UK Commercial Property Reit Limited (UKCM)

Sector:

Real Estate

Index:

FTSE 250

70.10p
   
  • Change Today:
    -1.00p
  • 52 Week High: 91.00
  • 52 Week Low: 49.00
  • Currency: UK Pounds
  • Shares Issued: 1,299.41m
  • Volume: 2,706,305
  • Market Cap: £910.89m
  • RiskGrade: 248

UK Commercial Property REIT slashes quarterly dividend

By Digital Look

Date: Thursday 30 Apr 2020

LONDON (ShareCast) - (Sharecast News) - UK Commercial Property REIT slashed its quarterly dividend as it worked to continue rent collection during the Covid-19 pandemic on Monday, .
The FTSE 250 real estate investment trust said it had low gearing, and "significant" cash and capital resources, and halved its quarterly dividend to 0.46 pence per share.



Executives agreed to reduce their own fees by 20% for the rest of this year, and to keep all other costs and capital expenditure commitments under review.

UKCM said its portfolio valuation as at 31 March was ?1.29bn, which represented a 3.1% like-for-like decline in valuation after capital expenditure adjustments from 31 December.

It said it was in a strong financial position, with a "robust, lowly geared" balance sheet and significant financial resources available of ?154m. That comprised uncommitted cash of ?54m after allowing for future capital commitments and the May 2020, dividend plus ?100m available from its revolving credit facility.

"Together, these resources provide the company with significant liquidity and flexibility at both a corporate and portfolio level," the company said.

It added that had received 68% of advance payments due for the second quarter of the year as "tenants are constrained in their ability to trade during the lockdown". Of the 32% rent outstanding, 12% was derived from the industrial and office sectors - both areas in which the firm said it was more confident of recovery.

The payment rate was continuing to rise and the investment manager was in talks with tenants to look at alternative rent solutions from deferral of repayment to rent rebates in return for extensions of leases.

Net gearing was around 13%, based on a 31 March valuation, and cash held at the same date. UKCM said it had three facilities in place, as well as over ?480m of unencumbered property as at 31 March, providing further headroom and flexibility.

At 0932 BST, shares in UK Commercial Property REIT were up 0.011% at 60.21p.

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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.

 

UKCM Market Data

Currency UK Pounds
Share Price 70.10p
Change Today -1.00p
% Change -1.41 %
52 Week High 91.00
52 Week Low 49.00
Volume 2,706,305
Shares Issued 1,299.41m
Market Cap £910.89m
RiskGrade 248

UKCM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
23.63% below the market average23.63% below the market average23.63% below the market average23.63% below the market average23.63% below the market average
62.96% below the sector average62.96% below the sector average62.96% below the sector average62.96% below the sector average62.96% below the sector average
Price Trend
23.79% below the market average23.79% below the market average23.79% below the market average23.79% below the market average23.79% below the market average
1.82% above the sector average1.82% above the sector average1.82% above the sector average1.82% above the sector average1.82% above the sector average
Income
10.60% above the market average10.60% above the market average10.60% above the market average10.60% above the market average10.60% above the market average
19.05% below the sector average19.05% below the sector average19.05% below the sector average19.05% below the sector average19.05% below the sector average
Growth
42.53% below the market average42.53% below the market average42.53% below the market average42.53% below the market average42.53% below the market average
18.52% below the sector average18.52% below the sector average18.52% below the sector average18.52% below the sector average18.52% below the sector average

UKCM Dividends

  Latest Previous
  3rd Interim 2nd Interim
Ex-Div 12-Nov-20 13-Aug-20
Paid 30-Nov-20 28-Aug-20
Amount 0.46p 0.46p

Trades for 27-Nov-2020

Time Volume / Share Price
16:36 8,817 @ 70.10p
16:35 1,266,877 @ 70.10p
16:29 524 @ 68.60p
16:29 630 @ 68.60p
16:29 90 @ 68.50p

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