to and that would show in the GAAP numbers but that's usually ignored - FFO and AFFO are non-GAAP industry standards The values are implied from the share price and FFO yields and that's compared to private market transactions - that's often looked at - usually to see if the REIT is trading at a premium and thus has a cost of capital advantage over private markets US REITs have on most time measures either kept to or outperformed the S&P (itself a better performer than any U.K. index) Whereas U.K. REITs have under performed the underperforming FTSE
dhoult12: Isn't that dangerous when you falling values, thinking shopping malls here... surely they are forced to revalue in those circumstances and take the loss to the P&L (if goes below purchase price) through the accounting rules?
kristini2: This looks interesting, anyone know the NAV premium to price at the mo?
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 -
winsome: The placing didn't quite raise enough to meet their target. Am I right to assume the Institutional offer is not at a fixed share price and the institutions can make their own bids? If so then I'd expect SHED have to sell large blocks below 139p per share given they missed their placing target. Those institutional buyers will then dump them on the market for a few pence more than their buy price, so could drive the share price down to 139p or less in October.
Urban Logistics Reit share price data is direct from the London Stock Exchange
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