Real Estate Investors (RLE)

Sector:

Real Estate

Index:

FTSE AIM All-Share

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 54.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 63.00p
  • 52 Week Low: 53.00p
  • Currency: UK Pounds
  • Shares Issued: 186.42m
  • Volume: 5,527
  • Market Cap: £100.67m
  • RiskGrade: 85

Real Estate Investors makes good progress in third quarter

By Josh White

Date: Monday 12 Dec 2016

LONDON (ShareCast) - (ShareCast News) - Birmingham-based property group Real Estate Investors posted a portfolio update and third quarter dividend declaration on Monday.
The AIM-traded real estate investment trust said that, during the second half of 2016, REI has sold two non-core retail properties in Crawley and Norwich for £2.725m.

It has also acquired a criteria-compliant prime retail asset for the sum of £1.275m in Bromsgrove, Worcestershire at an initial yield of 8.4%, where tenants include Boots Opticians, Smart Ideas, Thorntons and Loritas Bakery, with potential to add value through asset management including lease re-gears and rent reviews.

The company said it has been experiencing an "exceptionally strong" property investment market across all sectors, particularly since the beginning of the fourth quarter, and will consider further sales in H1 2017, as it has received unsolicited approaches for a number of its assets.

REI said it will look to recycle that capital into criteria-compliant acquisitions, where there is scope for further asset management, and income and capital enhancement.

Occupier demand remained healthy, the board said, in particular within the retail sector, where there were also a number of opportunities to secure residential planning approval to capture significant capital appreciation.

The most notable of these instances was at the scheme in Walsall town centre where BHS was previously an occupier.

REI's portfolio now comprised 1,410,881 sq ft, with an occupancy of 93% and 310 tenants.

The company also confirmed that, in accordance with its progressive dividend policy, it will pay its third quarterly dividend of 0.625p per share for the period 1 July to 30 September 2016.

It said the payment will be made on 20 January to all shareholders on the register as at 23 December.

The ex-dividend date will be 22 December 2016.

"REI remains focused on its investment criteria, and with significant cash and bank facilities, remains well positioned to capitalise on any opportunities that may become available as Brexit discussions continue, whilst maintaining a £200m plus portfolio," said CEO Paul Bassi.

"Our rental income has expanded progressively over the last few years and we anticipate further gains from asset management initiatives that will support the growth of dividend payments in line with our progressive dividend policy.

"We remain optimistic about the prospects for our business for the year ahead, and for our regional economy, which has out-performed other UK regions during 2016."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

RLE Market Data

Currency UK Pounds
Share Price 54.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 63.00p
52 Week Low 53.00p
Volume 5,527
Shares Issued 186.42m
Market Cap £100.67m
RiskGrade 85

RLE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
27.20% above the market average27.20% above the market average27.20% above the market average27.20% above the market average27.20% above the market average
45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average
Price Trend
59.24% below the market average59.24% below the market average59.24% below the market average59.24% below the market average59.24% below the market average
71.01% below the sector average71.01% below the sector average71.01% below the sector average71.01% below the sector average71.01% below the sector average
Income
70.25% above the market average70.25% above the market average70.25% above the market average70.25% above the market average70.25% above the market average
54.17% above the sector average54.17% above the sector average54.17% above the sector average54.17% above the sector average54.17% above the sector average
Growth
89.10% above the market average89.10% above the market average89.10% above the market average89.10% above the market average89.10% above the market average
91.04% above the sector average91.04% above the sector average91.04% above the sector average91.04% above the sector average91.04% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
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RLE Dividends

  Latest Previous
  Q3 Q2
Ex-Div 28-Dec-17 28-Sep-17
Paid 26-Jan-18 31-Oct-17
Amount 0.75p 0.75p

Trades for 21-Feb-2018

Time Volume / Share Price
12:42 5,527 @ 53.00p

RLE Key Personnel

CEO Paul Bassi
Finance Director Marcus Daly

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