Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to johnstevens77,Bhoddhisatva,scotia,Anonymous,Cornytiv34, for Donating to support the site

the NewRiver REIT (NRR) topic

dealtn
Lemon Half
Posts: 6072
Joined: November 21st, 2016, 4:26 pm
Has thanked: 441 times
Been thanked: 2324 times

Re: the NewRiver REIT (NRR) topic

#326664

Postby dealtn » July 16th, 2020, 6:45 pm

westmoreland9 wrote:
gbjbaanb wrote:
JuanDB wrote:I’ve no intention to sell however I’m afraid the dividend horse has bolted. Yield currently a mighty 0%


Its a REIT, the yield cannot be 0% as they have to pay out 90% as PIDs to be a REIT. They may fiddle this, they may suspend it a bit like the Q4 dividend payment but those are temporary. In a year's time things will be different. That's what you're investing for, not next week.


they are currently forecasting rents down about 35%. their annual revenue is £148m, of which about £120m is rent. so forecast only collecting £83m (assuming the other £28m is fully collected). their operating costs and debt interest come to about £100m.

so that comes to a loss of £17m - so there's nothing to distribute. or if they do distribute anything, it'll just be funded from debt or disposals, so not really 'income'.


I make that a profit of £6m.

65% of £120mio is £78m plus the other £28m, less the £100m costs/interest.

dealtn
Lemon Half
Posts: 6072
Joined: November 21st, 2016, 4:26 pm
Has thanked: 441 times
Been thanked: 2324 times

Re: the NewRiver REIT (NRR) topic

#346103

Postby dealtn » October 8th, 2020, 10:26 am

https://www.investegate.co.uk/newriver- ... 00054446B/

Trading Update.

Interesting news on disposals at 3% discount to March 2020 NPV. Of course we don't know how representative these disposals are, and what the "tail" might look like.

Also interesting the Residential Portfolio news with an increase allocation to residential, and reduction in retail, in the latest planning approval in Burgess Hill. Recognition of the change in demand, and practical change of use, that is likely to be seen across society. The "death of retail" doesn't directly translate to the going out of business of Commercial Landlords.

MDW1954
Lemon Quarter
Posts: 2358
Joined: November 4th, 2016, 8:46 pm
Has thanked: 526 times
Been thanked: 1011 times

Re: the NewRiver REIT (NRR) topic

#346261

Postby MDW1954 » October 8th, 2020, 5:07 pm

Reading the entire RNS, it's quite positive and upbeat.

The shares look oversold, to me. Tempted to top up.

MDW1954

dealtn
Lemon Half
Posts: 6072
Joined: November 21st, 2016, 4:26 pm
Has thanked: 441 times
Been thanked: 2324 times

Re: the NewRiver REIT (NRR) topic

#379250

Postby dealtn » January 21st, 2021, 10:18 am

Latest trading update.

https://www.investegate.co.uk/newriver- ... 00033868M/

Sales continuing at an even greater discount to the March 2020 valuations, though I doubt that's a surprise.

Not one I own, but it seems some here do, so for their benefit.

MDW1954
Lemon Quarter
Posts: 2358
Joined: November 4th, 2016, 8:46 pm
Has thanked: 526 times
Been thanked: 1011 times

Re: the NewRiver REIT (NRR) topic

#404111

Postby MDW1954 » April 14th, 2021, 10:04 am

Another trading update, which has prompted a share price rise this am. Big news: IPO of the Hawthorn community pubs business, and a sharper focus on what they call 'resilient retail'.

https://otp.investis.com/clients/uk/newriver_retail_ltd/rns/regulatory-story.aspx?cid=1683&newsid=1468935

MDW1954

Laughton
Lemon Slice
Posts: 905
Joined: November 6th, 2016, 2:15 pm
Has thanked: 140 times
Been thanked: 330 times

Re: the NewRiver REIT (NRR) topic

#404212

Postby Laughton » April 14th, 2021, 3:25 pm

Hmmm - one problem (for me) is that the pub side of things is what makes NRR so attractive. Whilst it will be nice to have the proceeds I would rather keep the long term potential within NRR or spin off and grant existing shareholders shares in the new entity.

dealtn
Lemon Half
Posts: 6072
Joined: November 21st, 2016, 4:26 pm
Has thanked: 441 times
Been thanked: 2324 times

Re: the NewRiver REIT (NRR) topic

#404225

Postby dealtn » April 14th, 2021, 4:02 pm

Laughton wrote:Hmmm - one problem (for me) is that the pub side of things is what makes NRR so attractive. Whilst it will be nice to have the proceeds I would rather keep the long term potential within NRR or spin off and grant existing shareholders shares in the new entity.


That's a solution, not a problem, surely.

They will IPO the business you are interested in, such that you can invest in the parts you are solely attracted to. You won't have the proceeds, and keep that long term potential. Plus you can divest your investment of the parts that don't attract you.

MDW1954
Lemon Quarter
Posts: 2358
Joined: November 4th, 2016, 8:46 pm
Has thanked: 526 times
Been thanked: 1011 times

Re: the NewRiver REIT (NRR) topic

#405110

Postby MDW1954 » April 18th, 2021, 1:26 pm

Laughton wrote:Hmmm - one problem (for me) is that the pub side of things is what makes NRR so attractive. Whilst it will be nice to have the proceeds I would rather keep the long term potential within NRR or spin off and grant existing shareholders shares in the new entity.


You won't (directly) get the proceeds. NRR proposes investing them in what it calls "resilient retail".

I can see me being interested in the pubs IPO, though.

MDW1954

MDW1954
Lemon Quarter
Posts: 2358
Joined: November 4th, 2016, 8:46 pm
Has thanked: 526 times
Been thanked: 1011 times

Re: the NewRiver REIT (NRR) topic

#430420

Postby MDW1954 » July 26th, 2021, 10:03 am

Not quite the outcome that I'd been expecting. The 674 pubs have been sold in a trade sale, with the proceeds used to pay down debt, and re-set the LTV at a lower level:

https://markets.ft.com/data/announce/detail?dockey=1323-15072165-7A1KL2CB8UU3KGG9M7RK8Q8I0L

MDW1954

dealtn
Lemon Half
Posts: 6072
Joined: November 21st, 2016, 4:26 pm
Has thanked: 441 times
Been thanked: 2324 times

Re: the NewRiver REIT (NRR) topic

#430446

Postby dealtn » July 26th, 2021, 11:01 am

MDW1954 wrote:Not quite the outcome that I'd been expecting. The 674 pubs have been sold in a trade sale, with the proceeds used to pay down debt, and re-set the LTV at a lower level:

https://markets.ft.com/data/announce/detail?dockey=1323-15072165-7A1KL2CB8UU3KGG9M7RK8Q8I0L

MDW1954


https://www.investegate.co.uk/newriver- ... 00094131G/

Shame Admiral Taverns isn't listed.

nirish
Posts: 1
Joined: November 6th, 2022, 12:42 pm

Re: the NewRiver REIT (NRR) topic

#544267

Postby nirish » November 6th, 2022, 12:54 pm

I bought NRR at 266p (thankfully as part of a wider property portfolio)

After monumental losses at 70p I'm wondering if it's time to throw good money after bad .... do you expect an upside from here given their pub sell off and move towards self titled "resilient" retail.


Return to “REITs & Property Companies”

Who is online

Users browsing this forum: No registered users and 5 guests