Real Estate Credit Investments Ltd (RECI)

Sector:

Financials

Index:

FTSE Small Cap

170.50p
   
  • Change Today:
    -1.00p
  • 52 Week High: 175.50
  • 52 Week Low: 164.00
  • Currency: UK Pounds
  • Shares Issued: 229.33m
  • Volume: 288,219
  • Market Cap: £391.01m

Small caps round-up: Sirius Real Estate, Real Estate Credit, Motive

Date: Friday 13 Apr 2012

LONDON (ShareCast) - Property firm Sirius Real Estate traded in line with management's expectations in the financial year just ended. Rental income is expected to have increased to €45.2m from €43.6m (after excluding €1.9m of surrender premiums) the year before, driven primarily by higher average rate per square metre on new sales. In addition, the group expects to see further reductions in non-recovered service charge costs and overhead costs once all the numbers have been totted up, which should add around €1m to profits.

Occupancy has increased to 78% in the year, up from 76% at the start of the financial year. As at March 31st, 2012, cash reserves were €9.1 million, down from €13m six months earlier. Borrowings, excluding capitalised loan costs, totalled €296m, down from €300.0m at the end of September, representing a loan to value percentage of 60.1% based on an independent portfolio performed at the end of September. Both banking facilities are operating within covenants and the group remains in discussions with the the Royal Bank of Scotland about its banking facility, which matures in October 2012. The group said its main focus at present is to be able to service its borrowings and cover future capital expenditure requirements from operational cash flow.

Real Estate Credit Investments is to implement a more generous dividend policy for holders of its core shares. From the quarter ended March 31st, 2012, the closed-ended investment company is targeting an annual dividend on the core shares of 6% of net asset value per share, payable quarterly.

Venture capital firm CCan 2005 Inversiones Societarias is in discussions with 'TV on the move' technology firm Motive Television about CCan's 32.3% stake in Motive subsidiary, Motive Television SL. CCan, which retained a minority stake in Adecq Digital (subsequently renamed Motive Television SL) after selling it to Motive, is now free to exercise an option to sell the holding to Motive for €2.1m, but has indicated to Motive that it will not exercise the option before the end of May this year.

Software Radio Technology, the developer and supplier of maritime automatic identification systems, is to raise £2.56m trough a placng of 9.5m new shares at 27p each. The funds raised will be used for working capital purposes, to support the existing product development road map and to move forward production and stock commitments for the company's current pipeline of opportunities. The placing was done at the prevailing market price and was significantly over-subscribed, the companty's Chief Executive, Simon Tucker, revealed.

JH

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

 

RECI Market Data

Currency UK Pounds
Share Price 170.50p
Change Today -1.00p
% Change -0.58 %
52 Week High 175.50
52 Week Low 164.00
Volume 288,219
Shares Issued 229.33m
Market Cap £391.01m

RECI Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
2.81% above the market average2.81% above the market average2.81% above the market average2.81% above the market average2.81% above the market average
18.8% below the sector average18.8% below the sector average18.8% below the sector average18.8% below the sector average18.8% below the sector average
Price Trend
8.95% above the market average8.95% above the market average8.95% above the market average8.95% above the market average8.95% above the market average
2.67% above the sector average2.67% above the sector average2.67% above the sector average2.67% above the sector average2.67% above the sector average
Income
84.29% above the market average84.29% above the market average84.29% above the market average84.29% above the market average84.29% above the market average
85.54% above the sector average85.54% above the sector average85.54% above the sector average85.54% above the sector average85.54% above the sector average
Growth
36.65% above the market average36.65% above the market average36.65% above the market average36.65% above the market average36.65% above the market average
3.28% below the sector average3.28% below the sector average3.28% below the sector average3.28% below the sector average3.28% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

RECI Dividends

  Latest Previous
  Q3 Q2
Ex-Div 05-Mar-20 12-Dec-19
Paid 27-Mar-20 03-Jan-20
Amount 3.00p 3.00p

Trades for 24-Feb-2020

Time Volume / Share Price
16:35 21,466 @ 170.50p
16:29 65 @ 171.00p
16:29 23 @ 171.00p
16:29 255 @ 171.50p
16:28 912 @ 171.00p

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